Meezan Express Account

Account Opening Form

Effective: Rabi-ul-Sani 1438/January 2018 For Bank Use Only
Customer No.
Date:
Account No.
The Manager ______________________ Branch, __________________________, Pakistan
IBAN
I/ We request you to open an account with Meezan Bank Limited as specified hereunder.
Account Type Savings Current
Nature of Account Individual Joint Minor Photo
Title of Account (in BLOCK letters)
Mailing Address
City Postal Code Existing MBL Customer(s) Yes No

Purpose of Account

Personal Information Applicant 1 Applicant 2

Full Name (as per CNIC)
Gender Male Female Male Female

Residential Address

Residence Telephone
Mobile Number
Marital Status
Father’s/Husband’s Name
Mother's Maiden Name
Date of Birth
Place of Birth
Religion
CNIC/NICOP/SNIC/POC
(Tick the applicable choice)
Expiry Date (if applicable)
Source of Income
Occupation/Profession
Name of Employer/Business

Employer/Business Address

Office Telephone
E-mail Address
Expected amount of Debit (Amount in figure) Credit (Amount in figure)
monthly transactions

Expected number of E-mail address

monthly transactions E-Statement Yes No
I/We hereby authorize the Bank to send me/us account statement at above mentioned
email address instead of dispatching hard copy of account statement through courier/mail.

Name of Next of Kin Contact No. Address

Paypak Debit Card Yes No (Paypak Debit Card Conditions Apply)

Name to appear on Paypak Debit Card (max 20)

Zakat Applicable Yes No SMS Service Yes No Mobile No.

Operating Instructions Single Joint Either or Survivor Other
Sender/Remitter Name Occupation/Profession
Country SNIC/CNIC/NICOP/POC/Passport No.
I/We hereby certify that all information herein is true and correct, including the contact information.

I/We hereby solemnly declare that the information regarding my/our source of income is complete and true.

I/We understand that the Bank may at its option, participate as an investor by commingling its funds & the
funds of other customers as well as amount deposited in current / savings account, as and when required.

I/We declare and confirm that I/we have received and read and understood the Bank's Account
Opening Form with Terms and Conditions governing this account which have been signed by me/us in
acceptance thereof. I/We agree to observe and remain bound by the said Terms and Conditions and
any changes supplements or modifications thereto that may be made by the Bank from time to time.
Furthermore, I/we acknowledge having received a copy of this APPLICATION Form including these
Terms and Conditions with salient features in Urdu.

Customer Signature 1. 2. Bank Officer Signature

Terms & Conditions:
1) In Savings Account, the relationship between the Bank and
the customer shall be based on Mudarabah, where the
Customer is the Rab ul Maal and the Bank is the Mudarib.
The Bank as the Mudarib may invest or disinvest, at its sole
discretion, monies/funds received by it from the customers in
any of the businesses of the Bank as it deems fit with the
approval of the Resident Shariah Board Member
(RSBM)/Shariah Supervisory Board (SSB) of Meezan Bank.
Funds deposited by the customer with the Bank under Current
Account of Meezan Express Account are to be on the basis of
Qard and therefore shall be payable by the Bank upon demand.
The Bank at its discretion may utilize such funds as it deems
fit. No profit shall be paid in Current Account.
2) The Mudarib’s share in the profit shall be on the basis of a
predetermined percentage of the distributable profit of the
Business, defined as Gross Income of the Pool minus all
direct cost/expenses incurred in deriving that income as well
as minus the Bank’s share as an investor. The Mudarib Share
may vary from time to time and can be obtained from the
Bank upon request as well as available on the Bank’s website
at www.meezanbank.com
3) The Bank may also participate in the Business at its option as
an investor sharing the profit in proportion to its equity
before distribution of profit between Rab-ul-Maal and
Mudarib. All the Customers shall be assigned weightages
(profit distribution ratio for weighted average investment)
based on the features of the Account held by them, such as
tenure, profit payment options and other applicable features
for the purposes of calculation of profit. The weightages
applicable to the Account shall be announced three days
before the beginning of every month and shall be available at
the Bank upon request and at the website of the Bank at
www.meezanbank.com and shall not be changed during the
month. All accounts are finalized at the end of the month by
the Bank for calculation of profit or loss.
4) Profit calculation shall be based on daily product basis (day
end balance calculated with respective weightages
applicable).
5) In the event of loss on either the capital or profit in respect of
the business, all investor of the investment pool shall share in
such loss on a pro rata basis. However, if loss has been
incurred by the Business owing to gross negligence or willful
default of the Bank, the Customers will not be liable to share
in such loss.
6) Redemption of any amount in the Savings Account by the
customer shall mean the transfer of its respective share in the
Business along with all related risks and rewards. Upon
receipt of the duly filled Account Opening Form and the
requisite documentation and information required
thereunder or otherwise by the Bank, the Bank may, at its
sole discretion, open an account and/or agree to provide the
Services to the Customer.
7) The Bank shall issue Account statements or make them
available through Internet Banking or Electronic Mail
(e-mail) to the Account holder semiannually or at such other
intervals as required by SBP. In case of any
inconsistency/error in the statement the customer shall notify
the Bank within 45 days, otherwise the same would be
considered correct and accepted by the Customer.
8) In case of an e-Statement, the Bank will not be held
responsible for any misuse of the information so relayed,
incomplete information, statement gets bounced back/ could
not be delivered due to any reason.
9) The Bank may, without any further express authorization
from the Customer, debit any account of the Customer
maintained with the Bank for all expenses, fees, commissions
payable by the customer, including charges mentioned in
Schedule of Charges, unless exempted by Law, SBP/other
regulatory bodies.
10) Withdrawals shall only be made through cheque forms and
debit cards supplied by the Bank. Cheques and other
payment instructions are to be signed as per specimen
signature supplied to the Bank and alterations therein are to
be authenticated by the Customer's signature.

