IJMT Volume 5, Issue 10 ISSN: 2249-1058 ______________________________________________________________________________ A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories Indexed & Listed at: Ulrich's Periodicals Directory ©, U.S.A., Open J-Gage, India as well as in Cabell’s Directories of Publishing Opportunities, U.S.A. International Journal of Marketing and Technology http://www.ijmra.us 68 October 2015 THE ROLE OF MEEZAN BANK IN THE DEVELOPMENT OF ISLAMIC BANKING SECTOR IN PAKISTAN ZEBA SHABBIR* DR. FAROOQ AZIZ** ABSTRACT The main objective of this study is to analyze the role of banking sector in the economic development of Pakistan particularly the role of Islamic banking and its prospects in the country in future. The Meezan bank emerged as the prime Islamic bank of the country and also played a vital role in the economic growth and development of Pakistan. The process of Meezan Islamic banking also brought specialization in the Islamic banking sector which developed and produced expertise in the operation which leads to efficiency. Since the establishment of Pakistan as a new country the main focus of banking industry was based on conventional but after words with the passage of time and being a Islamic country the need of alternate banking system based purely as per Islamic shariah and laws and it was felt to also established some Islamic banks in Pakistan. Hence the government of Pakistan with the collaboration of state bank of Pakistan started Islamic banking slowly and gradually. Initially Islamic banking licence issued to Meezan bank in 2002 which started full fledged Islamic based banking all over the country. The study further reveals that the Meezan bank which started with six branches in 2002 reaches/ increased to 1304 branches in 2013 which shows that the Meezan bank has played a major role in the development and progress of Islamic banking in Pakistan which is also evident from the result produced by the above bank in recent years.