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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]
Nishat Group's origins goes back to a leather business in Calcutta, British India, established by Mian Muhammad Yahya. [6] Following the partition of India in 1947, Mian Muhammad Yahya and his three brothers, Mian Hameed, Mian Rafiq, and Mian Ayub, founded Nishat Mills in Pakistan in 1951. [6]
According to the Economic complexity index, Pakistan is the 67th largest export economy in the world and the 106th most complex economy. [10] During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion.
Citi Bank N.A (CitiBank N.A Pakistan) Industrial and Commercial Bank of China Limited (ICBC Pakistan) Bank of China [3] (Bank of China Pakistan Branch) The Hong Kong and Shanghai Bank (HSBC Bank Pakistan) The Bank of Tokyo-Mitsubishi UFJ (MUFG Bank Pakistan) Saudi National Bank (Samba Financial Group|Samba Bank (Pakistan) Limited)
Mian Mohammad Mansha Yahya (Urdu: میاں محمد منشاء) is a Pakistani business magnate who is the current chairman of MCB Bank and one of the richest men in Pakistan. [1] His family owns Nishat Group. [2] Mansha and some of his immediate family members are among the highest tax-paying individuals in Pakistan. [2]
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.
In 2009, Arif Habib sold the bank to Suroor Investments for Rs. 2.7 billion (US$32.5 million) which then merged with Atlas Bank and Mybank to form Summit Bank. [ 3 ] In 2010, Arif Habib merged its investment arm, Arif Habib Investments, with MCB Asset Management to form the MCB-Arif Habib Savings and Investments Limited.
Pakistan Services Limited, Exide Batteries Pakistan: Habib Group: Karachi: Agriauto Industries, Bank AL Habib, HabibMetro, Habib Insurance, Habib Rice, Habib Sugar Mills, Shabbir Tiles, Toyota Indus, Thal Limited [1] Lakson Group: Karachi: Century Insurance, Century Paper, Colgate-Palmolive Pakistan, Merit Packaging [1] Lucky Group: Karachi