Safeguarding our valued Customer’s interest have always been our top priority and we are making constant efforts to improve this aspect of our business along with innovation in other areas. To protect customer interest, globally financial institutions like MCB IM follow the practice of marking Customer’s Account dormant which primarily mean that all activities in Account are suspended until customer himself ask for re-activation of Account. In Pakistan, Banks are required to mark an Account dormant if there is no activity for a period specified by State Bank of Pakistan. Therefore, in order to protect your credentials and investment accounts maintained with us we encourage our valued investors to keep monitoring their investment account by utilizing our digital savings platform iSave. We at MCB IM understand that generally our customers keep long term savings with us, therefore in an event where our valued customers do not transact, login to their respective account or make a balance inquiry at our Contact Centre over the period of three years (1095 days), such accounts will be marked as Dormant as per the below mentioned policy.

Dormant Account Policy of MCB Investment Management Limited (“MCB IM”) is prepared in compliance with the requirements of the Securities and Exchange Commission of Pakistan (Anti Money Laundering and Countering Financing of Terrorism) Regulations, 2020 and SECP’s directives.

As a policy, MCB IM shall mark “dormant” or “in-operative” all accounts having no customer originated transaction or activity during the last three years (1095 days).

“Customer originated transaction” includes any transaction carried out by the Customer in his/her account such as investment, redemption, conversion or transfer transaction.

“Activity” includes any activity carried out by the Customer with respect to his/her account such as logging into iSave online portal, generation of statement of account through iSave online portal, confirmation of balance or request for statement of account through call center, etc.

In case the account is marked dormant or in-operative, the customer shall be required to activate dormant account before any transaction.

Once the investment account(s) is marked dormant then no transaction shall be allowed through any mode (physical / digital) until the account is activated by submitting the required forms alongwith documents as mentioned below.

For account activation, the Customer shall be required to provide the following documents:

(a) an attested copy of valid and unexpired Identity Document (CNIC/ NICOP/ Passport);

(b) duly filled and signed KYC, FATCA and CRS-1 Form for Existing Unitholders; and

(c) a copy of source of income/ funds related document. List of required source(s) of income/funds documents are provided in Paragraph No. 6 of “For Individuals” on our website (https://www.mcbfunds.com/downloads-2-2/list-of-required-documents-for-account-opening-kyc/)

HOW TO SUBMIT REQUIRED DOCUMENTS?

The required documents can be submitted by using any of the following channels:

1. Scanned copies can be emailed at kyc@mcbfunds.com ;
2. Scanned copies can be WhatsApped at +923004362224; or
3. Required documents can be submitted to your MCB IM Relationship Manager; or
4. Required documents can be dispatched to MCB IM Investor Services Department at 2nd Floor Adamjee House, I.I Chundrigar Road, Karachi, Pakistan.