Demerger from MCB Bank

MCB Islamic Bank Limited obtained its banking license from the State Bank of Pakistan on June 12, 2014 and Commencement of Banking Business on September 14, 2015. Hailed as the first demerger transaction in the banking sector in Pakistan, through this transaction, the Islamic banking business of MCB Bank Ltd. in the form of thirty-four (34) branches was segregated and demerged from MCB Bank Ltd. and was transferred to MCB Islamic Bank Ltd. by operation of law.