FAQs - Al Meezan Investment Management Limited
Al Meezan Investments

FAQs

You can have all your frequently asked questions answered here.

A mutual fund is an investment vehicle that collects money from many investors, and invests the collected pool of money in various investment avenues. The fund itself is managed by experienced professionals, who dedicatedly monitor the performance of the fund and manage it accordingly, on an ongoing basis.

A highly regulated financial institution that structures and manages various mutual funds.

The fee charged by the asset management company (AMC) for managing the fund. This fee is usually quoted on an annual basis and is calculated as percentage of net assets under management.

As per SECP, the categorization of the open-end Collective Investment Schemes (CIS) is made on the basis of investment parameters including eligible asset classes with pre-specified risk profile is imperative to enable the investors to make informed decision and to bring uniformity in the mutual funds industry for comparing performance of various open-end CIS. In this regard CIS can be classified as following:

Equity Scheme, Balanced Scheme, Asset Allocation Scheme, Fund of Fund Scheme, Shariah Compliant Scheme, Capital Protected Scheme, Index Tracker Scheme, Money Market Scheme, Income Scheme and Aggressive Fixed Income Scheme.

Open funds continually create new units or redeem issued units on demand. The unit holders can buy the units of the fund or may redeem them on a continuous basis at the prevailing Net Asset Value (NAV) by simply contacting the AMC

Closed end funds have a fixed number of shares outstanding and do not redeem when investors want to sell; instead, the shares trade in the secondary markets (stock markets). Its market price is determined by demand and supply and is not directly tied to its net asset value. In order to buy or sell units of a close ended Mutual Fund, the investor shall need to contact the broker and not the AMC.

A asset management company on behalf of the fund, collects money from many investors, and invests it in various investment avenues like shares, bonds, etc. This fund is managed by professionals who understand the market well, and try to achieve the fund’s investment objective by taking sound investment decisions on behalf of the fund. Investors get units of the mutual fund according to the amount they have invested and the return from investment gets reflected in the price of their units.

Some of the major benefits of investing in a mutual fund are: -
  • Diversification
  • Professional management
  • Liquidity
  • Affordability
  • Tax benefits
  • Convenience
  • Return Potential
  • Transparency
  • Flexibility
  • Choice of Schemes
  • Well regulated

Mutual funds are closely regulated by the Securities and Exchange Commission of Pakistan (SECP). SECP's primary purpose is to protect the interests of the capital market investors. Each and every mutual fund comes under the regulatory review of SECP.

SECP has provided elaborate investment guidelines and require thorough reporting by AMCs to ensure prudent functioning of mutual funds. It stipulates how investors’ money should be invested and also how these investments are to be valued on an ongoing basis.

Mutual Funds Association of Pakistan (MUFAP), a trade body of mutual funds also involves itself in devising compliance and best practices guidelines in the industry to ensure professional ethics.

Incorporated on February 27, 1995 Al Meezan is registered as a Non Banking Finance Company under the Non Banking Finance Companies (Establishment and Regulation) Rules, 2003 and NBFC Entities Regulations 2007 with the Securities and Exchange Commission of Pakistan (SECP) to carry on the business of asset management and Investment advisory. As an Investment Adviser, we are authorized to manage discretionary and non-discretionary portfolios for its clients. Al Meezan is also licensed as a Pension Fund Manager under Voluntary Pension System Rules, 2005

Shariah Advisory ensures the compliance of operations and investments with Islamic principles. At Al Meezan we guidance draw from the Shariah Supervisory Board of Meezan Bank Limited comprising of world renowned Islamic scholars.

An audit is conducted by the Shariah Advisor to ensure compliance with Islamic Shariah principles.

Islamic funds are different from conventional funds in following ways:

Presence and careful monitoring by the Shariah Board

It is ensured that all aspects of the Shariah are adhered to before, during and after an investment is carried out in a Shariah Compliant manner

Well defined and Specific Investment Avenues

Investment avenues are limited to those that comply with the Shariah

Charity and Purification

Any investment/financing that is deemed to have an element of Riba becomes liable for Purification and has to be given away as charity

Asset Ownership

The ownership of an asset lies with the party that provides financing and bears the risk e.g. financing by a bank, and assumption of all the risk (non recovery, etc) associated with it.

Permissible transactions

Transactions have to be conducted according to the Shariah, e.g. no short sales

Islamic Investment in only Shariah Compliant Avenues

For Islamic mutual funds and other Islamic Investors, investment can only be made in those securities (equity, debt, etc) which comply with well defined screening ratios.

The Trustee holds assets on behalf of the fund in a Trust and works to safeguard the rights of investors. Trustee can be a custodian as well by taking the physical possession of all securities purchased by the mutual fund, and undertakes responsibility for its handling and safekeeping. For instance, the Central Depository Company (CDC) is mostly the custodian for most fund houses in the country.

