EXECUTIVE SUMMARY The banking structure in Pakistan comprises of the following types, State Bank of Pakistan, Commercial Bank of Pakistan; Exchange Banks, Saving banks, Cooperative banks, Specialized credit institutions. The state bank of Pakistan is the Central bank of the country and was established on July 01, 1948. The network of bank branches now covers a very large segment of national economy. The State Bank of Pakistan issues the shares of these periodically. Bank employees and other common peoples can also purchase these shares and earn profit. In 1956, MCB transferred its Registered office to Karachi, where the Head Office is presently located. In April 1991, MCB became Pakistan’s first privatized bank. The corporate branch at Shahrah-e-Faisal Karachi (SFK) branch is the
corporate branch of MCB in Karachi. The bank is using SWIFT for
transfer of information about imports and exports. MCB SFK branch has
Currently Following three Departments General Banking Department,
Advances Department & Foreign Exchange Department. |
Cash paid voucher sheet, Paying-in-slip, Cheque Book, Cash balance book. The clearing in Karachi at MCB or other banks is being done through NIFT (National Institute of Facilitation Technology).
Bank provides this facility to the people who need advance money to meet their requirement. Party dealing with other banks financial condition of borrower business and as a first step credit proposal is being made. MCB provides advances, which are two types. Secured Advances, Unsecured Advances. MCB usually classified advances in to following types Agricultural Advances, Commercial Advances
Demand Finance, Cash Finance, Foreign bills purchased, Finance against imported goods, Finance against foreign bills, Export Refinance Part I (Pre Shipment) & others. Banks Agriculture division deals with the agriculture advances. Bank provides the Agriculture Advances in order to enhance and support the agriculture sector of the country. Farm Credit & Non Farm Credit.
In foreign exchange, MCB is dealing Foreign Currency Accounts, Foreign Remittances, and Foreign Bills for Collection, Imports & Exports
Foreign currency accounts & the foreign currency department deals with the following types of accounts, Dollar Khushali account, Current account, Saving bank account, Term deposit, Prime Currency Scheme. Foreign accounts are convertible on floating rate available to the bank. Letter Of Credit facility is being provided by MCB in foreign exchange.
