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Al Meezan Investments, PAF sign MoU for investment management services


8/23/2017

Karachi

Al Meezan Investments (Al Meezan) and Pakistan Air Force (PAF) have signed a memorandum of understanding (MoU) which will enable Al Meezan, one of the largest asset management companies in Pakistan, to offer Shariah Compliant investment management services to the employees of PAF, across the country.
 
The formal MOU ceremony was held at AHQs E-9 Islamabad on August 17, 2017 under the supervision of Air Marshal Aasim Zaheer, Deputy Chief of Air Staff (Administration). Al Meezan was represented by Mr. Mohammad Shoaib, CFA, Chief Executive while Meezan Bank’s team was headed by Mr. Mohammad Saleem Khan, SEVP/ GM North.
 
Air Marshal Aasim Zaheer said, “PAF is always looking for betterment of their personnel. Keeping in view Shariah compliant investments requirements of the employees, with this arrangement, we are heading into the right direction. This is the first of its kind arrangement wherein employees of PAF may invest in mutual funds for the purpose of obtaining Shariah Complaint investment services. We look forward to further grow our partnership to new heights with Meezan Group.”
 
Commenting on the occasion, Mr. Mohammad Shoaib CFA, CEO Al Meezan, said, “We are delighted that PAF has chosen Al Meezan as the preferred investment partner for Shariah Compliant investment solutions and we will Insha’Allah continue to work diligently to meet the demands of our investors and work towards our vision of making Shariah Compliant investment the first choice of investors.”
 
Al Meezan has been managing investments since 1995 and has one of the longest track record of managing mutual funds in the private sector in Pakistan. With the Highest Management Quality rating of AM1, Al Meezan has the distinction of managing 14 mutual funds, several administrative plans and an investor base of over 63,000 clients. It has 16 branches in 10 major cities in Pakistan including Karachi, Lahore, Faisalabad, Islamabad, Peshawar, Multan, Abbottabad, Rawalpindi, Swat and Gujranwala. Al Meezan has to its credit Pakistan’s largest private sector Equity Fund i.e. Meezan Islamic Fund (MIF) and largest Voluntary Pension Fund i.e. Meezan Tahaffuz Pension Fund (MTPF), with AUMs of Rs. 54 Billion and Rs. 9 Billion respectively (as on July 31, 2017).