MCB bank is owned by Mansha Group of Mian Muhammad Mansh who enjoys cordial relations with Pakistan's prime minister Nawaz Sharif. There are unconfirmed reports that the group has paid heavy amount to the government and as a result it is out of cash. The bank is now hold cash of its account holders by delaying payments. Say for instance it now takes 4 to 5 days to clear bank drafts insteasd of overnight clearance as is practiced by the other banks.
The bank has closed its ATMs without any announcement and warning to its consumers. Finding it opportune to solve its liquidity problems the bank has decided to close down its ATM network on the protest of Long march which is held in Islamabad some 40 km away from some of its branches.
In Pakistan MCB Bank has stopped all its ATMs in Rawalpindi.
The bank has closed its ATMs without any announcement and warning to its consumers. Finding it opportune to solve its liquidity problems the bank has decided to close down its ATM network on the protest of Long march which is held in Islamabad some 40 km away from some of its branches.
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