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MNET Services Private Limited was a Pakistani operator of inter-bank connectivity platform of
MNET Services Private Limited was a Pakistani operator of inter-bank connectivity platform of MCB Bank
MCB Bank Limited () is a Pakistani multinational commercial bank which is based in Lahore, Punjab, Pakistan. The majority of shares are owned by Pakistani conglomerate Nishat Group and Malaysian bank Maybank. The bank has a network of 1,600 bran ...
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.
History
Incorporated in 2001, MNET was the first company in Pakistan to provide a secure electronic inter-bank connectivity platform for online financial transactions. In 2002, SBP circular for the mandatory connectivity of either of the two switches ( 1LINK or MNET). In 2004, SBP instructed 1LINK and MNET to interconnect with each other. The company is now being closed as MCB has now become a member bank of 1LINK.MNET services amalgamation with and into MCB Bank
MNET Services (Private) Limited amalgamated with and intoMCB Bank
MCB Bank Limited () is a Pakistani multinational commercial bank which is based in Lahore, Punjab, Pakistan. The majority of shares are owned by Pakistani conglomerate Nishat Group and Malaysian bank Maybank. The bank has a network of 1,600 bran ...
, the effective date of amalgamation is April 30, 2019.
References