PRISM Services

Pakistan Real-time Interbank Settlement Mechanism (PRISM) / RTGS

You can quickly and conveniently transfer funds from your MCB Islamic Bank Limited account to accounts at other banks across Pakistan and also receive funds from accounts at other banks to your account.

It frees you of the worry of carrying cash, inconvenience of handling paper based financial instruments, and hassle of waiting for transaction to be completed.

The instant transfer of funds between accounts at different banks is processed electronically though Pakistan Real-time Interbank Settlement Mechanism (PRISM), which is fast and secure.

Salient Features

Electronic transfer of funds between accounts at different banks in real time
No charges to be paid by the beneficiary
Transfer PKR.100,000 and above amount of money
Transfer money without geographical boundaries in the country

PRISM Funds Transfer Process

Remit Funds

Follow these simple steps to transfer funds using PRISM (RTGS) from your MCB Islamic Bank account to an account at another bank in Pakistan.

Visit any MCB Islamic Bank branch near to you
Bring along your cheque book
Provide a cheque and complete the form with the following minimum details:

Name of the beneficiary

Complete account number or IBAN of the beneficiary

Name of the beneficiary’s bank and branch code

Receive Funds

Provide your complete account number or IBAN at MCB Islamic Bank to the remitter who wants to transfer funds to your account and ask them to contact their respective bank to carry PRISM (RTGS) transaction.

Timing for PRISM (RTGS) Transactions at MCB Islamic Bank

Days : Monday To Friday

Timing: 09:00 am to 03:00 pm

Frequently Asked Questions (FAQs)

1:What is PRISM?

Pakistan Real-time Interbank Settlement Mechanism (PRISM) is a Real Time Gross Settlement Systems (RTGS) mechanism in Pakistan. It enables the banks in Pakistan to electronically make large-value Pakistan rupee payments to one another in real-time.

2. Can I initiate interbank funds transfer request at any MCB Islamic Bank branch?

Yes. You can initiate interbank funds transfer request at any of MCB Islamic Bank branches in Pakistan.

3. What is IBAN?

The International Bank Account Number (IBAN) is an international standard for identifying bank accounts. The IBAN is made up of a code that identifies the country the account belongs to, the account holder’s bank and the account number itself.

4. Where can I get IBAN for my account?

The IBAN for your account at MCB Islamic Bank is printed on your cheque book. You may also visit MCB Islamic Bank website or a branch near to you to find out the IBAN.

5. What is the minimum amount that I can transfer?

You can transfer a minimum of PKR.100,000 using PRISM (RTGS).

6. What is the maximum amount that I can transfer?

There is no upper limit on transferring funds through PRISM.

7. What are the charges for remitting funds using PRISM?

Please see our Schedule of Charges for details – available at MCB Islamic Bank website and branches

8. What are the charges for receiving funds using PRISM?

There are no charges for receiving funds through PRISM.

9. Can I transfer foreign currency funds using PRISM (RTGS)?

No. Funds can only be transferred in Pakistan rupee transaction

10. How long would it take to remit funds to the beneficiary account at another bank?

After submitting complete and correct application for interbank funds transfer using PRISM, the beneficiary bank would receive funds in real-time as these are remitted from the sending bank.