KARACHI, Oct 23: Al Meezan Investments, Pakistan’s Largest Asset Management Company in private sector has taken another innovative initiative to promote fund raising for social cause of healthcare for the underprivileged segment of the society. This is in line with its core value of Corporate Social Responsibility and is the first such initiative in Pakistan. Al Meezan today signed an MOU with Indus Hospital to facilitate it in fund raising through launch of a co-branded investment plan.
The MOU for launch of the investment plan was signed between Al Meezan and The Indus Hospital in a ceremony held at the Head Office of Al Meezan Investment Management Limited. Al Meezan was represented by Mr. Mohammad Shoaib, CFA, CEO and Indus Hospital was represented by Dr. Abdul Bari Khan, CEO.
The Indus Hospital is part of the Indus Health Network, a tertiary care multidisciplinary hospital, located in Korangi, The Indus Hospital is one of its kind facility with its paperless and entirely computerized environment, high quality services, free of cost treatment. There is no other facility in the country that is catering to an array of diseases and is solely running on the Zakat and Donations of well-wishers and philanthropists..
Named as Meezan Indus Hospital Charity Plan (MIHCP), the plan will provide an innovative solution to Indus Hospital to raise donations and efficiently manage those funds until they are utilized for the benefit of the underprivileged in the society. The purpose of the plan is to mobilize unutilized funds of donors by efficient investment management and share a portion of profit with The Indus Hospital which would be used for the treatment of patients. The plan will provide donor/investor the opportunity to retain the ownership of the fund and only donate part or full investment income to the hospital .
Speaking on the occasion, Mohammad Shoaib, CEO of Al Meezan mentioned, “Al Meezan has always played a leading role in developing innovative investment solutions to meet the needs of its individual and institutional clients. Structuring a product exclusively for fund raising for philanthropic purposes is another first by Al Meezan. We will Insha’Allah continue to work diligently to meet the demands of investing public and work towards our vision of making Shariah compliant investing first choice of investors.”