Meezan Bank's Come Up With Guidelines For FinTech Products

Meezan Bank's Shariah Supervisory Board, after evaluating Meezan Bank's proposal for using FinTech based solutions for consumers, provided guidelines for developing a digital platform and App for Islamic FinTech where offer and acceptance is done electronically.

KARACHI, (UrduPoint / Pakistan Point News - 11th Sep, 2018 ) :Meezan Bank's Shariah Supervisory Board, after evaluating Meezan Bank's proposal for using FinTech based solutions for consumers, provided guidelines for developing a digital platform and App for Islamic FinTech where offer and acceptance is done electronically.

The meeting was held at Darul Uloom, under the Chairmanship of Justice (Retd.) Muhammad Taqi Usmani and other Board members were Sheikh Esam Mohamed Ishaq and Dr. Muhammad Imran Ashraf Usmani. Meezan Bank's Founding President and CEO - Irfan Siddiqui and Deputy CEO, Ariful islam and senior management team of the bank also attended, said a statement here on Tuesday.

The Shariah Board also provided the guidelines to ensure proper delivery and possession of goods in case of executing sale through digital platform.

The board was pleased on the overwhelming response received on the subscription of the first Shariah-compliant Tier 1 Sukuk issued by the bank.

The board expressed satisfaction over Meezan Bank's Shariah-conformity and consistent growth.