An auditor is responsible for evaluating the validity and reliability of a company or organization's financial statements. All Funds under management are audited by KPMG Taseer Hadi.

IPO stands for Initial Public Offering. It refers to sale of fresh units of a new fund.

The objective of equity funds is long-term growth of capital by investing in stocks. Because stocks are generally more volatile than other type of investments, equity funds (which are usually composed entirely of stocks) may exhibit short-term fluctuation and therefore carry a higher level of risk.

The objective of index tracker funds is to provide investors an opportunity to track closely the performance of an Index by investing in proportion to the constituent securities found in the index. Being a passive fund, it charges lower management fee from unit holders vs. a pure equity active fund.

The objective of balanced fund is to generate long term capital appreciation as well as current income from a portfolio comprising of both equity as well as fixed income securities.

The objective of income funds is to have a regular stream of income by investing in debt securities that have the potential to provide a higher level of regular income than money market funds and may also generate reasonable capital growth.

The objective of money market funds is to invest in low risk avenues. These funds aim to preserve your original investment and achieve target returns with high certainty and low risk factor by investing in investment instrument with low risk and lower volatility.

A fund of fund is a kind of mutual fund that invests in a variety of mutual funds.

The investment objective is to protect Initial Investment Value along with the prospect of growth upon the initial investment over the stipulated time period. These funds give you 100% capital protection, with the potential to earn a return that is better than that being offered by bank deposits or money market funds/ instruments. In order to achieve their objective they may seek to cash-in on any stock market upside that may be witnessed during the tenure.

    NAV stands for Net Asset Value of a mutual fund. This is basically the price of one unit of a mutual fund.

    NAV can be calculated as follows: Assets of the fund – Liabilities of the fund / Number of outstanding units for that fund

    In Pakistan many mutual funds publish their NAV at the end of every business day.

    Redemption price is the price that you receive on selling a unit of your mutual fund.

    It is a charge collected by a mutual fund when it sells units. It can be either front-end load (i.e., the charge is collected when an investor buys the units) or back-end load (i.e, the charge collected when the investor sells back the units). Some schemes do not charge any load and are called No Load Schemes

    Investing with us is a simple process for both individual and institutional investors. You can fill out the Account Opening Form & Investment Application Form.

    For first time investment, please ensure to include a legible photocopy of your NIC, NICOP/Passport, Job/Business Proof, Zakat Exemption Declaration (Individuals) and other required documents in case of corporate investors.

    You can make additional investments by following ways:

    • Make this transaction online with our Online Investment Facility (MBL Internet banking)
    • Or you can fill out the Investment Application Form

    The cheque will be made in favor of Central Depository Company (Trustee). For instance; investment in MIF will be made in favor of CDC Trustee Meezan Islamic Fund. The form along with the investment/contribution instrument will be sent to: Al Meezan Investment Management Limited, Ground Floor, Block B, Finance and Trade Centre, Shahrah-e-Faisal, Karachi.

    For more details click here

    You can withdraw money from your account at any time. You have the option to withdraw the complete amount or a specific amount based on your requirements.

    • Make this transaction online with Online – Member Services Area
    • Make this transaction online with Online – MBL Internet Banking Facility
    • Withdrawing amount through ATM Facility

    Or you can fill out the Redemption of Units Form.

    For more details click here

    You can move money from a scheme that you are currently invested in to any of the other schemes that we offer. This is called a conversion transaction.
    • Make this transaction online with Online – Member Services Area
    • Make this transaction online with Online – MBL Internet Banking Facility
    • Or you can fill out the Conversion of Units Form
    For more details click here
    You can transfer money from your investment account to any other investment account (also held with Al Meezan Investments). You have the option to transfer the complete amount or a specific amount based on your requirements. To make this transaction you need to fill out the Transfer Form For more details click here
    You can pledge the money held in your account as collateral to avail financing from a financial institution. You can pledge the entire investment value of your account or a specific amount as per your requirements. This facility is offered with selected investment schemes. To make this transaction you need to fill out the Pledge Form. For more details click here

    A Systematic Investment Plan (SIP) is a convenient method of investing in mutual funds. Under this plan, an investor contributes a fixed amount towards the mutual fund scheme at regular intervals, and gets units at the prevailing NAV.

    For more details click here.

    Investing in SIP offers two major benefits: - You can start investing with a small amount - You can average out your investment, as SIP involves buying units at different points of time and at different NAV levels.

    Rupee cost averaging is one method to save regularly and minimize the effect of market volatility on investments. By investing through methods like SIP, you invest a fixed amount in mutual funds at regular intervals. So, you get more units when the NAV is low and fewer units when it is high. Eventually, your average cost per unit is brought down.