Customer Signature .2 .1
11) In case of joint account, the balance shall belong to the
Customers jointly and they will jointly and severally be liable
for all liabilities incurred on the Account and the Services.
12) In case of a Joint Account with ‘either or survivor operating
instructions’ and in the event of the death of any of the
Customers, the amount of deposit to the credit of such
Account, at the time of the death in question shall belong to
the survivors.
13) Any account remaining inoperative for one (1) year shall be
designated as Dormant Account. Debit/Credit entry by Bank
generated transactions or by way of inward remittances,
clearing, in such account shall not reactivate the Dormant
Account. Withdrawals from such account shall be subject to
the approval of the relevant Branch Manager/Manager
Operations or in accordance with the prevailing policies of
the Bank. A Customer can reactivate the Account by writing
an application to the Bank as per the procedure/form
provided by the Bank. In case an Account remains
inoperative for ten (10) years, the funds lying to the
credit of the Dormant Account shall be surrendered to
the State Bank of Pakistan, in accordance with the
applicable rules and regulations.
14) If the Bank receives notice of demise of an individual
Customer or becomes aware from any reliable source, the
Bank shall not be obliged to allow any operation or
withdrawal except on the production of evidence of title or
right to operate the Account, which the Bank considers
sufficient.
15) The Bank may, at its sole discretion close the account without
disclosing the reason for closure. The credit balance in the
Customer Account will be sent through Pay Order on the last
available customer’s address on the Bank’s records.
16) No Local credit shall be allowed in Meezan Express Account.
17) Account will be fed through foreign inward remittance only.
The account will be blocked for other types of deposits.
18) No withholding tax shall be applied on cash withdrawal.
19) Meezan Express Account will be opened in PKR and fed by
Home Remittances only.
20) Funds received in Meezan Express Account will be treated as
non-repatriable i.e. Outward remittances will not be allowed
from the account.
21) Meezan Express Account can only be opened by beneficiaries
of home remittances.
22) Debit Card issued in Meezan Express Account cannot be
used outside Pakistan.
23) The Bank is also entitled to market its products and services
to its existing Customers via the SMS, e-mails and other
channels.
24) The Customer acknowledges that SMS facility is dependent
on the telecommunications infrastructure, the Customer
accepts that timelines of Alerts sent by the Bank will depend
on factors affecting the telecommunications. Neither the
Bank nor its Service Providers shall be liable for non-delivery
or delayed delivery of alerts, error, loss, distortion in
transmission of and wrongful transmission of alerts to the
Customer.
25) These terms and conditions may be revised or modified by the
Bank from time to time, subject to the laws of Pakistan, including
all pertinent communication by the State Bank of Pakistan,
provided that such laws do not contradict the Islamic Shariah. In
case of any contradiction, the rules of Islamic Shariah as per the
directives of the RSBM/SSB of the Bank or the SSB of the State
Bank, in light of the IBD guidelines, will prevail. The revised or
modified terms will become effective upon 30 days of advance
notice given to the customer. Such notice shall be deemed to
have been given if displayed at the counters of the Bank or
posted on its website.
26) Customer will provide income proof of remitter/beneficial
owner if required by the Bank.

