ACCOUNT OPENING PROCEDURE FOR INDIVIDUAL ACCOUNT : The first step to open an individual account is to fill the account

opening form SF 1AA 1 and Know your customer form SF-1B-1 which is then checked by the operational manager and signatures are taken on a Signature Specimen Card (usually known as SSC). After checking all the information the account is opened on SYMBOLS and customer is then free to deposit or withdrawal any time. If the customer is desirous of ATM card and Cheque book he has to fill out a form for ATM request SF 1C revised and can collect after one week from the branch. The following are the requirements to open an individual account 1. Attested photocopy of computerized National Identity Card / passport of individual. 2. In case of salaried persons, attested copy of his service card or any other acceptable evidence of service, including, but not limited to a certificate from the employer. 3. In case of a person unable to properly sign, two recent passport size photographs of the new account holder besides taking his right and left thumb impression on the specimen signature card. 4. In case of proprietorship account application on companys letter head along with the rubber stamp.

ACCOUNT OPENING PROCEDURE FOR PARTNERSHIP ACCOUNTS : The first step to open a partnership account is to fill the account opening form SF 1AA 1, Know your customer forms SF-1B-1, of all partners, which is then checked by the operational manager and signatures are taken on the Signature Specimen Cards (usually known as SSC). After checking all the information the account is opened on SYMBOLS and customers are then free to deposit or withdrawal any time. If the customers are desirous of ATM card and Cheque book they have to fill out a form for ATM request SF 1C revised and can collect after one week from the branch. The following are the requirements to open a partnership account

Attested photocopy of computerized National Identity Card of all partners. Attested copy of Partnership Deed of Letter of Partnership (CF 13, in lieu of the partnership deed, if not available) duly signed by all partners of the firm. Attested copy of Registration Certificate with Registrar of firms. In case the partnership is unregistered, this fact should be clearly mentioned on the Customer Relationship Form. Authority letter (SF 67) in original, in favor of a person, other than the partners, authorized to operate on account of the firm.

ACCOUNT OPENING PROCEDURE FOR JOINT STOCK COMPANIES: The first step to open an account for a joint stock company is to fill the account opening form SF 1AA 1, Know your customer forms SF-1B-1 of all partners, which is then checked by the operational manager and signatures are taken on the Signature Specimen Cards (usually known as SSC). After checking all the information the account is opened on SYMBOLS and customers are then free to deposit or withdrawal any time. If the customers are desirous of ATM card and Cheque book they have to fill out a form for ATM request SF 1C revised and can collect after one week from the branch. The following are the requirements to open a joint stock company account

Resolution of Board of Directors for opening of account specifying. The persons(s) authorized to operate the company account. Memorandum and Article of Association. Certificate of Incorporation. Certificate of Commencement of Business. Attested photocopies of CNIC of all Directors. List of Directors in Form-29 issued for the Registrar Joint Stock Companies.

ACCOUNT OPENING PROCEDURE FOR CLUBS, SOCIETIES AND ASSOCIATIONS: The first step to open an account for a Club, Societies and Associations is to fill the account opening form SF 1AA 1 , Know your customer forms SF-1B-1, of all partners, which is then checked by the operational manager and signatures are taken on the Signature Specimen Cards (usually known as SSC). After checking all the information the account is opened on SYMBOLS and customers are then free to deposit or withdrawal any time. If the customers are desirous of ATM card and Cheque book they have to fill out a form for ATM request SF 1C revised and can collect after one week from the branch. The following are the requirements to open a Clubs, societies and Associations1. Certified Copies ofCertificate of Registration. By laws, Rules and Regulations. 2. Resolution of the Governing Body / Executive Committee for opening of account authorizing the person (s) to operate the account and attested copy of the CNIC of the authorized person (s) 3. An undertaking signed by authorized person on behalf of the institution mentioning that when any change takes place in the persons authorized to operate on the account, the bank will be informed immediately.