    Islamic Finance is a financial system that operates according to the principles of Islamic Shariah.

    Following are the basic principles of Islamic Finance:

    1. Elimination of Interest / Riba from financial Transactions
    2. Asset back transactions with taking complete Risk & Reward
    3. Partnership contracts with profit & loss sharing basis
    4. Asset & Service Backing of financial transactions
    5. Gharar free contracts
    6. Avoiding gambling (maysir or Qimar)
    7. Avoiding investment in prohibited industries/Businesses

    These principles are derived from the following sources of Shariah:

    1. Quran
    2. Sunnah
    3. Ijma (Consensus of Ulema)
    4. Ijtehad/ Qiyas/ Analogy

    Islamic investment / banking is Riba free, asset backed financial activity governed by the principles of Islamic Shariah. Islamic investments must be made according to Shariah screening criterias established through collaboration between Shariah scholars and industry experts. Islamic

    Islamic modes of financing are as follows:

    Equity based

    1. Musharakah
    2. Mudarabah

    Trade based

    1. Murabaha
    2. Salam
    3. Istisna
    4. Istijrar

    Services and Rental based

    1. Ijarah
    2. Wakala

    Shariah compliant mutual funds can be operated on the basis of Mudarabah or Wakala. Usually Wakala based structure exists in mutual fund industry.

    In Wakala based structure the Asset Management Company (AMC) acts as the agent of funds’ investors and charges a fee against its services. The fee is independent of the funds’ performance.

    In Mudaraba based structure, AMC acts as Mudarib (who manages the business) and investor is the Rab-ul-Maal (who provides the capital for business). The profit is shared between AMC and the investors according to pre-agreed ratios. In case of capital loss, the Rab-ul-Maal bears the loss and the Mudarib is not liable for any loss, unless the loss has occurred due to negligence. Mudarib bears the loss of his services and will not be entitled for any remuneration on management service.

    In Wakala based structure Shariah compliant mutual funds charge certain percentage of management fee from the fund while the whole profit goes to the investors of the fund.

    Neither the returns on the investment can be guaranteed, nor the capital.

    Fund managers of Shariah Compliant mutual funds make investments according to the guidelines provided by their Shariah Advisors.

    The role of Shariah Advisors is as follows:

    • Provide guidelines for development of innovative products
    • Provide operational guidelines
    • Adequate selection of Shariah complaint instruments
    • Ensure compliance with Islamic principles
    • Purification of portfolio
    • Shariah Audit and Review

    In Shariah compliant mutual funds, the fund manager selects the portfolio which fulfils the Shariah Complaint Criteria of investment according to the Shariah Screening Criteria

    No, anyone can invest in Shariah Compliant mutual funds as they provide competitive returns

    Yes, if the investment is made in stocks according to the Shariah guidelines.

    Purification process is applied as per the calculations based on Shariah Screening criteria and such income is deducted from the fund’s income.

    Following screening criteria is followed:

    • Core Business of the Investee Company must be Halal
    • Ratio of Interest bearing Debt to Total Assets should be < 37%
    • Ratio of Non-compliant Investments to Total Assets should be < 33%
    • Non-complaint Income to Total revenue should be < 5%
    • Ratio of Illiquid Assets to Total Assets should be > = 25%
    • The Net Liquid Assets should be < Market Price

    Purification: Non-Compliant Income must be paid out in charity in order to protect the investors’ returns from Riba

    Following are the investment avenues for Islamic Income and Money Market funds

    • Sukuks
    • Placement with Islamic Banks and Islamic Windows of Conventional Banks
    • Musharakah, Mudarabah, Murabaha, and other permissible Shari’ah based financial instruments issued by organizations with high credit ratings
    • Other Structures as allowed by Shariah scholars

    Sukuk commonly refers to the Islamic equivalent of bonds. However, unlike conventional bonds, which merely grant ownership of a debt, Sukuk grants the investor a share of an asset, along with the commensurate cash flows and risk. Sukuk securities adhere to Shari’ah principles, which prohibit the charging or payment of interest.

    Sukuk can be tradeable or non-tradeable, depending on the underlying Shariah structure. The tenor of Sukuk can be more than one year and less than year, making it an instrument for both, capital and money markets. There are different types of Sukuks for example Ijarah Sukuk.

    Ijarah Sukuk are related to leased properties and assets, they carry equal values, and are issued by the owner of the leased property or his agent. The aim of the transaction at the end is to sell the leased property through issuing Sukuk, accordingly, the holders of the certificates or Ijarah Sukuk own the asset and its charges during the rental period, each in proportionate to the certificates of Sukuk held in the leased asset. Under an ijarah contract, the usufruct of a particular property is transferred from the owner to another person in exchange for a rental payment. In other words, it is a leasing agreement with the lessor referred to as the mujir, the lessee called the mustajir and the rent paid to the lessor called ujrah.

