An Extra Ordinary General Meeting of Shareholders of MCB Bank Limited was held on January 08, 2016 at a local hotel. At the meeting, the Scheme of Compromises, Arrangements and Reconstruction between MCB Bank Limited and MCB Islamic Bank Limited was discussed and approved unanimously. Upon coming in to the effect of the scheme, 34 branches of what presently constitutes Islamic Banking Group of MCB Bank shall be demerged from MCB Bank Limited and merged in to the MCB Islamic Bank Limited.

-PR

Copyright Business Recorder, 2016