To read this content please select one of the options below:

Al Meezan Investment Management Limited: evolution of Sharīʿah-compliant mutual funds

Saqib Sharif (Department of Finance, Institute of Business Administration Karachi, Karachi, Pakistan)
Sarwat Ahson (CFA Society Pakistan, Karachi, Pakistan)
Hina Noor (INCEIF, Kuala Lumpur, Malaysia)

Publication date: 19 October 2020


Learning outcomes

This case serves as a useful backdrop for discussing a few important conceptual frameworks in the field of finance. The dilemmas are still evolving for Sharīʿah-compliant asset management company (AMC); i.e. Al Meezan, and may seem complex to the students – particularly in the Pakistan’s financial structure – but framing the discussion from a market perspective ought to help the students of finance.

Case overview/synopsis

This case study focuses on Al Meezan Investment Management Limited (Al Meezan) journey since inception. Al Meezan is a full-fledged Sharīʿah-compliant AMC and one of the major players in the mutual funds industry of Pakistan. Al Meezan offers a comprehensive range of Sharīʿah-compliant investment solutions especially designed to meet the financial goals of their existing and potential clients. The case study covers all the key events before the inception of Al Meezan, from late 1990s till March 2020. The case is based on interview with chief executive officer (CEO) (the protagonist) of Al Meezan. The case also covers various challenges faced by Mohammad Shoaib, CEO and his senior team, to make Al Meezan a vibrant institution offering Islamic financial services.

Complexity academic level

This case is aimed at undergraduate students in their final year (i.e. taking electives in the field of Finance/Islamic Finance) or graduate students majoring in Finance/Islamic Finance.

Supplementary materials

Teaching notes are available for educators only.

Subject code

CSS1: Accounting and Finance.



Disclaimer. This case is written solely for educational purposes and is not intended to represent successful or unsuccessful managerial decision-making. The authors may have disguised names; financial and other recognisable information to protect confidentiality.


Sharif, S., Ahson, S. and Noor, H. (2020), "Al Meezan Investment Management Limited: evolution of Sharīʿah-compliant mutual funds", , Vol. 10 No. 4.



Emerald Publishing Limited

Copyright © 2020, Emerald Publishing Limited

Related articles