ACCOUNT OPENING PROCEDURE FOR MINOR: The first step to open an account for a Minor is to fill the account opening form SF 1AA 1, Know your customer forms SF-1B-1, of all partners, which is then checked by the operational manager and signatures are taken on the Signature Specimen Cards (usually known as SSC). After checking all the information the account is opened on SYMBOLS and customers are then free to deposit or withdrawal any time. If the customers are desirous of ATM card and Cheque book they have to fill out a form for ATM request SF 1C revised and can collect after one week from the branch. The following are the requirements to open a Minor1. In case of account being operated n the name of the minor (age below: 28 yrs), the word MINOR be added to the title of account. The particular of the Guardian, (if not one of the same account with the minor), be provided as required as required under personal information in the account application. 2. Attested copy of CNIC of guardian along-with form B for minor is provided.

Outward Clearing: When cheques, TCs and other negotiable instruments drawn upon other banks like NBP, ABN AMRO of the same city (as Lahore) are presented in Muslim Commercial bank to deposit them in the respective payees accounts, these instruments are lodged in outward clearing (o/w clg) of MCB bank. Procedure of Outward Clearing: The name of the branch appears on its face where it is drawn It should not stale or post - dated or without date. Amount in words and figures does not differ. Signature of the drawer appears on the face of the instrument. Instrument is not mutilated. There should be no material alteration, if so, it should be properly authenticated. If order instrument suitably indorsed and the last endorsees account being credited. Endorsement is in accordance with the crossing if any. The amount of the instrument is same as mentioned on the paying-in-slip and counterfoil. The title of the account on the paying-in-slip is that of payee or endorsee (with the exception of bearer cheque). If an instrument received other than MCB of Pakistan then special crossing stamp is affixed across the face of the instrument. Clearing stamp is affixed on the face of the instruments, paying-in-slip and counterfoil (The stamp is affixed in such a manner that

half appears on counterfoil and paying-in-slip). The instrument is suitably discharged, where a bearer cheque does not require any discharge and also an instrument in favor a bank not need be discharged. Return Outward Clearing
Over writing No stamp of clearing or if it is not clear No stamp of crossing or if it is not clear

Inward Clearing: Inward clearing means cheques drawn on us and presented by other banks. In inward clearing Branch acts as paying banker. After realization of inward clearing, banks deposits are decreased as bank makes payment to other banks from the balances held by the branch. This realization of inward clearing is also referred to as responding to the clearing. Cheques and other negotiable instruments instruments (PO, DD, PS, CDR etc.) drawn on Muslim bank, sent by other banks, constitute the inward clearing of MCB. Procedure of Inward Clearing:
Instruments with schedules are received from NIFT. Amount of each instrument entered is in inward clearing register. Instruments are detached and handed over to the deposits and other respective department

for checking and payment.

In case of any instrument is returned, return memo is prepared stating the reason of the

return. Entry is made in cheques Return register. Cheques return charges are recovered from the party as per charges schedule.

MCB ISLAMIC BANKING : MCB is the place where they work as a team, having no barriers, no boundaries. At MCB, everything they do is rooted in their values and a true understanding of this diversified market. At the core of it lie not only achieving successful results, but the curiosity to delve into the consumers insights for a better and a simpler lifestyle. The bank possesses sufficient expertise, necessary infrastructure, information technology, and manpower to run Islamic Banking Operation. MCB understands the special needs of the customers desirous of availing local and international financing facilities for their business and trading under Islamic Modes. MCB now provides its customers with the reliable Islamic Financial Services and support they require to successfully

achieve their business objectives. Keeping in view the said purpose bank has recently formed Islamic Banking Division and Islamic Banking Management Committee under the supervision of Mr. Muhammad Shoaib Qureshi, Senior Executive Vice President and Head of Banks Operations and Islamic Banking Group, who has an experience of more than 36 years covering all segments of banking.
DEPOSIT SCHEMES AL - MAKHRAJ SAVING ACCOUNT IANAT ACCOUNT AL-MAKHRAJ TERM DEPOSIT ACCOUNT FUNDS BASED FACILITIES