Welfare Schemes

Welfare Scheme Overview


The welfares and rehabilitation of bank's ex-employees, their widows and dependant children is being carried out through following welfare schemes:

Maintenance Allowance:

Widows receives Rs.5,000/- per month for a maximum period of TEN years.
The widows who have married after the death of the husband will not be allowed the allowance.

Scholarship:

(A) For Secondary & Higher Secondary classes Actual tuition fee expenses of school/college going children of ex-employees is reimbursed on 12 month basis. School going children will get Rs.2000/- (maximum) and College going children will get Rs.3000/- (maximum) subject to provision of actual receipts issued by the institution. Maximum of three (3) children of an ex-employee are entitled for scholarship.
(B) For Graduation and Post Graduation Children of ex-employees receive Rs.100,000/- per annum (maximum) for pursuing graduate and post-graduate academic programs in field of medicine, engineering, management sciences, computer sciences and accounting.

Outright Marriage Grant:

Ex-employee/Widows receive outright marriage grant of Rs.30,000/- for marriage of daughters.
Maximum of three (3) children of an ex-employee are entitled for marriage grant.

Subsistence Allowance:

Ex-clerical and non-clerical staff on attaining the age of 70 years and retired on Superannuation receive subsistence allowance of Rs.5,000/- per month LIFETIME.

Funeral Expenses:

On death of dependant family member, ex-employees receive Rs. 20,000/- in consideration of funeral expenses.

MCBEF Earthquake Relief Fund

MCBEF had extended relief to the affectees of the earthquake which hit the Northern Areas of Pakistan and Azad Jammu and Kashmir on Saturday the 8th October 2005 from a fund i.e. "MCBEF RELIEF FUND" exclusively established for the welfare of MCB's ex-employees who had badly affected by the said earthquake and had expend Rs. 3.39 million against the above fund on first come first serve basis up to 31-03-2006.

In total 79 afectees had been benefited out of above fund.

MCBEF Flood Relief Fund ( RAIN)

MCBEF has extended its relief to the affectees of heavy rain which hit the Makran and Sukkar region.

Covering Area (1) Shahdad Kot (2) Kambar Ali Khan (3) Lalu Rawank (4) Khairpur Nathan Shah etc during the year 2007. A fund namely "MCBEF Relief Fund Rain" exclusively established for the Welfare of MCB's ex-employees who had badly effected by said rain and have allocated Rs.60,000 again. The above fund is available on first come first serve basis upto 30th December 2007. In total six (6) affectees had benefited out of the fund. earthquake which hit the Northern Areas of Pakistan and Azad Jammu and Kashmir on Saturday the 8th October 2005 from a fund i.e. "MCBEF RELIEF FUND" exclusively established for the welfare of MCB's ex-employees who had badly affected by the said earthquake and had expend Rs. 3.39 million against the above fund on first come first serve basis up to 31-03-2006.

In total 79 affectees had been benefited out of above fund.

MCBEF Relief Fund For The Affects of Earthquake In Quetta And Ziarat

MCBEF had extended relief to the affects of the earthquake which hit the Quetta/Ziarat, Distt. of Balochistan on Wednesday the October 29, 2008 from a fund i.e "MCBEF Relief Fund" exclusively for the welfare of MCB Ex-employees who had badly affected by the said earthquake and had extand Rs. 12000/- in total Four affectees had been benefited out of above fund.