    For example, there might be a leased building, the monthly or annual income of which goes to the certificate of Sukuk holders who are considered as partners in the ownership of the building. In addition to the return from rent, the holder of Sukuk may sell the same in the secondary market.

    Shariah Compliant Funds invests only in those investment avenues which comply with the guidelines of Islamic Shariah. Further these Funds are closely monitored by the Shariah Advisor to ensure Shariah Compliance. Periodic Shariah Audit is also conducted and Fatwas are issued by Shariah Advisor.

    Any new individual with a valid CNIC/NICOP, Email ID & Mobile Number can open Al Meezan’s Digital account. This facility is not available for Corporate, Jointly operated accounts and Minor (under 18 years of age) accounts.

    No, this facility is only available for Collective Investment Scheme - CIS.

    Yes, any overseas Pakistani National can open his/her online account with Al Meezan subject to the availability of valid email ID, Active Pakistani bank account and contact details (Mobile number).

    You can simply open your account through our website; all the related details will be submitted online. Here are the steps to open a Digital account.

    1. Visit www.almeezangroup.com
    2. Click on Link: https://members.almeezangroup.com/NewAccount.aspx
    3. Enter your CNIC / NICOP number, Mobile number and Email address.
    4. Select mobile number ownership option. In case additional proof required then please follow the instructions.
    5. You will receive OTP (One Time Password) on your registered Mobile Number and E-mail address.
    6. Enter OTP as received.
    7. Enter your personal information.
    8. Provide KYC (Know Your Customer) related information required as per regulatory requirement.
    9. Provide information related to overseas residential status under FATCA & CRS requirement.
    10. Seek suggestion for suitable fund by providing information related to your risk profile.
    11. Upload required documents.
    12. Review the details.
    13. Read and acknowledge the undertaking / disclaimer.
    14. Mention investment details to further proceed with digital account opening procedure.
    15. Al Meezan will review provided information and documents and will revert in 3 Working days.

    After submission of form, Al Meezan perform different checks to validate the information and documents.

    1. In case of mobile number not registered under customer name, video call will be made for verification.
    2. In case of unsuccessful verification, Email/SMS and call will be made to customer for guidance.
    3. In case of successful verification, customer will receive email with instructions to make payment.
    1. Valid CNIC of Account Holder
    2. KYC Document (Source of Income: Salary Slip / Bank Statement / Tax Return)
    3. Zakat Declaration (Optional)
    4. Signature card on predefine format
    5. Additional Documents in case Mobile Ownership is not under customer name.
    6. Valid CNIC of Nominee (in case nominee is selected)
    7. Signed Disclaimer Statements on predefine format

    It means that the Mobile number shall be under the name of Account Holder who is intending to open an Investment account with Al Meezan. In case the mobile number is not under the name of customer then following points will be followed:

    1. Mobile Number registered on Family Member name – Affidavit along with CNIC copy of SIM owner required.
    2. Company Registered Mobile Number - Latest bill copy and letter of authorization from employer will be required to upload during the process.
    3. International Number - Latest bill copy will be required to upload during the process.

    Signature Card is predefined format which will be downloaded by the customer during the process. Customer will provide at least two sample signatures on this format and will upload at the time of account opening.

    Disclaimer Statements is predefined format containing various Disclaimers to be accepted by the customer for opening of Digital Account. The format will be downloaded by the customer during the process and signed Disclaimer will be upload at the time of account opening.

    After submission of account opening, Al Meezan will perform necessary checks and will revert within 3 Working Days in case of Successful / Unsuccessful verification. In case of successful verification customer will receive an email followed by payment instructions to proceed with the account opening. In case of unsuccessful verification customer will receive Email/SMS and Call from Al Meezan for further guidance.

    Once the Account Opening process is completed and payment is made successfully, a Welcome Email containing details of setting password for ‘Meezan Funds Online’ will be sent. Further the acknowledgment of Investment and updated statement of Account will also be sent through email.

    It is Al Meezan’s online portal through which customer can avail following benefits:

    1. Make e-transactions (Investment, Conversion and Redemption) in your account.
    2. Check the current value of your investments.
    3. View account statements.
    4. See the graphical investment account composition.
    5. View your profile details

    NAV will be applied after confirmation of fund transfers from one-Link within the cut-off time.

    You can start with as low as PKR 5,000 with subsequent investment of PKR 1,000 or more. For initial investment, follow the digital account opening process, place a request and then transfer funds via your internet banking or mobile banking or ATM by using Reference Number provided by Al Meezan through email or SMS.