Customer Signature .2 .1
Meezan Express Account
Customer Copy

Meezan Express Account

Account Opening Form
Effective: Rabi-ul-Sani 1438/January 2018 For Bank Use Only
Customer No.
Date:
Account No.
The Manager ______________________ Branch, __________________________, Pakistan
IBAN
I/ We request you to open an account with Meezan Bank Limited as specified hereunder.
Account Type Savings Current
Nature of Account Individual Joint Minor Photo
Title of Account (in BLOCK letters)
Mailing Address
City Postal Code Existing MBL Customer(s) Yes No

Purpose of Account

Personal Information Applicant 1 Applicant 2

Full Name (as per CNIC)
Gender Male Female Male Female

Residential Address

Residence Telephone
Mobile Number
Marital Status
Father’s/Husband’s Name
Mother's Maiden Name
Date of Birth
Place of Birth
Religion
CNIC/NICOP/SNIC/POC
(Tick the applicable choice)
Expiry Date (if applicable)
Source of Income
Occupation/Profession
Name of Employer/Business

Employer/Business Address

Office Telephone
E-mail Address
Expected amount of Debit (Amount in figure) Credit (Amount in figure)
monthly transactions

Expected number of E-mail address

monthly transactions E-Statement Yes No
I/We hereby authorize the Bank to send me/us account statement at above mentioned
email address instead of dispatching hard copy of account statement through courier/mail.

Name of Next of Kin Contact No. Address

Paypak Debit Card Yes No (Paypak Debit Card Conditions Apply)

Name to appear on Paypak Debit Card (max 20)

Zakat Applicable Yes No SMS Service Yes No Mobile No.

Operating Instructions Single Joint Either or Survivor Other
Sender/Remitter Name Occupation/Profession
Country SNIC/CNIC/NICOP/POC/Passport No.
I/We hereby certify that all information herein is true and correct, including the contact information.

I/We hereby solemnly declare that the information regarding my/our source of income is complete and true.

I/We understand that the Bank may at its option, participate as an investor by commingling its funds & the
funds of other customers as well as amount deposited in current / savings account, as and when required.

I/We declare and confirm that I/we have received and read and understood the Bank's Account
Opening Form with Terms and Conditions governing this account which have been signed by me/us in
acceptance thereof. I/We agree to observe and remain bound by the said Terms and Conditions and
any changes supplements or modifications thereto that may be made by the Bank from time to time.
Furthermore, I/we acknowledge having received a copy of this APPLICATION Form including these
Terms and Conditions with salient features in Urdu.

Customer Signature 1. 2. Bank Officer Signature

Customer Copy

Terms & Conditions:

1) In Savings Account, the relationship between the Bank and
the customer shall be based on Mudarabah, where the
Customer is the Rab ul Maal and the Bank is the Mudarib.
The Bank as the Mudarib may invest or disinvest, at its sole
discretion, monies/funds received by it from the customers in
any of the businesses of the Bank as it deems fit with the
approval of the Resident Shariah Board Member
(RSBM)/Shariah Supervisory Board (SSB) of Meezan Bank.
Funds deposited by the customer with the Bank under Current
Account of Meezan Express Account are to be on the basis of
Qard and therefore shall be payable by the Bank upon demand.
The Bank at its discretion may utilize such funds as it deems
fit. No profit shall be paid in Current Account.
2) The Mudarib’s share in the profit shall be on the basis of a
predetermined percentage of the distributable profit of the
Business, defined as Gross Income of the Pool minus all
direct cost/expenses incurred in deriving that income as well
as minus the Bank’s share as an investor. The Mudarib Share
may vary from time to time and can be obtained from the
Bank upon request as well as available on the Bank’s website
at www.meezanbank.com
3) The Bank may also participate in the Business at its option as
an investor sharing the profit in proportion to its equity
before distribution of profit between Rab-ul-Maal and
Mudarib. All the Customers shall be assigned weightages
(profit distribution ratio for weighted average investment)
based on the features of the Account held by them, such as
tenure, profit payment options and other applicable features
for the purposes of calculation of profit. The weightages
applicable to the Account shall be announced three days
before the beginning of every month and shall be available at
the Bank upon request and at the website of the Bank at
www.meezanbank.com and shall not be changed during the
month. All accounts are finalized at the end of the month by
the Bank for calculation of profit or loss.
4) Profit calculation shall be based on daily product basis (day
end balance calculated with respective weightages
applicable).
5) In the event of loss on either the capital or profit in respect of
the business, all investor of the investment pool shall share in
such loss on a pro rata basis. However, if loss has been
incurred by the Business owing to gross negligence or willful
default of the Bank, the Customers will not be liable to share
in such loss.
6) Redemption of any amount in the Savings Account by the
customer shall mean the transfer of its respective share in the
Business along with all related risks and rewards. Upon
receipt of the duly filled Account Opening Form and the
requisite documentation and information required
thereunder or otherwise by the Bank, the Bank may, at its
sole discretion, open an account and/or agree to provide the
Services to the Customer.
7) The Bank shall issue Account statements or make them
available through Internet Banking or Electronic Mail
(e-mail) to the Account holder semiannually or at such other
intervals as required by SBP. In case of any
inconsistency/error in the statement the customer shall notify
the Bank within 45 days, otherwise the same would be
considered correct and accepted by the Customer.
8) In case of an e-Statement, the Bank will not be held
responsible for any misuse of the information so relayed,
incomplete information, statement gets bounced back/ could
not be delivered due to any reason.
9) The Bank may, without any further express authorization
from the Customer, debit any account of the Customer
maintained with the Bank for all expenses, fees, commissions
payable by the customer, including charges mentioned in
Schedule of Charges, unless exempted by Law, SBP/other
regulatory bodies.
10) Withdrawals shall only be made through cheque forms and
debit cards supplied by the Bank. Cheques and other
payment instructions are to be signed as per specimen
signature supplied to the Bank and alterations therein are to
be authenticated by the Customer's signature.

