Transaction Banking – Products and Services

Payments

1. Corporate Internet Banking Online Payment Portal–(Please click for terms and conditions for the service)

   MCB Islamic Bank Limited is using Oracle Banking Digital Experience (OBDX) platform to provide Corporate internet banking services to its business customers. It is designed to help the bank respond strategically to today’s business challenges, while also transforming business models and processes to reduce operating costs and improve productivity across both front and back offices, for bank and client. Brief details / features of the services to be offered;

   • Customer can perform funds transfer (FT, IBFT, RAAST), pay bills, request RTGS online or request for Pay-orders at any branch – no manual request required, print customized Cheque with scanned signatures as per mandate while traveling.
   • Connect with Subuk business for payments with their ERP via Host2Host.
   • Track LC’s and other trade transactions.
   • Request Cheque books, stop and block marking of Cheque.
   • Single and bulk payment methods of all transactions.
   • Future dated transactions (prepare, authorize and release payment today with processing date any day in future).
   • One user access for users of a group of companies. Same person can be signatory in 5 companies, will need one user ID to authorize transactions (Party to Party link).
2. Bulk Payment
   • Send manual request letter and Cheque to branch, and email payment file to TBO.
   • TBO will process transactions and will share MIS.
   • Can process dividend payments, sugar payments, salaries, etc.
3. Payment Upon Identification – PUI
   • Customer wants to pay salaries in cash, will share PUI data with bank using Subuk Business or via email and a debit authority to make payment.
   • The beneficiary will visit any branch in Pakistan with original CNIC, will get paid after bio-metric verification.

Strucured Collection / Receivable Management

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.

Any customer with following 3 characters is your potential receivable customer:

1. Payer and Payee knows each other (such as schools get fee, or distributor receive funds from market) or Payee wants to know who deposited funds (NGOs because they need to submit data to regulators)
2. Normal deposit slips cannot capture the tracking number and may need special deposit slip or fee voucher
3. Bank help customer in accurate data of collected funds   

1. Over the counter collection
   • With 300+ branches and its collection mechanism built in the core banking provides better offering for funds management to the customers.
2. ADC channels
   • Fee can be collected online – We have entered into an agreement with a bill aggregator for collection via digital channels, which means any payer can use their own bank’s application to pay the fee to the company against a unique identifier, so company/payee can keep complete tracking.

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.

1. Seamless transition to MCB Islamic EB through bulk account opening process.
2. Smooth salary disbursal
3. Hassle-free account opening activity at Client’s door premises.
4. Minimum documentary requirement.
   • Company will provide data via email and CNIC of staff for opening account
   • Bank will open accounts (with debit and credit block) generate ATM and Cheque book
   • Bank staff will visit customer office, get AOF signed and deliver welcome packs with only one visit
5. 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*

1. 1. • Free* means Rs. 1/- + applicable tax
      • ** Pay Pak debit cards entail alliances with various merchants for details: https://www.mcbislamicbank.com/personal/digital-banking/mib-debit-card/discount-partners/
      • * Product/Services Conditions apply. 

Merchant Acquiring  

Accept payments with ease and give customers a seamless, secure and convenient payment experience. Our Merchant Acquiring Services enable businesses to accept digital payments through P2M QR and POS, supported by reliable payment acceptance solutions tailored to business needs. Whether customer operate a small business or a large enterprise, we offer customers simple and convenient ways for funds receipt.