Meezan bank annual report 2011 pdf taxable income

Purpose of investment to earn dividend income as well as prospective capital gain. The charge of current tax is based on taxable income at the applicable rate of taxation after taking. Availability of annual audited financial statements for the year ended december 31, 2019. With al meezan you can save up to 40% of your yearly taxes. The rates available for dividends for the 201011 tax year is the 10 per cent ordinary rate, the 32. Meezan bank limited askari bank limited national bank of pakistan registered office factory. Financial statements for year ended june 30, 2019 57. The theme of this report highlights our customer service which is at the heart of our banking operations and our culture. Performance of meezan bank from 2002 to december 2011 rs.

The pakistani islamic banking industry, particularly, meezan bank has made notable efforts and progress in this area. Driving commerce and prosperity through our unique diversity working together with the asian development bank adb, we are helping to drive prosperity for people traditionally excluded from the. It is a broadly described annual report of meezan bank limited in the year of 2015. Provision for the current tax is based on the taxable income for the year determined in accordance with the provisions. Individual income tax rates and shares, 2010 by adrian dungan and michael parisi t axpayers. Mar 21, 2016 the bank has published its annual report for the year 2015 indicating the organizations outstanding growth in the industry. In come tax calculator pakistan for salaried is given below for your convenience. Annual report 2015 of meezan bank limited assignment point. If youre out of pakistan for more than half the year 183 days or over then probably youll only have to pay tax in pakistan on the money you earned there.

Meezan bank ltd is the first and largest islamic bank in pakistan. This document is the twentyfourth of such annual reports. Meezan bank is managed by a team of professional bankers committed to the cause. Invest 20 % of your taxable income or rs 20 lac whichever is lower in mutual funds to save up to 20 % of your taxes. The bank operates strictly under the principles of islamic shariah and. Enter actual amount you wish to invest annually in vps rs. From the first islamic bank in pakistan on january 31, 2002, meezan bank was granted the first ever islamic commercial banking license by the state bank of pakistan. Total deposits of the bank increased by 24%, closing the. This single unifying factor unleashes the tremendous power of a dedicated and motivated team committed to fulfilling the vision and mission of the bank. Indeed, the vibrant growth along with sustained high performance in our first decade is. Jun 30, 2018 meezan bank limited has the custody of original ownership documents of the companys land located at sector h84 islamabad. The bank commenced operations in 2002 after being issued the first ever islamic commercial banking license by the state bank of pakistan. Meezan bank announces financial results for 2016 business. Interest bearing debts billion rupees interest bearing long term and short term.

Profitability of meezan bank based on balance sheet and. Another significant achievement is the reduction in the bank s ratio of nonperforming financings to total financing npl ratio that now stands at 2. Income statement analysis 38 statement of wealth distribution 40. Bcr awards banking sector 2011 cfa association pakistan islamic bank of the. Annual report june 30, 2015 notice is hereby given that the thirtyfifth annual general meeting of the shareholders of the company will be held at the registered office of the company 20 k gulberg ii, lahore on saturday october 31, 2015 at 4. If your nonsavings income is above this limit then the 10 per cent starting rate for savings will not apply. Meezan bank limited national bank of pakistan nib bank limited samba bank limited. Bank of pakistan not only for 2010 but also for 2011. View and download meezan bank s financial information, financial statements annually, half yearly, quarterly, shariah supervisory, board reports. Notes to and forming part of the financial statements.

As we commemorate ten years of meezan bank as pakistans premier islamic bank, we couldnt be more humbled and grateful. The premier islamic bank meezan bank, pakistans first and largest islamic bank that offers a range of shariahcompliant products and services to cater your financial needs. Askari bank limited meezan bank limited bank alfalah limited national bank of pakistan. The bank has published its annual report for the year 2015 indicating the organizations outstanding growth in the industry. Emirates islamic bank annual report 2012 emirates islamic bank public joint stock. It is our firm belief that the new regulations have. With al meezan you can save up to 50% of your yearly taxes. Appellate tribunal inland revenue atir decided the case in favour of the. Annual improvements to ifrss 2011 20 cycle july 1, 2014. Corporate and investment banking commercial and sme. The bank has published its annual report for the year 2016 indicating the organizations outstanding growth in the industry. Invest 20% of your taxable income in meezan pension fund to save up to 20% more of your taxes. The financial statements of the fund were duly endorsed by the ceo.

Total income of the bank has also seen a solid increase of over 15 percent to become aed 1,344 million. Islamic banks are playing an active role in this aspect by putting comprehensive shariah controls and mechanisms in place. Commission and fee income is accounted for as follows. Fee, commission, brokerage and forex income 714 418 253 core banking income 2,836 1,658 1,022 provisions against nonperforming financings net 436 123 39. Meezan bank limited has the custody of original ownership documents of the companys land located at sector h84 islamabad. During the financial year, the banks total assets crossed half a trillion mark and reached rs. Annual report 2009 09 vii source of funds from where shares will the companys own sources. Ammf, meezan islamic income fund miif, meezan cash fund mcf, meezan sovereign income fund msf, meezan balanced fund mbf, and. The principal activities of js global are equity, fixed income. Nationa l bank of pakistan annual report 2017 51 exchange income 2.

