Meezan Bank Limited deactivated the account of an online community for mothers, The Mummy Club, claiming it isn’t ‘Shariah-compliant’.
Stylist and influencer Manahyl Khan Shafi started The Mummy Club in 2018 with the aim of helping mothers without any influence of race, culture, or religion.
The club currently has 9000 members and actively works offline.
Talking to SAMAA Money, Shafi said the bank account was active and running, the money was deposited, the ATM card and cheque-book were also issued and she had even informed her vendors, also members of TMC community, to deposit payments in that account–only to find that it had been closed.
They decide to cancel our account based on the word “club”, she said. “They didn’t give me anything in writing that states why our club is not Shariah-compliant.”
Shafi also mentioned that she had opened a business account for the Store TMC, which is owned by The Mummy Club and sells clothing and shoes for babies, children, and women.
The bank had opened the account in the name of the Store TMC but later required the owner to write the name out in full because abbreviations such as TMC were not acceptable.
But when she gave the full name, with the word ‘club’ in it, the bank had a problem.
The bank’s communications head Sohail Khan told SAMAA Money, however, that they did not close the account, nor mention Shariah compliance in its correspondence with the customer.
“Since they are a club, it needs to be backed by some kind of documentation,” he said. “It’s not a Shariah compliance issue.”
He referred to the State Bank of Pakistan’s Know Your Customer requirements with which all commercial banks have to comply. These requirements are for background checks, verification of a customer’s business.
Khan added that the account is active and operational and they are looking into the customer’s complaint. It would update SAMAA Money after checking with the branch if there had been some miscommunication.