Karachi: Meezan Bank Limited, Pakistan’s first and largest Islamic bank, has announced the issuance of 6,541,796 ordinary shares to its employees as part of the Employee Stock Option Scheme (ESOS), a move approved by shareholders and the Securities and Exchange Commission of Pakistan (SECP). The announcement was made on July 15, 2026, highlighting the bank’s commitment to employee incentive programs.

According to information available from the Pakistan Stock Exchange (PSX), these shares were distributed without the issuance of rights shares, and the allocation occurred on July 8, 2026. As part of this distribution, 709,999 shares were assigned to various executives of the bank and credited to their respective Central Depository Company (CDC) sub-accounts at a rate of PKR 557.07 per share.

Among the notable recipients, Mr. Irfan Siddiqui received a total of 131,668 shares, increasing his cumulative holding to 6,098,399 shares, representing a 0.34% interest in the company. Other executives, including Mr. Ahmed Ali Siddiqui and Mr. Ebrahim Yakoob, were also significant beneficiaries, receiving 38,334 and 28,333 shares respectively, maintaining a 0.01% and 0.00% cumulative percentage in the bank’s equity.

This share issuance is a part of Meezan Bank’s broader strategy to align employee interests with organizational goals and enhance employee engagement by offering them a stake in the company’s growth. The designated market category for these transactions remains focused on reinforcing the bank’s operational and financial framework through strategic human resource management.

The Employee Stock Option Scheme is one among several initiatives undertaken by Meezan Bank to foster a culture of ownership among its workforce, thereby driving both individual and organizational performance.