    You can get suggestion of fund by providing us information related to your risk profile at the time of Account Opening or you can Visit our website www.almeezangroup.com, for investment option details or fill the form at the “Get Investment Advice” icon from website to request a call back. We’d be happy to help you!

    You can make subsequent investments by generating a transaction reference number through ‘Meezan Funds Online’ or ‘Al Meezan Mobile App’ and use this Reference Number to make payments/investments through KUICKPAY facility available at Internet banking, Mobile App or ATM of your respective Bank account (maintained in Pakistan). The entire procedure is communicated step by step through email on generation of reference code.

    No, there is no limit of investment amount from Al Meezan. However, please check the transaction limit restrictions from your bank account.

    There is no such requirement to maintain minimum investment balance.

    No, you can only invest in a single scheme at the time of opening Digital Account. However, you may invest in other schemes using same payment/ investment options through Al Meezan’s online portal ‘Meezan Funds Online’ or ‘Mobile App’.

    Yes, request for Al Meezan’s Digital account opening can be initiated anytime. However, the transaction execution at Al Meezan end is based on the Cut-off timings of the respective product during business hours.

    There are no service charges from Al Meezan’s part at the time of Digital account opening and investment. However, charges of KUICKPAY facility will be borne by the customer and it will be deducted from customer’s bank account.

    The applicability of charges (Front-end load, Bank charges, Government taxes and other charges where applicable) varies from product to product and amount to amount. Please refer Offering Document of the respective fund for related charges or consult your investment advisor.

    Simply, place your request through Meezan Funds Online or Mobile App for withdrawal of funds and the amount will be transferred to your registered bank account.

    Yes, Zakat will be deducted unless Zakat Exemption Declaration Form (CZ-50) is submitted to us. If you want to submit Zakat Affidavit, then simply scan the affidavit and email it to us at info@almeezangroup.com with your CNIC number.

    At the moment, following are the Bank’s that facilitate investment in Al Meezan through their Bill payment option via KUICKPAY services; Allied Bank, Askari Bank, Bank AlFalah, Bank Al-Habib, Bank Islami, Bank of Punjab, Dubai Islamic Bank, Faysal bank, First Microfinance Bank, First Women Bank, Habib Bank, Habib Metropolitan Bank, JS Bank, MCB Bank, Meezan Bank, MCB Islamic, National Bank, NRSP Bank, Samba Bank, Silk Bank, Summit Bank, Soneri Bank and United Bank.

    If you do not receive activation code then please contact us at 0800-42525 or email us at info@almeezangroup.com for support.

    In case of any query or complaint you may reach us via any of the following channels;

    • Call us at 0800-42525
    • Email us at info@almeezangroup.com
    • International clients: (+92 21) 111-633-926 (Ext: 2)

    No, a valid CNIC/NICOP and other details are mandatory for account opening.

    Ensuring the privacy and security of your data and transactions are our utmost priority. We take every precaution to provide an online service with high grade security and maintain strict standards and procedures to prevent unauthorized access to your information, including 128-Bit SSL Encryption, Internal Systems Encryption, and Firewalls.

    You can use Forget password feature on our portal ‘Meezan Funds Online’ or ‘Mobile App’ to reset your password.

    You can access your portfolio details by utilizing our Free of cost Value Added Services;

    • Register and Logon to your portal Meezan Funds Online and Mobile App to access updated value of your investments and other portfolio details.
    • E-statement and Investment Acknowledgement are sent on each transaction
    • Monthly e-statement is sent at your registered email address.
    • SMS by simply typing BAL Portfolio ID and sending it to 6655 from your registered mobile number.
    • Auto subscription of our Daily NAV alerts through SMS & EMAIL
    • Contact us at our Toll Free Number i.e. 0800-42525 and speak to our customer support officer for any query.

    Any individual with a valid CNIC, Email ID & Mobile Number can open Al Meezan’s online account.

    • This facility is not available for Corporate, Jointly operated accounts and Minor (under 18 years of age) accounts.

    You can simply open your account through our website; all the related details will be submitted online. No separate documents are required for Al Meezan’s Sahulat Sarmayakari Account opening form. Here are the steps to open an online investment account.

    • Visit www.almeezangroup.com
    • Click on Register Link
    • Enter your name, valid CNIC number, mobile number and email address.
    • You will receive a separate OTP (One Time Password) on your registered Mobile Number and E-mail address.
    • Enter activation codes as received.
    • Enter your personal information, then review and submit the details.
    • After submission, you need to mention investment amount to further proceed with account opening procedure.
    • All the above procedures shall be communicated through SMS / Email during the process.

