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Building a Prosperous Pakistan: A Journey of Resilience and Opportunity
The nation is uniquely positioned to elevate its economic stature by capitalising on its strengths
On this auspicious day, we celebrate 77 years of independence—a momentous day marking the birth of our beloved Pakistan. The journey of this nation, founded on the principles of unity, faith, and discipline, has been one of resilience and determination. Blessed with rich natural resources, a deep cultural history, and a pivotal geographical stance, Pakistan is uniquely positioned to elevate its economic stature by capitalising on its strengths.
With a bounty of agricultural yields and natural resources, premium textiles, extensive gemstone deposits, young and talented workforce, the country is well-positioned to build a prominent position in the global markets through leveraging these strengths, adopting strategic initiatives and focusing on Islamic teachings in business and trade - projecting itself on a solid course of economic advancement.
However, the true strength of Pakistan lies in its people—the 240 million strong population that is the fifth- largest in the world. Our nation is brimming with talent, creativity, and entrepreneurial spirit. The opportunities before us are vast, and as we look to the future, there is no doubt that Pakistan has the potential to become a leading player on the global stage.
Meezan Bank – A Journey of Success
Meezan Bank’s journey began in 1997 as Al Meezan Investment Bank, which transitioned into Pakistan’s first Islamic commercial bank in 2002. This has been a story of unparalleled success in Pakistan’s banking industry. From humble beginnings as the country’s smallest bank, to becoming one of the largest and best-performing banks in Pakistan—with over 1,000 branches in more than 330 cities— Meezan Bank stands as a model of success. Along this journey, the Bank has achieved numerous landmarks, such as:
- Rising from being the smallest bank in the country to becoming the 4th largest in just 25 years
- Being recognised as the ‘Best Bank in Pakistan’ on numerous local and international forums
- Becoming the youngest bank in Pakistan’s history to achieve the coveted AAA Credit Rating
- Being designated as a systemically important bank
- Attaining the highest market capitalisation among banks in Pakistan
- Achieving the Highest Return on Equity (ROE) in the banking sector
In 2022, the Bank celebrated a significant milestone, marking 25 years of remarkable achievements. Today, Pakistan’s Islamic banking sector represents 22.6 per cent of the entire banking industry. Over these years, the Bank has evolved into a household name and become synonymous with Islamic banking in Pakistan.
Roshan Digital Account and Our Non-Resident Pakistanis
The Roshan Digital Account (RDA) offers a seamless and secure platform for Non-Resident Pakistanis (NRPs) to invest in their homeland, access banking services, and contribute to the country’s economic growth. RDA was launched by the State Bank of Pakistan in collaboration with various banks across the country to offer innovative banking solutions to NRPs interested in accessing banking and investment services in Pakistan. Through the RDA, overseas Pakistanis can now participate in various investment opportunities, including Islamic Naya Pakistan Certificate, the stock market, and real estate, all from the comfort of their homes.
Since the inception of RDA in September 2020, Meezan Bank has played an active role in supporting this initiative, with the ultimate aim of promoting financial inclusion and boosting the country’s overall economic development. With over 100,000 accounts from 144 countries and record deposit inflows of around $2.2 billion, the Bank’s performance in RDA has reaffirmed its position as a top performer in the industry, maintaining a market share of around 27 per cent.
We believe that Overseas Pakistanis are an integral part of our nation’s success. Their contributions— whether through remittances, investments, or expertise—have always played a vital role in strengthening our economy. RDA is our way of acknowledging their efforts and providing them with the tools they need to stay connected with Pakistan. We encourage all Overseas Pakistanis to take advantage of this opportunity and play their part in the nation’s development. As the largest Islamic bank meeting the Shariah-compliant banking needs of Pakistanis residing abroad, Meezan Bank has been steadfast in supporting the RDA initiative and in attracting foreign currency inflows to the country.
Looking Ahead
As we look to the future, we are confident that the complete adoption of Islamic banking in Pakistan will serve as a catalyst for sustained economic growth and prosperity. While the journey will undoubtedly present challenges, the collective resilience and determination of our people will enable us to overcome obstacles and realise our full economic potential as a more just and prosperous society.
Some facts about Pakistan
- Information Technology (IT) industry is among the top five net exporters of the country and is increasingly becoming one of the leading foreign exchange earning segments of the economy. Pakistan’s IT potential is on a remarkable upswing as over 70 percent of the country’s population is less than 34 years of age and young people are generally early adopters of technology.
- Pakistan holds a prominent position in the global dairy and eggs markets. As the world’s 4th largest dairy producer, the country produces and exports a diverse range of dairy products such as fresh milk, yogurt, butter, ghee, and a variety of cheeses.
- The irrigation system of Pakistan is one of the largest in the world. It covers an area of over 20 million hectares of agricultural land. The system is based on a network of canals, dams, and reservoirs that are fed by the Indus River and its tributaries.
- Pakistan is home to one of the world’s largest coal reserves — Thar Coal Mines, with the Thar Desert alone holding approximately 175 billion tons of coal.
The above-enlisted facts highlight Pakistan’s potential as a nation on the rise, brimming with untapped opportunities.
Pakistan Zindabad!
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