Meezan Bank Partners with NCCPL to Develop New Shariah-Compliant Financial Instruments for Pakistan’s Capital Market

Pakistan’s Meezan Bank has signed a Memorandum of Understanding (MoU) with the National Clearing Company of Pakistan Limited (NCCPL) to develop new Shariah-compliant products for the country’s capital market, according to a statement issued on the 8th of July 2021.

Why it Matters?

Under the MoU, Meezan Bank and NCCPL will work to boost the proportion of Islamic products in Pakistan’s capital market and develop new Shariah-compliant financial instruments. Meezan Bank will provide support in introducing the Murabahah Share Financing (MSF) System, a new product implemented by NCCPL, which will assist in extending Shariah-compliant stock financing facilities to stock brokers and their customers in Pakistan.

Details

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