Meezan Bank, Pakistan’s leading Islamic bank, has officially commenced operations with Meezan Exchange Company Limited (MECL), its wholly-owned subsidiary in Karachi. MECL will offer remittance and forex services to all customers. As an initial step in its journey, MECL will expand to 10 outlets nationwide within the first month of its launch with accelerated plans to launch 50 outlets within a year.

The first Meezan Exchange branch, located at the Trade Tower, Karachi, was recently inaugurated by Mr Irfan Siddiqui, Founding President & CEO of Meezan Bank, along with Mr Zia Ul Hassan, Chairman of the Board MECL, Mr Faisal Sarwar, CEO MECL, and senior management from Meezan Bank and Meezan Exchange.

Meezan Exchange’s rapid rollout is a testament to our commitment to the State Bank of Pakistan’s structural reforms in the exchange sector. These reforms aim to create local forex powerhouses with licenses to operate in the country. MECL, with its expertise and commitment, has joined the country’s growing list of exchange companies. We specialize in offering transparency and cost-effectiveness in every transaction, building upon our core strengths of offering efficient currency exchange rates, swift service, and a superior customer experience.

Mr. Irfan Siddiqui emphasized, “The launch of Meezan Exchange is a firm step towards our commitment to delivering seamless financial solutions. We are dedicated to building best-in-class financial solutions based on our unwavering commitment to Shariah compliance, Integrity, and Service Excellence. Meezan Exchange is a testament to the rapid strides we want to make in providing outclass remittance and multi-currency exchange services to both our corporate and individual customers, ensuring their financial security and peace of mind.”