Meezan Bank,the country’s first and largest Islamic Bank, has been awarded ‘Pakistan Deal of the Year ‘ and ‘Musharakah Deal of the Year’ honour for 2012 by Islamic Finance News of REDmoney Group, Malaysia. A Meezan Bank statement issued on Friday said that the Islamic Finance News (IFN) Awards honour the best in the Islamic financial industry and is one of the most prestigious and recognised awards in the global Islamic financial markets. It said that the ‘Sui Southern Gas Company (SSGC) PKR 2.0 billion Certificates of Leasing (Sukuk)’ advised and arranged by Meezan Bank was highlighted as the ‘Pakistan Deal of the Year’. Meezan Bank developed a unique and tax efficient financing structure for SSGC based on Ijarah, the statement added. It said that the ‘Musharakah Deal of the Year’ for the Liberty Mills, PKR 500 million Running Musharakah, was awarded to Meezan Bank for its first ever transaction of Running Musharakah in the textile sector.