    Yes, any overseas investor with a Pakistani Nationality can open his/her online account with Al Meezan subject to the availability of valid email ID, Pakistani bank account and contact details (Mobile number). For more information, please contact Toll Free: 0800-42525 | International clients: (+92 21) 111-633-926 (Ext: 2)

    You can access your portfolio details by utilizing our Free of cost Value Added Services;

    • Register and Logon to your Member Services Area and Mobile App to access updated value of your investments and other portfolio details.
    • Monthly e-statement will be sent at your registered email address.
    • SMS by simply typing BAL Portfolio ID and sending it to 6655 from your registered mobile number.
    • Auto subscription of our Daily NAV alerts through SMS & EMAIL.
    • Contact us at our Toll Free Number i.e. 0800-42525 and speak to our customer support officer for any query.

    You can make subsequent investments by generating a transaction reference number through Al Meezan Member Service area and use the reference code to make the payments/investments through your respective Bank account (maintained in Pakistan) either through Internet banking/Mobile Banking or ATM options. The entire procedure is communicated step by step through email on generation of reference code.

    You can start with as low as PKR 5,000 with subsequent investment of PKR 1,000 or more. For initial investment, follow the online account opening process, place a request and then transfer funds via your internet banking portal or ATM.

    Yes, the maximum investment limit at any point in time and total investment amount during the year should not exceed Rs. 100,000/- and per transaction limit is restricted to Rs. 25,000/-. In case limit exceeds from Rs. 100,000/- the account category will be converted into regular investment account and transactions will be withheld till the provision of new (physical) account opening form along with the required information and documents. Further, no account maintenance amount is required.

    You can invest through online, however you have to provide all documentations physically (please refer our website for documents) to enjoy limitless investment experience. Your current account will be converted into normal account after providing required documents.

    You have to be registered with our Member Service Area from where you can create a reference ID for new investment. Please refer to the guidelines for Online Investments.

    Click here if not registered to Member Service Area. If already registered User: Logon to Al Meezan’s Member Services Area, click here to login.

    Once the Account Opening process is completed and payment is made successfully, a Welcome Email containing details of Account Profile and Transaction confirmation will be sent to your registered email address.

    At the time of account opening, you can invest in a single scheme. Once your Online Account is opened then you can make investments in other available schemes using same payment/ investment options through Al Meezan’s online portal ‘Member Services Area’.

    Yes, request for Al Meezan’s online account opening can be initiated round the clock. However, the transaction execution is based on the Cut-off timings of the respective product during business hours. (Please refer offering documents for the execution timelines)

    It takes a couple of minutes to open your Online Account with Al Meezan, followed by an acknowledgement SMS from Al Meezan. After necessary screening of Account by Al Meezan an email will be sent to you on your registered ID mentioning Transaction Reference number and steps to follow in order to complete Online Account Opening.
    In case of unsuccessful verification, you will receive an email to reapply again with proper details. If investment is not made within the stipulated time, the account opening process shall be discarded and you have to go through the procedure again.

    There is no such requirement to maintain minimum investment balance.

    There are no service charges from Al Meezan at the time of account opening, however at the time of investments, the applicability of charges (Front-end load, bank charges and Government taxes) varies from product to product and amount to amount.

    You can place your request for redemption (withdrawal) in most of the schemes through Al Meezan online portal ‘Member Service Area’ 24*7 which will be executed as per the Cut-off timings of the respective Fund during business hours. For more details contact Toll Free: 0800-4252 | International clients: (+92 21) 111-633-926 (Ext: 2)

    Yes, Zakat will be deducted unless Zakat Exemption Declaration Form (CZ-50) is submitted to us. If you want to submit Zakat Affidavit, then simply scan the affidavit and email it to us at info@almeezangroup.com with your CNIC number.

    Visit our website www.almeezangroup.com, for investment option details or fill the form at the “Get Investment Advice” icon from website to request a call back. We’d be happy to help you!

    At the moment, following are the Bank’s that facilitate investment in Al Meezan through their Bill payment option via Kuick Pay services; Bank Islami, First Microfinance Bank, Meezan Bank, JS Bank, Summit Bank, Habib Metropolitan Bank, Soneri Bank, Askari Bank, Bank Alfalah, Faysal Bank, Samba Bank and NRSP Microfinance Bank.

    Online Account holders, shall not be able to perform any request or transaction through physical forms. If they wish to perform any physical transaction, all the account opening formalities (physically) shall be carried prior to executing any transaction or request.

  • Moreover the transaction limits for Online Account holder’s are;
  • First time transaction limit minimum – Rs. 5000/-
  • Subsequent transaction limit minimum – Rs. 1000/-
  • Maximum Transaction limit for single transaction is Rs.25000/-
  • Maximum Portfolio Size is Rs.100,000/- at any point
  • If you have not received your activation code then please contact us at 0800-42525 or email us at info@almeezangroup.com for support.

