Cash Management

Collection

MCB Islamic Bank has a significantly enhanced capability of receiving collections on behalf of Bank’s customers, whereby we can support diverse requirements of our clients for receiving payments from their payers throughout the bank’s branch network. Customized MIS reports can be generated and readily available to the customer. Both conventional and advanced data sharing through API connectivity are available.

Moreover, in order to further facilitate our customers, the Bank has correspondent bank arrangement with MCB Bank Ltd. Under this arrangement, depositor of our customer can deposit cash and instrument in already mapped branches of MCB Bank Ltd and funds will be transferred to customer’s account being maintained at MCB Islamic Bank along with MIS report.

Payments

Corporate Internet Banking

  • Online Payment Portal
  • Internal funds transfer – IFT
  • Inter Bank funds transfer – IBFT
  • Real Time Gross Settlement – RTGS
  • Banker’s Cheque – Electronic
  • Utility Bill Payments
  • Tax Payments
  • Stationary – Corporate Cheque
IFT (Internal Funds Transfer) / IBFT (Inter Bank Funds Transfer)

MCB Islamic Bank has an advanced electronic payment platform (OBDX) powered by Oracle whereby different mode of transactions can be routed such as Internal Funds Transfer (IFT), Inter Bank Funds Transfer (IBFT). The client has the option of making single transactions or bulk file transfer.

The dashboard is user friendly, fast and hassle free along with improved controls, efficient yet reliable, paperless yet traceable for audit purpose.

Payment Upon Identification

PUI provides the opportunity to make payments to unbanked individuals via transfer money, with complete record for audit and gives control to client / payer to monitor authenticity of payee. It allows clients to upload payment instructions/ data on Bank’s platform through secured protocol, enabling beneficiaries to collect the cash from MCB Islamic Bank branches, up to the limit of PKR 50,000/- per transaction.

Corporate Cheque

The customer can avail Co-branded Corporate Cheques with digital signature imprint facility which can save time and effort on customer’s part. The security stationary is provided to the customer and using Corporate Internet Banking, digitally signed Corporate Cheques can be printed at customer’s premises.

Banker’s Cheque

In order to save time, the customer can log in to Corporate Internet Banking platform and select any MCB Islamic Bank branch in any city to issue Banker’s Cheque to the specific beneficiary, who can collect it from the selected branch. It not only saves time but also administrative cost to the customer.

RTGS – Real Time Gross Settlement

The customer can initiate RTGS transaction through click of a button on Corporate Internet Banking portal, which also saves time and effort and Standard RTGS timings apply.

Employee Banking

Employee Banking at MCB Islamic Bank brings a wide array of solution with features available exclusively for the employees. Keeping in view the workload on employees of any organization, the Bank’s dedicated staff visit the employer’s premises and account-opening formalities are conducted accordingly.

Our efficient onboarding and dedicated experienced relationship management team ensures that the customers are offered banking services that are up to their expectations and meet all banking requirements of our customers. MCB Islamic is pleased to offer following benefits as part of our Employee Banking Services.

  • A scalable payroll solution for all your payroll management needs
  • Seamless account-opening at your business premises
  • Salary transfer through “Corporate Internet Banking” to all Payroll accounts across MCB Islamic Branch Network on real time basis
  • Dedicated Relationship Manager to address all employee banking related queries
  • Dedicated technical team to support and assist with “Corporate Internet Banking” portal
  • Cheque Books and Debit Cards delivered with ease
  • FREE General Takaful coverages for Employee Banking accountholders for Cash Withdrawal, Wallet / Identification Documents, and Mobile Phone against the risks of armed holdup, snatching, duress, and/or forced deprivation. CLICK HERE FOR MORE DETAILS
Following benefits will be offered to employees in their personal accounts*
Features MCB ISLAMIC Bank – Employee Banking Benefit
Cheque Book issuance NIL / waived for Employee Banking customer
Issuance of Debit Card 1st Cheque book free* (10-Leaves).
Annual Fee of Debit Card Classic/**Pay Pak/Gold/Platinum
Annual SMS alert Fee. Free*
Banker’s Cheque issuance/Pay order issuance Free*
Stop Payment of Cheque. Free*
Duplicate account Statement. Free*
Intercity charges. Free*
Account Certificate. Free*
Same day clearing. Free*
Internet / Mobile Banking. Free*
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