Customer Signature .2 .1
Customer Copy

11) In case of joint account, the balance shall belong to the

Customers jointly and they will jointly and severally be liable
for all liabilities incurred on the Account and the Services.
12) In case of a Joint Account with ‘either or survivor operating
instructions’ and in the event of the death of any of the
Customers, the amount of deposit to the credit of such
Account, at the time of the death in question shall belong to
the survivors.
13) Any account remaining inoperative for one (1) year shall be
designated as Dormant Account. Debit/Credit entry by Bank
generated transactions or by way of inward remittances,
clearing, in such account shall not reactivate the Dormant
Account. Withdrawals from such account shall be subject to
the approval of the relevant Branch Manager/Manager
Operations or in accordance with the prevailing policies of
the Bank. A Customer can reactivate the Account by writing
an application to the Bank as per the procedure/form
provided by the Bank. In case an Account remains
inoperative for ten (10) years, the funds lying to the
credit of the Dormant Account shall be surrendered to
the State Bank of Pakistan, in accordance with the
applicable rules and regulations.
14) If the Bank receives notice of demise of an individual
Customer or becomes aware from any reliable source, the
Bank shall not be obliged to allow any operation or
withdrawal except on the production of evidence of title or
right to operate the Account, which the Bank considers
sufficient.
15) The Bank may, at its sole discretion close the account without
disclosing the reason for closure. The credit balance in the
Customer Account will be sent through Pay Order on the last
available customer’s address on the Bank’s records.
16) No Local credit shall be allowed in Meezan Express Account.
17) Account will be fed through foreign inward remittance only.
The account will be blocked for other types of deposits.
18) No withholding tax shall be applied on cash withdrawal.
19) Meezan Express Account will be opened in PKR and fed by
Home Remittances only.
20) Funds received in Meezan Express Account will be treated as
non-repatriable i.e. Outward remittances will not be allowed
from the account.
21) Meezan Express Account can only be opened by beneficiaries
of home remittances.
22) Debit Card issued in Meezan Express Account cannot be
used outside Pakistan.
23) The Bank is also entitled to market its products and services
to its existing Customers via the SMS, e-mails and other
channels.
24) The Customer acknowledges that SMS facility is dependent
on the telecommunications infrastructure, the Customer
accepts that timelines of Alerts sent by the Bank will depend
on factors affecting the telecommunications. Neither the
Bank nor its Service Providers shall be liable for non-delivery
or delayed delivery of alerts, error, loss, distortion in
transmission of and wrongful transmission of alerts to the
Customer.
25) These terms and conditions may be revised or modified by the
Bank from time to time, subject to the laws of Pakistan, including
all pertinent communication by the State Bank of Pakistan,
provided that such laws do not contradict the Islamic Shariah. In
case of any contradiction, the rules of Islamic Shariah as per the
directives of the RSBM/SSB of the Bank or the SSB of the State
Bank, in light of the IBD guidelines, will prevail. The revised or
modified terms will become effective upon 30 days of advance
notice given to the customer. Such notice shall be deemed to
have been given if displayed at the counters of the Bank or
posted on its website.
26) Customer will provide income proof of remitter/beneficial
owner if required by the Bank.

Customer Signature .2 .1