TERMS AND CONDITIONS

THE USE OF BILL PAYMENTS SERVICES THROUGH ISAVE

Please read these terms and conditions carefully.

These terms and conditions set out the rights and obligations of you, the customer, and us, MCB Investment Management Limited, in connection with your use of our online BILL PAYMENTS services (iSAVE), the Service which is named as and appears in iSAVE APP/Web portal as “iBILL”. All the terms and conditions of this agreement are legally binding, so please read them through.

This agreement:

• Replaces all earlier terms and conditions relating to the Service (if any) except where we advise you otherwise;
• Is in addition to the terms and conditions that apply to the individual Eligible Accounts you may be accessing through our Service. If there is a conflict between the terms and conditions of this agreement and any other relevant terms and conditions, the terms and conditions of this agreement will prevail as far as the issue relates to the Electronic Services provided through MCB Investment Management Limited for BILL PAYMENTS; and relates only to individual accounts in your sole name (Eligible Accounts).

In the last section of this agreement, you will find definitions of some of the words and phrases used in these terms and conditions.

By accessing this Site or any pages thereof, you unconditionally and irrevocably agree to be bound by the Terms and Conditions. If you do not agree with these Terms and Conditions, please do not access this Site or any pages thereof.

In consideration of MCB Investment Management Limited providing the Service through digital platform iSAVE, I fully acknowledge, understand and accept the following:

1. THE ACCOUNTS ON WHICH YOU MAY USE THE SERVICES

1.1 By agreeing to be bound by the terms of this agreement, you agree that the Service will be available on all Eligible Accounts with us, whether open now or opened in the future. The Service cannot be used on some types of accounts and we will advise you from time to time as to which accounts are eligible.

1.2 In order to use the Service, you must be registered by us to use the Service.

1.3 You may register for this service through our online portal iSAVE.

1.4 You also agree that your entire telephone conversation with the authorized representative may be recorded at the discretion of MCB Investment Management Limited for any particular purpose including use in the court of law for evidence purposes.

1.5 To irrevocably and unconditionally accept as binding any Service availed and/or transaction and/or instruction made or given through the Service by you at your own risk and responsibility.

1.6 MCB Investment Management Limited’s records of any transaction/service processed/availed through the Service shall constitute binding and conclusive evidence of such transaction/services.

2. YOUR RESPONSIBILITIES FOR SECURITY

2.1 To ensure that you alone are able to access and give instructions on your Eligible Accounts using the Service, you must adopt and at all times maintain the following security procedures.

2.2 To enable you to use the Service, we will verify your registered mobile number provided through PAKISTAN MNP (Mobile Number Portability) DATABASE (GUARANTEE) LIMITED (PMD). This will allow us to ensure that your provided mobile number is registered against your own CNIC.

Safeguarding your Password and Security PIN

2.3 In connection with your Account Security:

2.3.1 you should change your Password regularly and shall do so whenever the Service requires you to do so. You should not choose a Password you have used before;

2.3.2 whenever you choose a Password, you must take care not to choose a number that is likely to be guessed by anyone trying to access the Service pretending to be you. For example, you should avoid your own or a relative’s birthday, or any part of your telephone number;

2.3.3 you must take all reasonable steps to ensure that you safeguard your Password at all times, whenever possible. You must not disclose any details of your Password or Security PIN to anyone else, to a member of our staff, or to someone giving assistance on a technical helpdesk in connection with the Service;

2.3.4 you must not record your Password or PIN in a way that could make them recognizable by someone else;

2.3.5 if you discover or suspect that your Password or any part of them are known to someone else, you must immediately change the Password yourself through the Service. If this is not possible, you must notify us immediately by telephoning us on 021 11 11 ISAVE(47283) (or any other number we may advise you of from time to time for this purpose). We will suspend use of the Service immediately. Please note that MCB Investment Management Limited will not under any circumstances be held responsible for any unauthorized use of the Services prior to notification made as provided above.
Checking your statements
2.4 If you become aware of any transaction on any of your Eligible Accounts that has not been validly authorized by you, you must notify us immediately by telephoning us on 021 11 11 ISAVE(47283) (or any other number we may advise you of from time to time for this purpose). For this purpose, you are reminded that you must, as is required of you for all your Eligible Accounts, check all Account Statements for any unauthorized transactions.

