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Risk Associates Certifies Meezan Bank as Pakistan’s First PCI 3DS Standard Compliant Bank

Risk Associates Certifies Meezan Bank as Pakistan's First PCI 3DS Standard Compliant Bank
| Mr. Aziz A. Rahim – Chief Operating Officer of Risk Associates while presenting the PCI 3DS Certificate of Compliance to Mr. Faiz Ur Rehman – Group Head Information Technology, Syed Fahd Azam – CISO & Head Information Security from Meezan Bank along with Sheikh Muhammad Naeem Riaz – Sr. Manager Cybersecurity of Risk Associates.
Karachi, Pakistan – April 08, 2024 – Risk Associates, Pakistan’s leading PCI Qualified Security Assessor (QSA), has recently announced Meezan Bank’s certification with the PCI 3DS (Payment Card Industry Three Domain Secure) standard. This milestone positions Meezan Bank, the country’s Premier Islamic bank, as the first in Pakistan to attain such accreditation.

The certification ceremony was held at Meezan House, Karachi where Mr. Aziz A. Rahim – Chief Operating Officer of Risk Associates presented the PCI 3DS Certificate of Compliance to Mr. Faiz Ur Rehman – Group Head Information Technology, Syed Fahd Azam – CISO & Head Information Security and Syed Iftikhar Ul Haq - Group Head Consumer Finance, from Meezan Bank.

The certification highlights Meezan Bank’s focus on maintaining a secure banking infrastructure ensuring data protection and providing secure transactions for its clientele. Aimed at mitigating online transaction fraud, this accreditation follows a thorough evaluation, ensuring compliance of the Bank's systems with the PCI 3DS protocol mandated by the Payment Card Industry Security Standards Council. The 3DS protocol serves as an additional layer of security, facilitating consumer authentication with their card issuer during online purchases.
| Group Photo from the Meezan Bank PCI 3DS Certification Ceremony
| Group Photo from the Meezan Bank PCI 3DS Certification Ceremony
Commenting on this achievement, Mr. Kashif Hassan - Managing Director of Risk Associates, applauds Meezan Bank as the first bank in Pakistan to achieve PCI 3DS certification at present. It signifies Meezan Bank's commitment to implementing robust security measures.

"We are pleased to certify Meezan Bank with the PCI 3DS standard," said Aziz A. Rahim – Chief Operating Officer at Risk Associates. "This achievement highlights Meezan Bank's dedication to ensuring the security and integrity of its digital transactions, setting a benchmark for other financial institutions in Pakistan."

While speaking at the occasion, Mr. Fahd Azam – CISO, Meezan Bank, said, "This achievement reflects our ongoing commitment to safeguarding our customers' financial well-being. As the first bank in the country to achieve PCI 3DS certification, Meezan Bank remains steadfast in providing our customers with the highest standards of security and reliable banking services."

Risk Associates congratulates Meezan Bank on this milestone and remains committed to promoting a secure digital ecosystem in Pakistan through its certification and compliance services.

Shields and awards were presented to several individuals for their exceptional efforts and dedication in achieving PCI 3DS Security Standard v1.0.

Sheikh Muhammad Naeem Riaz – Sr. Manager – Cybersecurity, Mr. Muhammad Rehan - Assistant Manager, Mr. Alishah Aziz Gulzar – Business Development and Mr. Kashif Saleem - Marketing Executive of Risk Associates, were present at the ceremony, alongside other distinguished representatives from Meezan Bank.
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Risk Associates

Risk Associates specializes in assessments against various standards including PCI DSS, PCI Secure Software, PCI PIN, PCI 3DS, C.S.A., and ISO/IEC 27001, along with offensive security services such as Penetration Testing, Vulnerability Scans, Red Teaming, Managed Services, SOC I and II.
With a legacy spanning two decades, Risk Associates has been a leading provider of Information Technology and Cybersecurity services. The company's core mission revolves around mitigating risks and delivering comprehensive compliance, testing, audits, and certifications.
About

Meezan Bank

Meezan Bank is leading Islamic bank of Pakistan and also one of the largest banks nationwide in terms of branch network as well as deposits. With a network of over 1,000 branches in more than 330 cities, it has the largest Islamic banking network in Pakistan.

Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions including its recognition as the ‘Best Bank’ by Pakistan Banking Awards – the most prestigious award in the country’s financial sector for the third time in 2023 and by Islamic Finance News - Malaysia, Global Finance magazine - New York, Asset AAA - Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, South Asian Federation of Accountants, Islamic Finance Forum of South Asian Awards, – Dawn & IBP Pakistan, Employers Federation of Pakistan and CFA Association - Pakistan.

The VIS Credit Rating Company Limited (formerly JCR-VIS Credit Rating Company) has reaffirmed the Bank’s entity rating to the highest possible level of ‘AAA’. The AAA rating denotes the highest possible credit quality, with negligible risk factors, being only slightly more than for risk-free debt of the Government of Pakistan.
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