MCB Islamic Bank Limited

MCB Islamic Bank Limited provides Shariah-compliant products in Pakistan. It offers individual banking, business & corporate financing, and investment banking services. These are based on Islamic finance modes like Qard, Mudarabah, Murabahah, Ijarah, and Musawarakah.

Individual Banking Solutions

The bank has Mudarabah Savings Accounts. Profit is shared based on a monthly weighting. Funds are from a Shariah-approved investment pool. The Shariah Compliant Current Account uses a Qard contract. Deposits are non-remunerative and payable on demand. The bank deploys these funds in approved Shariah-compliant avenues. Term Deposit Accounts use a Mudarabah contract. They have fixed tenor intervals for profit allocation. Profit rates are determined by SBP-mandated weightages.

MCB Islamic Bank offers various debit cards. The UPI Platinum Debit Card supports dual-currency UnionPay and PayPak. It features contactless NFC and EMV-compliant chip & PIN security. The UPI Qadar Gold Debit Card uses UnionPay and 1Link networks. It includes daily contactless limit controls. This card offers dynamic CVV and fraud-monitoring services. The UPI Qadar Classic Debit Card accepts PayPak and UnionPay. It combines magnetic stripe and chip technology. Online transaction tokenization is also included. The PayPak Classic Debit Card uses the domestic 1Link network. It features EMV chip & PIN security. Offline PIN verification is available for ATM withdrawals.

MCB Islamic offers MICAR (Motor Ijarah Car Financing). This uses a Diminishing Musharakah structure. The equity ratio is set at origination. Tenor is up to 5 years. Pre-termination is allowed with notice. Rihayesh Finance provides Diminishing Musharakah home financing. Equity and financing shares are defined upfront. Tenor can extend up to 20 years. No processing fee applies on household incomes up to PKR 100,000. The MCB Islamic Mobile App offers single-sign-on. Users can activate/deactivate it via a portal. Biometric login and configurable transaction limits are available in-app.

Business and Corporate Offerings

The bank provides Murabaha Microfinance for Business. This is a Murabaha sale contract. Financing extends up to PKR 500,000 per client. The profit margin is fixed at sanction. Tenor can be up to 36 months. Business Current Accounts operate on a Qard contract. They feature non-remunerative deposits payable on demand. These accounts support multi-signatory and sweep-in/sweep-out functionality. Working Capital Finance uses Commodity Murabaha structuring. It offers a revolving facility up to an assigned limit. Each drawdown has a 30-90 day tenor. An automatic rollover option is available. Long Term Finance includes Ijarah and Istisna financing. It covers Islamic leasing for fixed assets. Tenor is up to 10 years. A step-up profit rate is optional.

Corporate Trade Service includes Documentary Credits (LC) and Collections. These operate under UCP 600 / URC522. Trade-related guarantees are available with SBP-approved forms. Corporate Internet Banking allows multi-user access. It has role-based entitlements and daily transfer caps. SWIFT and local clearing integration is provided. E-statement delivery is also a feature. The bank facilitates SBP Refinancing Schemes. These involve targeted funding under SBP mandates. Examples include LTFF and ERF. The profit rate is capped as per SBP circulars. Tenor follows scheme terms. MCB Islamic also acts as a disbursement agent for Government Schemes. These are SBP-sponsored Riba-free schemes. They offer zero markup on tranches. Automated claims submission is done through the SBP portal.

Specialized Investment Services

Project Finance uses an SPV-based structure. Risk allocation occurs via a security trustee role. It offers limited or no recourse to sponsors. A cash-flow waterfall is defined. Debt Capital Markets involve Sukuk Structuring. This includes Sukuk issuance advisory, book-running, and placement. Shariah Board certification adheres to AAOIFI standards. Equity Capital Markets cover Public/Private Placements. Services include underwriting and book-building. Lock-in and stabilization options are available. Due-diligence follows UCR and PSX guidance. Mergers & Acquisitions Advisory provides financial and commercial due diligence. It includes enterprise valuation. Deal structuring uses Musharakah / Mudarabah models. The bank offers Syndicated Financing. It acts as facility agent, security trustee, and book-runner. Multi-jurisdictional compliance is maintained.