Karachi: In a significant move under the Employee Stock Option Scheme (ESOS) of Meezan Bank Limited, the institution has issued a total of 5,813,938 ordinary shares to its eligible employees, as announced on July 11, 2025. These shares were distributed without the issuance of right shares, marking a substantial development for the bank's workforce.

The share issuance included 680,001 ordinary shares allocated to several executives of the bank, with the transactions credited into their respective Central Depository Company (CDC) sub-accounts. This allocation is part of the broader strategy approved by both the shareholders and the Securities and Exchange Commission of Pakistan (SECP). Among the notable recipients, Mr. Ahmed Ali Siddiqui obtained shares in three separate transactions, culminating in a cumulative shareholding of 201,872 shares.

According to information available from the Pakistan Stock Exchange (PSX), these transactions reflect the bank's ongoing commitment to its employees through its ESOS initiative. Mr. Irfan Siddiqui, a key executive, received the highest portion of shares among his peers, with three different allocations resulting in a significant cumulative shareholding of 5,966,731 shares.

These share distributions are strategically aligned with Meezan Bank's efforts to enhance employee engagement and align the interests of the staff with the bank’s long-term objectives. Apart from Mr. Ahmed Ali Siddiqui and Mr. Irfan Siddiqui, other notable executives, including Mr. Faiz Ur Rehman and Mr. Muhammad Sohail Khan, also benefited from the issuance, contributing to their cumulative shareholdings.

The designated market category of these shares falls under the banking sector, with the issuance being a part of the bank's strategic human resource initiatives, fostering a sense of ownership and loyalty among its employees.