Other security safeguards

2.5 You must not allow anyone else to operate the Service on your behalf.

2.6 You must not leave Your System unattended while you are on-line to the Service.

2.7 You must not access the Service from any device connected to a local area network (or LAN), such as an office environment, without first making sure that no one else is able to observe or copy your access or obtain access to the Service pretending to be you.

2.8 You must comply with any other requirements designed to protect the security of your use of the Service which are notified by us to you in any other way.

3. YOUR AUTHORITY TO US TO CARRY OUT INSTRUCTIONS

3.1 You agree that the use of the Security Password agreed between us for the Service is adequate identification of you. We are entitled to act on instructions without obtaining any further written or other confirmation from you, even if those instructions are not actually given or authorized by you.
Your liability for unauthorized instructions
3.2 We will not be liable for misuse of your Password by someone to give unauthorized instructions purporting to come from you provided that you prove to our satisfaction that you have:

3.2.1 ensured to our complete satisfaction that all the security procedures described in sections 2.1 to 2.3.4, inclusive and 2.5 to 2.8 inclusive have been faithfully observed; and

3.2.2 notified us that your Password is or might be known to someone else in accordance with section 2.3.5. prior to the unauthorized transactions.

3.2.3 you will be held liable for all losses and expenses due to unauthorized use if you have acted fraudulently or, with gross negligence, with intentional misconduct or if you are in default of any of the security obligations described in sections 2.1 to 2.3.4 inclusive and 2.5 to 2.8 inclusive or the notification requirements of section 2.3.5.

3.3 You will not be responsible nor have any liability for any instruction that is not authorised by you but is given using your Security Password if:

3.3.1 such instruction is given after you have notified us that you have discovered or suspect that your Password is known to someone else in accordance with section 2.3.5; or

3.3.2 your Password has become known to the person giving the unauthorized instruction as a result of our failure to comply with clause 7.1 or any gross negligence or willful default on our part.
Acting on your instructions
3.5 When we receive a transaction instruction from you through the Service, we will be entitled to debit any payment payable for the transaction from the account you have specified. Once you have given an instruction through the Service, you will not be able to reverse it. We will be under no obligation:

3.5.1 to reverse an instruction you have given; or

3.5.2 to accept an instruction that is conditional or reversible or which requires us to pay a third party sooner than we would be able to pay them following our normal practices. However, if you do ask us to reverse an instruction after you have given it, we may at our discretion try to do so to the extent that this is possible under the rules and practices of the banking system / applicable laws. You agree that you will be responsible for any costs we incur as a result.

3.6 We may, when we believe we are justified in doing so:

3.6.1 refuse to carry out an instruction given via the Service; or

3.6.2 We will not be responsible for any loss direct/indirect to you that results from the service.

3.7 When you give an instruction via the Service, we will act on that instruction in accordance with the cut-off times notified to you through the Service. From time to time we may notify you of changes to these cut-off times. Instructions given at any other time may not be acted on until the next Business day.

4. IF YOU HOLD ANY JOINT ACCOUNTS

The Service may not presently be used by you with joint accounts. If MCB Investment Management Limited makes the Service so available, it shall also make available the terms and conditions of use.

5. OPERATING TIMES, CHANGES AND DISRUPTIONS

5.1 We shall take reasonably practicable steps to have the Service be usually available for use. You accept, however, that routine maintenance requirements, excess demand on the systems and circumstances beyond our control may mean it is not always possible for the Service to be available during its normal operating hours.

5.2 In connection with the Service, we are entitled at any time to:

5.2.1 change the mode of operation; or

5.2.2 add to, remove or otherwise change, end or suspend any of the facilities available; or

5.2.3 end the Service.

If we decide to change or end the Service, we will try to give you 30 days notice or whatever shorter period of notice may be reasonable in the circumstances.

