MCB now provides its customers with the reliable Islamic Financial Services and support they require to successfully achieve their business objectives.
Islamic Banking Division was formed with effect from 1st January 2003, which in a short span of time, has developed sufficient expertise, necessary infrastructure, information technology, and manpower to run Islamic Banking Operation and offer Islamic Banking Products.
Islamic Banking Management Committee
The bank has established an Islamic Banking Management Committee comprising of the senior executives representing various important functions of the bank, such as, Credit & Risk Management, Finance, Treasury, Operations, Islamic Banking Division and Sharia Advisor.
The objective of this committee was to review the products offered by Islamic Banking Branches, and to improve them not only to make them competitive and practicable but also make them truly Sharia Compliant.
Sharia Advisor
Dr. Muhammad Zubair Usmani, working as Sharia Advisor in our bank since July 2000 is a prominent scholar having Ph.D. degree in Islamic Finance as well as Fazil Takhassus from Jamia Darul Uloom Karachi, (i.e. specialist of Islamic Fiqh and Fatawa).
He has attended and addressed several international and local seminars / conferences as guest speaker in Pakistan as well as abroad.
He has also worked as Research Scholar and member of various forms and committees formed for promoting the cause of Islamic Banking in Pakistan and abroad
Legal Advisor
M/s Mohsin Tayebaly & Co., Advocates & Legal Consultants, has vetted all documentation. M/s Mohsin Tayebaly & Co. not only has expertise in legal affairs but also has competent lawyers possessing knowledge of Sharia.
