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Mercantile Credit Bank (MCB), was a Ugandan tier II financial institution licensed by the Bank of Uganda, the national banking regulator. [ 1 ] MCB was classified as "credit institution", one of only four such institutions in this class of financial service providers in the country.
MCB Bank was incorporated as Muslim Commercial Bank in July 1947, shortly before the Partition of India, under the encouragement of Muhammad Ali Jinnah. [2] The founders, Adamjee Haji Dawood and M. A. Ispahani, were joined by directors from major Muslim commercial and industrial families, including the Ispahani, Adamjee, Dada, Arag, and Amin Jute families. [2]
MCB Group is a large financial services conglomerate. As of 31 March 2015, it had an estimated asset base of over US$7.4 billion (MUR 267.7 billion) and estimated shareholders' equity of more than US$1.0 billion (MUR 35.2 billion).
Associated Press Finance 34 minutes ago Stock market today: Drops for Lilly and Big Tech weigh on Wall Street, even as most stocks rise. Drops for Eli Lilly and other influential companies are weighing on U.S. indexes Tuesday, even though most of the market is rising following an encouraging update on inflation.…
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Logo used in 2001. MNET Services Private Limited was a Pakistani operator of inter-bank connectivity platform of MCB Bank Ltd (formerly known as Muslim Commercial Bank) for online financial transaction processing and offers a managed services portfolio that includes card personalisation & management, mobile payment services and ATM & POS controller hosting.