Karachi: Al Meezan Bank Limited has released its comprehensive reports detailing the financial and compliance aspects of the Meezan Balanced Fund, revealing insights into the fund’s operations and adherence to Shariah principles. The reports, dated September 30, 2025, include assessments from the Central Depository Company of Pakistan Limited and independent auditors, confirming the fund’s compliance with regulatory and Shariah guidelines.
Al Meezan Investment Management Limited, the management company of the Meezan Balanced Fund, has been managing the fund for 21 years, ending June 30, 2025. According to the trustee report issued by the Central Depository Company of Pakistan Limited, Al Meezan has managed the fund in compliance with the Non-Banking Finance Companies and Notified Entities Regulations, 2008. The report confirms that limitations on investment powers, unit pricing, issuance and redemption, and management fees have been adhered to as per the constitutive documents and applicable regulations.
A separate Shariah Advisor report, issued by Dr. Muhammad Imran Ashraf Usmani, certifies the fund’s adherence to Shariah compliance. The report outlines guidelines for Shariah-compliant equity investments, ensuring that business activities are halal and interest-bearing debt ratios remain below 37%. Furthermore, the report highlights that all investments and operations of the fund for the year ended June 30, 2025, comply with Shariah principles. Earnings from non-compliant sources were directed to charity.
Financially, the fund has demonstrated significant growth. The net assets of the Meezan Balanced Fund increased to 3.39 billion rupees from 1.91 billion rupees the previous year. The total income for the year was reported at 1.01 billion rupees, up from 745.65 million rupees in 2024. Net income after taxation stood at 875.72 million rupees, reflecting a robust financial performance for the year.
The independent assurance report on compliance with the Shariah Governance Regulations, 2023, further underscores the fund’s commitment to maintaining Shariah compliance in its financial arrangements, contracts, and transactions. The report, conducted by a multidisciplinary team, confirms that all financial operations for the year ended June 30, 2025, align with Shariah principles.
According to information available from the Pakistan Stock Exchange (PSX), the Meezan Balanced Fund’s unit holder fund value increased from 1.91 billion rupees to 3.39 billion rupees, showcasing a significant move in the fund’s market performance. The net asset value per unit also rose from 18.36 rupees to 23.81 rupees, indicating strong growth and investor confidence.
In conclusion, the comprehensive reports illustrate Al Meezan Bank’s adherence to regulatory and Shariah principles, alongside a significant financial performance of the Meezan Balanced Fund for the reported period. These findings are expected to bolster investor confidence and further establish the fund’s standing in the financial market.