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Muslim Commercial Bank Limited was incorporated by the Adamjee Group on July 9, 1947 under the Indian Companies Act, VII of 1913 as a Limited Company. The bank was established with a view to provide banking facilities to the business community of the sub-continent. The bank was nationalized in 1974 during the government of Zulfiqar Ali Bhutto. This was the first bank to privatized in 1991 and the bank was purchased by a consortium of distinguished Pakistani corporate groups, led by Nishat Group. Currently the Nishat Group owns a majority stake in the bank. The president of the bank is Mr. Atif Bajwa (previously with Citibank) and the Chairman is Mian Mohammad Mansha.