5.3 MCB Investment Management Limited will not be responsible if you are unable to gain access and/or use Services due to reasons beyond MCB Investment Management Limited’s control, including with limitation, any computer, telecommunication, electrical, technical or network failure or malfunction and routine maintenance/update requirements.

6. SERVICE SOFTWARE COMPATABILITY

6.1 We shall not be liable to you for any loss you suffer as a result of any incompatibility between the Service Software and any computer or other device from which you access the Service.
Protecting against Viruses
6.2 You must take all reasonably practicable measures to ensure that any computer or other device from which you access the Service is free of any computer virus or similar device or software including, without limitation, devices commonly known as software bombs, Trojan horses and worms (together “Viruses”) and is adequately maintained in every way. The Service can be accessed through the Internet or other communication channels as the case may be, public systems over which we have no control. You must therefore ensure that any computer or other device you use to access the Service is adequately protected against acquiring Viruses.
Using other people’s devices
6.3 You must not access the Service using any computer or other device which you do not own. You will not access and user Services on a computer or device which belongs to any other person or which is owned and provided to you by your employer unless you have first obtained the owner’s permission to do so. If you break this rule, you must compensate us for any and all loss we suffer as a result.
Access through third party services
6.4 We cannot be responsible for any services through which you access the Service that are not controlled by us, or for any loss you or the service provider may suffer as a result of you using such a service. You must comply with all the terms and conditions of such a service and service provider and pay all the charges, damages etc connected with it.
Ownership rights in connection with the Service Software and other information
6.5 The Service and all other material and information supplied to you contain valuable information that belongs to us or others. You must not:

6.5.1 use them except in connection with accessing the Service;

6.5.2 take copies, sell, assign, commercially rent, sub-license, otherwise transfer them to any third party; or

6.5.3 try to decompile, reverse engineer, input or compile any of the service Software.

6.6 If you access the Service from a country outside Pakistan you are responsible for complying with the local laws of that country, including (but not limited to) obtaining any license needed for the import / export of the Service Software to that country.

7. TERMS GOVERNING THE USE OF BILL PAYMENTS SERVICES

7.1. The Customer will be able to access the BILL PAYMENTS services through the Channel where BILL PAYMENTS services are made available in accordance with these Terms and Conditions and the prevailing terms and conditions for the Account(s) and the relevant Channel (as may be prescribed by MCB Investment Management Limited from time to time) and to the rules, regulations, manuals and/or guidelines of the BILL PAYMENTS System and any funds transfer system to which MCB Investment Management Limited belongs to. In the event of any conflict between these Terms and Conditions for BILL PAYMENTS and the other terms and conditions for the Account(s) and/or the relevant Channel, these Terms and Conditions shall prevail.

7.2. The Customer intending to use BILL PAYMENTS shall submit to MCB Investment Management Limited the Instructions in such form as may be prescribed by MCB Investment Management Limited from time to time and shall include all such information as required by MCB Investment Management Limited.

7.3. The Customer shall ensure that the particulars of the Instructions are complete and correct as to make a successful payment from the Account(s) for the respective utility bill and that the selected bill payment is available on the iSave Bill Payments Platform.

7.4. Any instructions submitted shall be irrevocable and deemed correct and binding on the Customer and payments shall be made based on the bill details selected by the Customer.

7.5. All Instructions submitted must be received by MCB Investment Management Limited on a Business Day before the designated times stipulated by MCB Investment Management Limited to be processed within the times stated by MCB Investment Management Limited. Where the Instructions are received after the designated times on a Business Day or received on a non-Business Day, they will be processed on the next Business Day or such other day as MCB Investment Management Limited may determine at its absolute discretion. The processing of the Instructions by MCB Investment Management Limited shall also be subject to the terms and conditions and/or approval of the Participating Bank with which the beneficiary’s account is maintained with.

7.6. The minimum and maximum amount of funds for which transaction can be made for BILL PAYMENTS service, shall be as prescribed by MCB Investment Management Limited from time to time and may vary from one Channel to another.

