A statement issued here on Tuesday states that Meezan Bank Limited has been awarded the 'Best Islamic Bank in Pakistan' for 2010 by Islamic Finance News of Red Money Group in a ceremony held in Kuala Lumpur.

It said that the Islamic Finance News (IFN) Awards honour the best in the Islamic financial industry.

The statement pointed out that the award brings to light a highly successful and record-breaking year for Meezan Bank, the only AA-rated Islamic bank in Pakistan.

With a branch network of 222 branches in 63 cities across Pakistan, Meezan Bank continues to be the largest Islamic bank in Pakistan.

The bank demonstrated robust business growth in 2010, closing the year with a deposit figure of 131 billion rupees, import/export business of 143 billion rupees and a 61 percent growth in net income over the previous year.

The statement further pointed out that Meezan Bank offers a complete range of Islamic banking products and sservice, including free online banking for all Pak Rupee accounts at all its branches.