Meezan Bank becomes the first Bank to introduce e-Rights Shares Subscription Services

January 01, 2019 (MLN): Meezan Bank, Pakistan’s leading Islamic bank and the Best Bank in Pakistan – 2018, has successfully launched its electronic-Right shares (e-Rights) subscription facility, through which, account holders of Meezan Bank as well as other banks will be able to subscribe to Rights issue online, providing ease and convenience to investors and reducing TATs due to electronic processing, stated a press release.

Meezan Bank is the first and only bank in Pakistan to allow shareholders of various companies to make payments through all its Alternate Distribution Channels including Meezan Bank’s ATMs, Internet Banking facility and Mobile Banking Application.

Moreover, account holders of other banks can also subscribe and make payments through:

• Inter Bank Funds Transfer (IBFT)
• Real Time Gross Payments System (RTGS)
• Payment Over The Counter (POTC) through Meezan Bank branches across Pakistan

Following the State Bank of Pakistan’s (SBP) and Securities and Exchange Commission of Pakistan’s (SECP) active approach towards providing the public with a hassle-free mechanism for application of subscription of securities, Meezan Bank’s e-Rights service will facilitate 24/7 payments of right shares subscription.

The newly launched service will enable investors with Right Allotment Letters (RAL) to subscribe and make Rights Subscription payments electronically.

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