    Simply, place your request through Member Service Area for withdrawal of funds, if your bank account supports online/IBFT payments, the funds will be transferred to your bank account, otherwise we will send you a cheque at your registered address as per the cutoff timings of the Fund. (Please refer offering documents for the payment execution timelines)

    In case of any query or complaint you may reach us via any of the following channels;

    • Call us at 0800-42525
    • Email us at info@almeezangroup.com
    • International clients: (+92 21) 111-633-926 (Ext: 2)

    No, a valid CNIC and other details are mandatory for account opening.

    Ensuring the privacy and security of your data and transactions are our utmost priority. We take every precaution to provide an online service with high grade security and maintain strict standards and procedures to prevent unauthorized access to your information, including 128-Bit SSL Encryption, Internal Systems Encryption, and Firewalls.

    You can use our Forget password feature on Member service area to reset your password or contact us via any of the following channels for support;

    • Click here to redirect
    • Call us at 0800-42525
    • Email us at info@almeezangroup.com
    • International clients: (+92 21) 111-633-926 (Ext: 2)

    To begin, register yourself to Al Meezan’s Member service Area, click here for registration. If already registered User: Logon to Al Meezan’s Member Services Area, click here to login.

    You have to generate a reference number from Al Meezan’s Member Service Area by selecting investment amount and Fund name and then login to Internet Banking of your respective bank for investments under Bill Payment feature. The payments are made through your respective Bank account (maintained in Pakistan) either through Internet banking or ATM option.

    Subsequent investment of minimum PKR 1,000 or more and PKR 5,000 for new account opening (Online Account)

    Currently there is no investment limit, however the limit criteria varies from product to product and Internet Banking or ATM services of your bank’s account.

    However, in case of Sahulat Sarmayakari Account, the maximum investment limit at any point in time and total investment amount during the year should not exceed Rs. 100,000/- with per transaction limit restricted to Rs. 25,000/-.

    Once the payment is made from your bank account, confirmation of investment request will be sent through SMS. Acknowledgment of Investment and Statement of Account will be emailed to you within 2-3 working days after the materialization of the amount.

    The settlement of the transaction is based on the cutoff timings of the Fund. (Please refer to the offering documents for the payment execution timelines)

    In case of any query or complaint you may reach us via any of the following channels;

    • Call us at 0800-42525
    • Email us at info@almeezangroup.com
    • International clients: (+92 21) 111-633-926 (Ext: 2)

    Yes, any overseas investor, already Al Meezan account holder having Pakistani bank account can invest online. For more information, please contact Toll Free: 0800-42525 | International clients: (+92 21) 111-633-926 (Ext: 2)

    Ensuring the privacy and security of your data and transactions is our utmost priority. We take every precaution to provide an online service with high security protocols and maintain strict standards and procedures to prevent unauthorized access to your information, including 128-Bit SSL Encryption, Internal Systems Encryption, and Firewalls.

    Visit our website www.almeezangroup.com, for investment option details or fill the “Get Investment Advice” icon from website and request a call back. We’d be happy to help you!

    There are no service charges from Al Meezan’s part at the time of investment. However, the applicability of charges (Front-end load, Bank charges, Government taxes and other charges where applicable) varies from product to product and amount to amount. Please refer Offering Document of the respective fund for related charges or consult your investment advisor.

    Yes, request for Al Meezan’s investment can be initiated round the clock. However, the transaction execution is based on the Cut-off timings of the respective product during business hours. (Please refer offering documents for the execution timelines)

    Yes, you can invest in all available schemes using same payment/ investment options of voucher generation through Al Meezan’s online portal ‘Member Services Area’ and pay through your bank’s account. At a time, 3 Investment requests (Reference IDs) shall be generated which are usable for 2 business days.

    This is an online feature and the amount is instantly executed into respective fund. However, you can speak to our Customer services representative for further assistance and cancellation, if possible.

    At the moment, following are the Bank’s that facilitate investment in Al Meezan through their Bill payment option via Kuick Pay services; Bank Islami, First Microfinance Bank, Meezan Bank, JS Bank, Summit Bank, Habib Metropolitan Bank, Soneri Bank, Askari Bank, Bank Alfalah, Faysal Bank, Samba Bank and NRSP Microfinance Bank.

    Al Meezan Roshan Digital Account is one of its kind initiative by SBP & SECP for Overseas Pakistani’s to digitally open a bank account in Pakistan from the comfort of their homes. Through Roshan Digital Account, overseas Pakistanis can also invest in Mutual Funds which are now an approved investment avenue by the State Bank of Pakistan.