7.7. The Customer shall pay for all service charges, transaction fees and/or any other charges imposed by MCB Investment Management Limited in respect of the BILL PAYMENTS and MCB Investment Management Limited shall be entitled to deduct such fees and charges from the Account(s) or such other account as MCB Investment Management Limited shall deem fit. MCB Investment Management Limited reserves all rights to vary such service charges, transaction fees and/or impose additional fees or charges from 30 days’ prior notice to the Customer.

7.8. The Account(s) must have the funds available for payment at the time of processing of the Instructions. MCB Investment Management Limited shall not be obliged to carry out any Instructions unless the Account(s) have sufficient funds and is/are satisfactorily conducted or maintained.

7.9 Customer will receive an email or SMS in case where payments are made using the online services offered by MCB Investment Management Limited, which will be a conclusive evidence of the service used or transaction made by the Customer. In case of any discrepancy the Customer should immediately contact MCB Investment Management Limited– Help Line.

7.9. MCB Investment Management Limited is not obliged to inform the Customer of:

(a) the rejection (if any) of any Instructions or the result of payments made from the Account(s) for the selected utility bill.

7.10. MCB Investment Management Limited shall not be responsible or liable for any loss, costs or damages incurred or suffered by the Customer and any third party as a consequence of the use of the BILL PAYMENTS service. Without limiting the generality of this provision, MCB Investment Management Limited shall not be responsible for and shall be indemnified by the Customer against any loss or damage caused or sustained (including without limitation to loss of income, profits or goodwill, direct or indirect, incidental, consequential, exemplary, punitive or special damages of any party, including third parties) of whatever nature and howsoever arising, including but not limited to the following situations:

(a) where the transmission of the Instructions to MCB Investment Management Limited or for a bill payment with a Participating Bank/Biller has been delayed, rejected, refused or the Participating Bank is otherwise unable to receive or accept such Instructions;

(b) where the Customer has failed or omitted to provide MCB Investment Management Limited with the timely, complete and correct information for the Instructions including but not limited to the particulars of the Bill Payment.;

(c) where the Customer has failed to maintain sufficient funds in the Account(s) to give effect to the Instructions or is the Account(s) is not satisfactorily conducted or maintained;

(d) where an order of court, governmental directive or regulation or law directs or prohibits withdrawals, payments, transfers or any other dealings from the relevant Account(s);

(e) any other circumstances beyond the control of MCB Investment Management Limited, a Participating Bank/Biller or any other party preventing the processing or receipt of the Instructions;

(f) any delay, destruction or alteration of the Instructions during its transmission through no fault of MCB Investment Management Limited; and/or

(g) any delay or failure to credit the Account(s) with funds arising from instructions received from a Participating Bank/Biller through the 1Link Bill Payment Service, for any reason whatsoever.

7.11. MCB Investment Management Limited reserves all rights to vary, alter these terms and conditions, and to cancel, terminate or suspend the BILL PAYMENTS from time to time without prior notice to the Customer. MCB Investment Management Limited’s decision on all matters relating to the BILL PAYMENTS service will be final and binding on the Customer.

7.12. MCB Investment Management Limited reserves the right to amend the existing terms and conditions or include new terms and conditions at its sole discretion.

8. THE EXTENT OF OUR LIABILITY FOR YOUR LOSS OR DAMAGE

8.1 We will take reasonably practicable steps to ensure that our systems in connection with the Service are installed with adequate security designs and to control and manage the risks in operating the systems, taking into account any law, rules, regulations, guidelines, circulars, codes of conduct and prevailing market practices which may be applicable to us from time to time.

