[7] In 2002, Meezan Bank acquired Pakistan operations of Société Générale.

[9] To overcome this, Meezan attracted deposits from religious Muslims and shifted focus to provide loans to SMEs, including those that previously avoided traditional banking for religious reasons, allowing it to serve an underserved segment.

[9] In 2013, Noor Financial tried to sell its entire stake of 49.1 percent, valued at $190 million, to a British Virgin Island-based company named Vision Financial Holdings, but it was blocked by the State Bank of Pakistan.

[12][13][14] A year later, Meezan Bank acquired Pakistan operations of HSBC Oman consisting of a single branch.

[17] Previously, Noor Financial divested its stake multiple times in 2018.