Al Meezan Investments Meezan Rozana Amdani Fund (MRAF)

Al Meezan's Islamic money market fund with daily dividend declaration and reinvestment: Rs 63.76 billion at June 30, 2026, one of Pakistan's largest halal cash pools, launched December 2018. Fees are 1.10% actual (band 0-1.25%) with nil front-end and back-end loads; FY26 returned +9.49% against a 9.37% Islamic benchmark, after +13.62% in FY25 and +21.50% in FY24's high-rate era. Governance is the house standard: CDC trustee, AM1 manager rating from VIS and PACRA, and the Taqi Usmani-chaired Shariah board. The catch for retail savers is the Rs 500,000 minimum - this fund is engineered for businesses, treasuries and affluent families parking large balances, while smaller savers get cheaper entry at Mahaana (Rs 1,000) or Al-Ameen (Rs 500).

MRAF is the institutional workhorse of halal cash in Pakistan: Rs 63.76 billion, daily dividends, nil loads, and the sector's most credentialed Shariah board watching the book. For a company treasury or a family parking sale proceeds, it does exactly what it promises - FY26's +9.49% edged the Islamic benchmark. But two numbers should give retail savers pause: the Rs 500,000 door and the 1.10% fee. Mahaana charges 0.60% with a Rs 1,000 minimum, Atlas charges 0.06%, and ABL 0.55% - the halal money market category has quietly become price-competitive, and Al Meezan's brand premium is at its steepest right here. Use it for size and pedigree; shop the challengers for yield economics.