Meezan Bank Discontinues Payment Services for Netflix
Islamic branch of Meezan Bank has discontinued payment services for Netflix owing to the online site’s conflicting nature with Islamic Shariah.
The decision has been taken by Shariah Board of Meezan Bank that has stated that since Netflix is an online streaming site for movies and dramas – a discouraged practice as per Islamic laws – users will not be offered services pertaining to monthly payment of the site’s subscription.
Albeit that State Bank is the central body on decision making of laws and regulations that banks are obliged to adhere by, it is a bank’s own discretion to offer a service or discontinue it for its customers, said Shariah board of Meezan Bank.
Netflix, the online site that allows access to various movies and television shows for a monthly payment has rapidly gained popularity in Pakistan. After the discontinuation of the service, Netflix’s Pakistani subscribers who have been using Meezan Bank’s (Islamic banking) cards will not be able to make payments from now onwards.