    Individual NRPs having CNIC, NICOP, Passport, foreigners having Pakistan Origin Card (POC) and employees or officials of the Federal Government or a Provincial Government posted abroad who have already opened a Roshan Digital Account in Meezan Bank are eligible.

    1. Visit www.almeezangroup.com
    2. Click on Online Account tab at the right corner and select New Account.
    3. Select Roshan Digital Account.
    4. Enter your name, CNIC/NICOP/Passport/POC and mobile number.
    5. On submission of above details, you will be re-directed to Meezan’s Bank Roshan Digital Account portal.
    6. Click on open Roshan Digital Account.
    7. Fill the Account opening form for Roshan Digital Account (PKR) and upload the required documents.
    8. On Meezan Bank’s Roshan Digital Account Opening web page, Click (Invest in Shariah Compliant Mutual Funds)
    9. Fill the account opening form for Al Meezan Investments along with some additional information required for Investor risk profiling.
    10. Review the details.
    11. Read and acknowledge the undertaking / disclaimer
    12. Al Meezan will review the provided information and documents and will revert in 24 hours.

    The documents submitted during Meezan Roshan Digital Account opening process will suffice for Al Meezan’s investment account opening process.

    After submission of account opening, Al Meezan will perform necessary checks and will revert within 24 hours in case of Successful / Unsuccessful verification. In case of successful verification customer will receive an email followed by payment instructions to proceed with the account opening. In case of unsuccessful verification customer will receive Email from Al Meezan for further guidance.

    Investments can be made through Meezan Bank’s Internet Banking from registered Meezan Roshan Digital Account only.

    Al Meezan Investments will send an account statement and investment acknowledgment letter to the investor once the investment is processed.

    Al Meezan Roshan Digital Account can be opened in PKR only.

    No, this facility is only available for Collective Investment Scheme – CIS

    No, Al Meezan Roshan Digital Account can’t be opened for Joint or Minor Account holders.

    Yes, multiple portfolios can be opened with Al Meezan but each portfolio will be mapped to one RDA bank account.

    NAV will be applied after confirmation of fund transfers from registered Meezan Roshan digital account within the cut-off time.

    For latest cut-off timings please refer to our website www.almeezangroup.com.

    It is Al Meezan’s online portal through which customer can avail following benefits:

    • Make e-transactions (Conversion and Redemption) in your account.
    • Check the current value of your investments
    • View account statements
    • See the graphical investment account composition
    • View your profile details

    You can get suggestion of fund by providing us information related to your risk profile at the time of Account Opening or you can Visit our website www.almeezangroup.com. You can also speak with an investment advisor at (+92 21) 111-633-926 (Ext: 2)

    You can make subsequent investments through Meezan Bank’s Internet Banking from the registered Meezan Roshan digital account only.

    You can directly file redemptions / conversions through digital channels of Meezan bank and Al Meezan Investments.

    Payment against redemptions shall be credited into your registered Meezan Roshan Digital Account.

    State Bank of Pakistan (SBP) has clarified that Meezan Roshan Digital Accounts are not subject to compulsory deduction of Zakat as per rule 24-A of the Zakat Collection & Refund Rules, 1981.

    In case of any query or complaint you may reach us via any of the following channels;

    No, a valid CNIC/NICOP/Passport/POC and other details are mandatory for account opening.

    Ensuring the privacy and security of your data and transactions is our utmost priority. We take every precaution to provide an online service with high grade security and maintain strict standards and procedures to prevent unauthorized access to your information, including 128-Bit SSL Encryption, Internal Systems Encryption, and Firewalls.

    Initial investment can be made with PKR 5000 and for subsequent investment the minimum investment criteria is PKR 1000.

    You can access your portfolio details by utilizing our Free of cost Value Added Services;

    • Register and Logon to our portal Meezan Funds Online and Mobile App to access updated value of your investments and other portfolio details.
    • E-statements are sent on each transaction.
    • Monthly e-statement is sent at your registered email address.
    • Auto subscription of our Daily NAV alerts through EMAIL

    No, there is no restriction of investment amount for Al Meezan.

    There is no such requirement to maintain minimum investment balance.

    Yes, investments in multiple CIS can be done through Al Meezan Roshan Digital Account.

    Yes, request for Al Meezan’s Digital account opening can be initiated anytime. However, the transaction execution at Al Meezan’s end is based on the Cut-off timings of the respective product during business hours.

    For latest cut-off timings please refer to our website www.almeezangroup.com

    There are no service charges from Al Meezan at the time of Digital account opening. The applicability of charges on Investment (Front-end load, Bank charges, Government taxes and other charges where applicable) varies from product to product. Please refer to the Offering Document of the respective funds for related charges or consult your investment advisor.

    You can use Forget password feature on our portal ‘Meezan Funds Online’ or ‘Mobile App’ to reset your password.