Launch of Meezan Smart Wallet
In order to achieve sustainable economic growth, the State Bank of Pakistan (SBP) is highly committed to provide multiple reforms to under-banked and un-banked population of Pakistan under the umbrella of financial inclusion. One of the core objectives of financial inclusion is to provide easy access of basic banking to large population of Pakistan.
Meezan Smart Wallet:
Meezan Bank Limited being the pioneer of Islamic Banking in Pakistan is pleased to announce the launch of Meezan Smart Wallet (MSW) – a digital wallet, specifically designed for under-banked, un-banked and young population of Pakistan to expand the outreach of banking services and increase the usage of digital financial services. It works as a traditional bank account that enables account holders to use banking services through multiple delivery channels and can be opened digitally, through hassle-free paperless process, followed by successful biometric verification.
Mudarabah based – PKR Saving Account
Qard based – PKR Current Account
Resident Pakistanis having valid CNIC/SNIC
Instant account opening.
Account will be opened through biometric tablets presently available at branches.
Cash withdrawal from any branch of Meezan Bank after successful biometric verification.
No minimum deposit for account opening.
Free internet and mobile banking services.
Nationwide ATM access through Free PayPak debit card. (if applied for).
Additional Product Features:
Fund transfers and bill payments facility in Pakistan.
Profit will be calculated on daily basis and paid on monthly basis. Applicable on Savings (Mudarabah based) account only.
Maximum Deposit/Credit per day – PKR 50,000/-
Maximum Deposit/Credit per month – PKR 200,000/-
Maximum Deposit/Credit per year – PKR 2,400,000/-
Total Balance Limit – PKR 300,000/-