8.2 We will not be liable for any loss or damage to you as a result of making the Service available to you, including any direct, indirect, consequential or special loss, even if we have been advised of the same. Examples of circumstances in which we will NOT be liable to you for loss or damage resulting to you through the use of the Service include (but are not limited to):

8.2.1 acting on an instruction which has been validly authenticated as coming from you but which in fact was given by somebody else (but please see sections 3.2 and 3.3 which explain the exceptions to this rule); and

8.2.2 any incompatibility between Your System and the Service; and

8.2.3 any machine, system or communications failure (except where such failure should have been prevented by the risks control and arrangement measures had we adopted such measures in accordance with clause 7.1), industrial dispute or other circumstances beyond our control that leads either to the Service being totally or partially unavailable or to instructions given via the Service not being acted upon promptly or at all; and

8.2.4 you relying on any financial information or otherwise provided as part, or by means, of the Service; and

8.2.5 any misuse of Your System by you or anyone else; and

8.2.6 any access to information about your Eligible Accounts which is obtained by a third party as a result of your using the Service (except where that access is obtained as a result of our negligence or our willful default).

8.2.7 execution of your instructions being delayed or not being acted upon by MCB Investment Management Limited.

8.3 MCB Investment Management Limited will in no event be liable for any damages, including without limitation direct or indirect loss, special, incidental, or consequential damages, losses or expenses arising in connection with these Services at our site or linked site or use thereof or inability to use, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if MCB Investment Management Limited’s representatives thereof are advised of the possibility of such damages, losses or expenses. However, in the event that we are held liable for any loss or damage to you as a result of your use of the Service, we shall only be liable for direct loss or damage which, in the ordinary course of events, might reasonably be expected to result from the circumstances in question and only if such loss or damage is caused by our gross negligence or willful default. Please note that the Service has no facility for you to let us know that it is especially important to you that a transaction is carried out by a particular time.

8.4 The information and material contained in this Site, including text, graphics, links or other items are provided “as is”, “as available”. MCB Investment Management Limited does not warrant the accuracy, adequacy or completeness of this information and materials and expressly disclaims liability for errors or omissions in this information and material. No warranty of any kind, implied, expressed or statutory including but not limited to the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus, is given in conjunction with the information and materials.

8.5 You shall indemnify us, our employees and our nominees or agents promptly and on a full indemnity basis from or against all actions, omissions, negligence, proceedings, claims, demands, damages, losses (including direct, indirect or consequential losses), costs and expenses including all duties, taxes, or other levies and legal costs as between solicitor and client (on a full indemnity basis) and other liabilities which we may incur or suffer from or by reason of your use of the Service.

8.6 MCB Investment Management Limited shall use its best endeavors to provide error free operation of the account and the services to its customers. Notwithstanding the same, the customer hereby confirms that MCB Investment Management Limited shall not be liable for and indemnifies and agrees to hold harmless MCB Investment Management Limited and its respective officers, directors, employees and representatives, agents and contractors from and against any and all losses, damages, liabilities, payments and obligations and all expenses (including without limitation reasonable legal costs) incurred, suffered, sustained or required to be paid, directly by, or sought to be imposed upon MCB Investment Management Limited, arising out of, inter alia, my/our User ID or password is misused or compromised by any person unauthorized and resulting in suffering of financial loss or fraud by me/us for which MCB Investment Management Limited shall NOT be held liable or responsible under any circumstances for any expense, claim, loss or damage arising out or in connection with this facility and/or agreement.

8.7. MCB Investment Management Limited reserves the right to refuse to honor payment requests that it believes or suspects (rightly or wrongly) are fraudulent or erroneous. The Customer understands, however, that MCB Investment Management Limited’s exercise of this right will be in its sole discretion and the Customer should not rely on MCB Investment Management Limited to discover or prevent loss as a result of a fraud or erroneous

9. IF YOU BREAK A TERM OF THIS AGREEMENT

You must compensate us for any loss we suffer as a result of your breaking any term and conditions of this agreement.

10. ENDING YOUR USE OF THE SERVICE

10.1 You may cancel your use of the Service at any time by giving us written notice/email or by APP/Web iSAVE portal (or in any other way as provided herein or as we notify you about from time to time).

10.2 If you have multiple Eligible Accounts, you may not cancel the Service solely in respect of any one Eligible Accounts, unless you are notified by us to the contrary in writing.

10.3 We reserve the absolute right at any time to cancel the Services with or without assigning any reason, with or without giving any prior notice to you at our discretion.

10.4 If your use of the Service comes to an end for any reason, this will not affect any instructions you have already given via the Service.

