MCB Islamic Barkat Saving Account

This is saving account with relatively higher expected returns along with the flexibility and facilities of any chequing account.

Benefits/Features

MCB Islamic Barkat Saving Accounts can be offered to:

Individuals
All Forms of Association of Persons (AOPs) such as:

Firms (Sole Proprietor, Partnership)s.
Companies (Public and Private Limited)
Trust/Clubs/Societies & Associations

No minimum balance requirement
Profit is calculated on monthly average balance basis

Initial Deposit

Rs. 100/-

Transaction Limit

Unlimited Deposits & Withdrawals

Online Banking

Free

Acceptable Currency

PKR

Profit Payment Frequency

Monthly

Profit Payment Frequency

Monthly

Other Facilitiies

Cheque Books
Banker’s Cheque
ATM/Debit Card
SMS Alerts
Internet Banking
Mobile App
Phone Banking (24/7 Call Centre)

Nature of Product

MCB Islamic Barkat Saving Account a profit bearing account based on the principles of Mudarabah, where Customer is “Rabb-ul-Maal” and Bank is “Mudarib”. Bank may, at its discretion, use or employ such funds as it deems fit under the products and avenues approved by Shari’ah Board of the Bank. Bank shall share the profit on the basis of predetermined profit sharing ratio. Return on deposits will be based on predetermined weightages for each month or any interval decided by the bank and announced as per SBP’s instructions. A sheet containing this information shall be available on Customer’s demand and also be placed at the public notice board of branches and on the website of the bank.
In the event of loss to the pool, all the investors of the pool shall share such loss proportionate to their investment.

For more information, please call our Contact Centre at 042-111-222-642, or visit your nearest MCB Islamic Bank Branch.

Note: Terms and Conditions apply. All taxes and Zakat are applicable as per Government regulations, and all Bank Charges are applicable as per the prevailing Schedule of Charges (SOC).