As per details, A two-judge bench comprising Justice KK Agha and Justice Omar Sial approved the bail of the PPP leader against a surety bond of Rs5 million.
The bench had earlier reserved its verdict after hearing arguments of the defence and prosecution sides.
During the hearing, the National Accountability Bureau (NAB) prosecutor contended that Memon has been accused of misuse of authority.
A complaint was received against the Sindh government with regard to alleged award of advertisements at exorbitant rates, he added.
The investigation officer told the court that 17 people, including the PPP leader, were named accused in the case.
There are a total of 52 witnesses in the reference, out of which 10 have recorded their statements, he added.
Earlier in Oct, 2017, a team of the NAB had arrested Sharjeel Memon after the Sindh High Court (SHC) rejected his bail plea in the corruption case.