11. ABOUT OUR CHARGES

11.1 We are entitled:

11.1.1 to charge you fees and charges for the Service; and

11.1.2 to change those fees and charges from time to time by giving you a 30-day notice to that effect or by effecting such change through MCB Investment Management Limited’s schedule of charges. If we give you such a notice, you will not have to pay any proposed increase so long as you cancel your use of the Service during the 30 days notice period. However, your continued use of the Service after the 30 days notice period or after publication of the change in fees and charges in MCB Investment Management Limited’s schedule of charges shall be conclusively deemed to be your acceptance of such changed fees and charges.

11.2 To avoid any doubt, please note that the references to fees and charges in the above relevant section only apply to our charges for providing the Service. They do not apply to any charges for particular iSAVE or other services we might provide in response to your requests via the Service. We will be happy to provide you with details of our charges for particular services or other services on request.

12. OUR RIGHT TO MAKE CHANGES TO THIS AGREEMENT

12.1 We have the absolute right to change the terms and conditions of this agreement at any time by giving you notice either in writing, by placing prominent notices at our offices or branches for a period of 30 days or by sending you a message via the Service. Your own rights to use the Service will not be affected by the change until you have actually received the notice.

12.2 We will give you 30-day notice of any change before it takes effect, except when notice has to be shorter in order to protect the security of the Service or in other circumstances beyond our control. Once you have received notice of any change in the terms of this agreement, we will treat your subsequent use of the Service as your acceptance of the change (but please remember, you have the right to end your use of the Service at any time).

13. THE VALIDITY OF THE TERMS OF THIS AGREEMENT

13.1 If anyone or part of the terms of this agreement proves to be legally unsound or unenforceable in any way, this will not affect the validity of the remaining terms.

13.2 We believe the terms of this agreement are fair. If anyone or part of them proves to be not legally valid because it is unfair or for any other reason, we are entitled to treat that term as changed in a way that makes it fair and valid.

13.3 If one of the terms of this agreement is unenforceable against one of the customers signing this agreement, this will not in any way affect the enforceability of that term against the other signatories.

13.4 If we relax or waive any of the terms of this agreement once, this may be on a temporary basis or as a special case only. Such relaxation or waiver will not affect our right to enforce that term strictly at any other time.

14. COMMUNICATIONS BETWEEN US

Customer will receive an email or SMS in case where payments are made using the online services offered by ISAVE, which will be a conclusive evidence of the service used or transaction made by the Customer. In case of any discrepancy the Customer should immediately contact MCBIML – Help Line.

14.1 Except for situations where this agreement refers to your giving us notice by telephone, you should give us any other formal notice in connection with the Service in writing (in hard copy form)

14.2 Any complaints in connection with the Service should be submitted on the following link: https://www.mcbfunds.com/help-center/helpdesk/ or through by calling us on (+92-21) 1111 ISAVE (47283)

14.3 Electronic mail is not a completely reliable or secure method of communication and you must not use it for sending us:

14.3.1 notices in connection with the terms of this agreement; or

14.3.2 sensitive communications, such as payment instructions (payment instructions should be sent through the Service in accordance with the terms of the relevant account which you hold with us).

14.4 If we need to send you a notice, we will use the address you have given us most recently in connection with any of your Eligible Accounts.

15. SERVICE QUALITY: RECORDING YOUR CALLS AND INSTRUCTIONS

To protect both our customers and our staff, and to help resolve any disputes between you and us, you acknowledge that:

15.1 we will record all telephone conversations between us and customers of the Service; and

15.2 we will keep a record of all instructions given by customers via the Service; and

15.3 we may listen to telephone calls made in respect of the Service in order to assess and improve the quality of the Service.

16. OUR ADVERTISING

From time to time we may advertise our own products and services, and those of other companies in the MCB Investment Management Limited group or otherwise, through the Service. If, in connection with any other agreements with us, you have asked us not to send you any marketing material (or if you do so in the future), you agree that this restriction will not apply to these advertisements.

