history and functions of MCB

1. MCB BANK LIMITED

2. PRESENTED TO
SIR ASHFAQ
PRESENTED BY
BUSHRA AFZAL
MC19-214

3. History of MCB
• Incorporated in Calcutta, India under the Indian
Companies Act, VII of 1913 on 9th July, 1947
• Commenced its business from 17th August, 1948
• From Calcutta, India Head Office was shifted to Dhaka,
Bangladesh in August 1948 and from Dhaka to Karachi
on 23rd August, 1956
• Nationalized in 1974
• Privatized on April 08, 1991
•

4. MCB Bank Limited is one of the largest Banks in
Pakistan with a total customer base exceeding 7
million. Renowned for its consumer-centric
approach, the Bank has a vast branch network of
over 1,400 branches in Pakistan and abroad, in
countries such as Sri Lanka, Bahrain and Dubai.
Through remote banking services, consumers can
access real time banking from the Bank’s 1350+
ATMs across Pakistan and via Internet Banking
and Mobile Banking.

5. Vision & Mission
• Vision:
Challenging and changing the way you bank.
• Mission:
MCB Bank’s team of committed professionals
is dedicated to maintaining long term
customer relationships through outstanding
service and convenience.

6. ACHIEVEMENTS
Year 2019
1.The Asset Triple A Country Awards 2019 Best Bank – Pakistan
2.The Asset Triple A Country Awards 2019 Best Loan Adviser – Pakistan
3.The Asset Triple A Country Awards 2019 Transport Deal of the Year
4.The Asset Triple A Country Awards 2019 Utility Deal of the Year
5.ICAP & ICMAP Best Corporate Report Award 2018
6.SAFA Award Certificate of Merit 2018 – Private Bank Category
7.Asian Banking & Finance Corporate & Investment Banking Awards 2019
8.Equity Deal of the Year – Pakistan
9.Asian Banking & Finance Corporate & Investment Banking Awards 2019
10.Mergers and Acquisitions Deal of the Year – Pakistan
11.Asiamoney Most Outstanding Company in Pakistan – Financials Sector
12.FinanceAsia Country Awards – Best Bank Pakistan
13.Pakistan Stock Exchange 25 Top Performing Companies (for the performance year
2016 & 2018

8. Operations Department
Now we will discuss about the operations department in
detail
1. Reception
2. Account Opening
3. Clearing
4. Remittances

9. • Fill the pay-in-slips for the deposit of cash
• Fill the pay-in-slips for the deposit of cheques
• Fill the debit card application forms
• To give any other information regarding MCB Bank

11. Lockers
It is the facility provided by the banks for the safe custody of
valuable things of the customers.
Issuance of the Locker
• Application form MF-19
• Specimen signature card
• Either / survivorship from MF-19E (only if locker is in joint
account names)

13. • Individual Account
• Joint account
• Proprietorship account
• Partnership account
• Companies account

14. Basic Requirements
• CNIC (Original + Photocopy)
• Account Opening Form (AOF)
• Specimen Signature Card
• Know Your Customer (KYC) Form
• Undertaking to Maintain Minimum Balance
• An Introduction (Existing A/c holder)
• The customer will sign the AOF.
• The AOF along with relevant documents will be
obtained and forwarded to MO for his approval.

15. Account Opening Form
Four pages of Account opening Form.
(Along with the KYC Form).

16. SPECIMEN SIGNATURE CARD
Form used for the name of
the Account Holder and his/
her signature

17. Accounts
Dormant Accounts
Current account not operated for 6 month and saving account if not operated for
one year become dormant accounts.
Inoperative Accounts
Current accounts if not operative for two years & saving for three years become
inoperative.
Unclaimed Accounts
If current / saving accounts remain inoperative for three years the same should be
transferred from inoperative to unclaimed accounts. If these accounts remain
unclaimed for ten years then become the property of State Bank of Pakistan.

19. Clearing Department
"The transfer of funds from a branch of bank to the other
branch of the same bank or the other bank on which the
instrument is drawn, without involving cash through
"State Bank's clearing house"

20. Types of Clearing
• Inward Clearing
• Outward Clearing
– Local Clearing
– Outstation Clearing
• Cheque Returned

21. • Outward Clearing:
– When the cheque from Bank goes to another bank for
clearing then it is called outward clearing.
Outward clearing> Inward clearing (favorable)
• Inward clearing:
– When the cheque comes in Bank for clearing is called
inward clearing.
Inward clearing > Outward clearing (Against)
Clearing

22. Items necessary on Clearing
Instruments
• Crossing Stamp
• Clearing Stamp
• Date (which should be current)
• Endorsement Stamp on Backside
• Amount in Figures and Words should match
• Signature Verification

23. REQURED STAMPS

24. CLEARING
Inward Outward
Bundle Cover
Final Voucher Prepared
Separate Deposit Slips and Cheques
Cheques Deposited
Scrutiny of Cheques and Deposit Slips
Stamping
Posting
Make Bundle of 50 Cheques per List
Hand Over to NIFT Agent
Outward clearing Process

25. CLEARING
Outward Inward
Send to Account Department
Cheques Withdrawals
Scrutiny of Cheques and Stamps
Posting
Returns Marked
Hand Over to NIFT Agent
Transfer Stamp Attach Return Memo
Return Voucher Prepared
Inward Clearing Process
If cheque is
accepted

26. Cheque Return Memo (SF-16)

27. Remittance is the monitory transfer from
one place to another place or from one
country to another country to fulfill the
requirements of the customers by the
order of the customer.
Remittance deals in these functions:
Demand Draft
Pay Order

28. Demand Draft
A demand draft is an instrument and is issued on the
demand of the customer. It is issued by one branch of the
bank and is payable by the other branch of the same bank.
 Procedure for Issuance of DD
 DD Application form
 Name of the payee should
mentioned Signed by the
purchaser
 Commission and charges
 0.1% commission
 75 postage
FED

29. Pay Order
• Pay order is an instrument through which
payment can be made from one bank to
another bank within city.
•It is issues by and drawn upon and payable by the same
branch of the bank
•It is neither transferable nor negotiable and as such it is
payable to the payee named therein