Pensioner Accounts – Welcome to MCB Islamic Bank Website

MCB Islamic Pensioner Accounts

The Individuals whose only source of income is pension, whether received from any government or private organization, and such individuals are not employed in any income earning employment. All such Individuals can now open their Sharia’h compliant pension account in MCB Islamic Bank Limited.

Benefits / Features

Available in Pak Rupees Only
Available in Current & Saving Variants
Free First Issuance of Debit Card (Any variant except Platinum)
Free First Issuance of Cheque Book (25 Leaves)
No Initial Deposit Requirement
No Minimum Balance Requirement
Unlimited Deposits & Withdrawals
Profit Calculation is based on Daily End Balance and paid on a monthly basis

Other Facilities

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

Nature of Product

MCB Islamic Pensioner Current Account is based on the concept of “Qard” where the Customer is “lender” and the Bank is “borrower”. The amount deposited by Customer in this account shall remain payable by the Bank to the customer until paid. Bank may at its discretion use or employ such funds as it deems fit in approved Shari’ah Compliant avenues. This is non-remunerative chequing account where the bank is liable to pay your money back on demand without any additional charges.

MCB Islamic Pensioner Saving Account is 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.

Key Fact Sheet

MCB Islamic has taken a proactive approach to promote responsible and transparent banking practices. To help customers make informed decisions about our products, we have created Key Fact Statements (KFS) that provide a comprehensive overview of the affordability, features, pricing, and other important factors of our banking services. We encourage you to review the below KFS sheet carefully to make informed decision.

KFS for MCB Islamic Pensioner Accounts

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