17. DISCLOSURE REQUIREMENTS

While MCB Investment Management Limited maintains strict confidentiality in all matters relating to your account(s) and business, you hereby further consent to MCB Investment Management Limited (and/or any of its officers/ employees) to disclose any information concerning you, your business, your accounts held with MCB Investment Management Limited or another Group Member, or your relationship with MCB Investment Management Limited or another Group Member to any of the following:

1. any office or branch of MCB Investment Management Limited, or any Group Member;
2. any agent, contractor or third party service provider, or any professional adviser to MCB Investment Management Limited or any Group Member;

• any of your guarantor or third party security provider;

1. any regulatory, supervisory, governmental or quasi-governmental authority with jurisdiction over MCB Investment Management Limited or any Group member;
2. any person to whom MCB Investment Management Limited or any Group Member is required or authorized by law or court order to make such disclosure;
3. any of MCB Investment Management Limited’s actual or potential participant or sub-participant in, assignee, novatee or transferee of, MCB Investment Management Limited’s rights and/or obligations in relation to you;

• any other person under a duty of confidentiality to MCB Investment Management Limited or Group Member;
• any bank or financial institution with which you have or propose to have dealings.

18. THE LAW GOVERNING THIS AGREEMENT

This agreement is governed by the laws of the Pakistan. Both parties agree to submit to the jurisdiction of the Courts in Pakistan in connection with any dispute. This does not affect our right to pursue our remedies in the courts of any other jurisdiction Pakistan which is considered appropriate by MCB Investment Management Limited.

19. DEFINITIONS: THE MEANING OF SOME WORDS AND PHRASES USED IN THIS AGREEMENT

Some words and expressions used in this agreement have particular meanings as follows:

Service means the MCB Investment Management Limited’s electronic/digital services available and provided by us on this site under the window of iSAVE – which enable you to obtain information from us and give instructions to us to carry out certain transactions/services pertaining to the Eligible Accounts through computer, telephone, mobile telephone, or other device linked to our system/site by any means (among other things).

Electronic/Digital services under the window of iSAVE means the remote services being offered by MCB Investment Management Limited which include services which enable you to obtain information from us and give instructions to us to carry out certain transactions/services pertaining to the Eligible Accounts through computer, mobile telephone or other device via Internet access.

Password means the Electronic Personal Identification chosen by you that is used to confirm your identity whenever you use the Service.

Statement means Account Statement, confirmation notice for Investment Services, or any of these or similar documentation, as applicable, depending on the service.

BUSINESS DAY means a day (other than Saturdays, Sundays and public holidays) on which MCB Investment Management Limited is operational for business in Pakistan.

CHANNEL means any channel through which the Customer issues Instructions to MCB Investment Management Limited including but not limited to iSAVE Web/APP portal or such other electronic facilities or channels as may be made available by MCB Investment Management Limited from time to time and Channels mean more than one Channel as the context shall require.

CUSTOMER means a person who is a customer of MCB Investment Management Limited and who maintains one or more of the Account(s) with MCB Investment Management Limited

INSTRUCTIONS means any instructions or directions given by the Customer to MCB Investment Management Limited through the Channel where the BILL PAYMENTS service is made available to make payments from the Account(s) maintained with MCB Investment Management Limited and to a specified account(s) maintained with a Participating Bank via the BILL PAYMENTS System

BILL PAYMENTS means a facility provided to the customer to make their utility payments online through digital banking.

1LINK BILL PAYMENTS SYSTEM means a bill payment system operated by 1Link that allows businesses to make and collect payments for their products and services.

PARTICIPATING BANK means any bank or financial institution which is a participant to the BILL PAYMENTS System, or any utility/mobile biller company which is participant to 1Link Bill Payment service.

We/us/our/MCB Investment Management Limited refer to MCB Funds, a company incorporated in Pakistan and whose registered office is situated in Pakistan at 2^nd Floor, Adamjee House, I.I. Chundrigar Road. Karachi. 74000. Pakistan.

You/your means you, the customer, who is registered by us to use the Service in accordance with this Agreement.

Your System means the equipment and software contained on such equipment used by you to access the Service in accordance with this Agreement.