Income tax ratio tax calculator 2011 pakistan salaried. Purpose of investment to earn dividend income as well as prospective. We recognize and value our customers needs above all, and strive to. Annual report 201011 icici prudential life insurance 7. Annual report 2014 free ebook download as pdf file. Here are the latest slabs for the income tax for the income incurring in fy20112012. Best islamic retail bank in the world profit after tax rs 6.

Enter actual amount you wish to invest annually in mutual funds rs. Meezan bank is managed by a team of professional bankers committed to the cause of islamic banking. In the year 2011, meezan bank conducted more than 39 seminars and corporatesme workshops in 23 cities which were attended by more than 4,540 participants representing customers, general public and professionals. The groups net financial income amounted to sek 563 m 349.

Invest 20 % of your taxable income in meezan pension fund to save up to 20% more of your taxes. The tax percentage is zero t0 20% in pakistan for salaried according to 201112 budget. Ishrat hussain, then governor of state bank of pakistan. Net profit of aed 81m compared to net loss of aed 448m in 2011. Emirates islamic bank annual report 2012 emirates islamic bank public joint stock company 16 board of the directors report distinguished shareholders of emirates islamic bank, peace and mercy of allah be upon you. The number of active corporate tax returns filed increased approximately 0. I annual report 2012 bashir ali mohommed zain bashir chairman and chief executive director annual report 2012 i 36 profit and loss account statement of comprehensive income for the year ended june 30, 2012 for the year ended june 30, 2012 2012 note 2011 2012 rs. Another significant achievement is the reduction in the banks ratio of nonperforming financings to total financing npl ratio that now stands at 2. Annual report 201011 icici prudential life insurance 7 topline and bottomline growth.

Over the years, meezan bank has been a forerunner in keeping up with new developments, and through the pages of this annual report, we introduce you to some of the services we provide to our customers both internal and external that are built on the best technologies available today. It gives me great honor to report the 2012 results of the bank, where we have managed to achieve a renowned success on. Meezan bank limited kasb bank limited mcb bank limited nib bank limited standard chartered bank pakistan limited united bank limited bankers pezu, district lakki marwat, khyber pakhtunkhwa registered of. Annual report 2014 dividend islamic banking and finance. Income from financing activities 6,689,7 5,601,627. The financial statements of the bank were duly endorsed by ceo and. At meezan bank we have always recognized technology as a great enabler in improving the quality.

Taxable income rate of tax 1 where the taxable income does not exceed rs. All customers are treated with professionalism and in a friendly manner. The charge for current taxation is based on taxable income at the current rates of taxation after taking. But if youre in the country for more than 183 days, you still have to declare and pay tax on your worldwide income to the pakistani tax. From 200809 there is a 10 per cent starting rate for savings income only.

We recognize and value our customers needs above all, and strive to ensure their fulfillment. Financial statements al meezan investment management limited. Notes to the consolidated financial statements for the year ended june 30. Where the income of an individual chargeable under the head. The tax ex penditure annual report act define s a tax expenditure as any statutory provision. Tax savings al meezan investment management limited. The financial statements of the bank were duly endorsed by ceo and cfo. It is one of the fastest growing financial institutions of the country. This super tax has resulted in additional charge of rs 660 million for the year 2018. As you peruse our annual report, we invite you to take a quick journey. Annual improvements to ifrss 2011 20 cycle july 1, 2014 annual improvements to ifrss 2010 2012 cycle july 1, 2014. Bank with the best annual report 2018 from the first islamic bank in pakistan on january 31, 2002, meezan bank was granted the first ever islamic commerc. Global investment house kscc, the leading investment bank in the middle east is a 43% shareholder of the company. The charge of current tax is based on taxable income at the applicable rate of taxation after taking into.

Annual report 2003 relationships are long term with meezan bank. Meezan bank offers its branch customers a wide range of financial products, all of which. The ta x ex penditure annual report act and the economic development reorg anization act require the center for policy research and planning to prepare an annual tax expenditure report. The tax ex penditure annual report act define s a tax expenditure as any statutory provision or state agency regulation which exempts, in whole or in part, any specific class or classes of persons, income, goods, services, or property from the impact of. Meezan islamic income fund how is meezan islamic income. The charge for current taxation is based on taxable income at current rates of taxation after taking into account tax. Latest income tax slabs for fy 20112012 here are the latest slabs for the income tax for the income incurring in fy20112012. Corporate report 6 message from the managing director. Plan 2007 2011 that was approved by the board in the 3rd quarter of 2007. Icici bank and prudential plc, i believe icici prudential life will continue to be one of the industry leaders.