According to an official press release issued here on Friday, the Federal Government, on the application of the SBP and in exercise of the powers conferred upon it under the Section 47 of the Banking Companies Ordinance, 1962, has placed KASB
Bank Ltd under moratorium for a period of six months with effect from close of business as of November 14, 2014.
The Volume Leader of the day included The Bank of Punjab Limited with 480,000 shares, KASB
Bank Limited (Platinum) with 283,000 shares and Fauji Cement Company Limited with 155,000 shares.
The Islamic Republic of Pakistan and OGDCL will be subject to a lockup period of 180 days, subject to waiver by BofAML, Citi and KASB
GEM has also agreed to subscribe to the current common equity offering of KASB
Corporation as a symbol to solidify the relationship and participate in the long term growth opportunities in Pakistan.
Lehri smashed four boundaries and brace of sixes in his 52-ball knock of 72 and Talib Ali hit an unbeaten 37 off 26 balls with three hits to the boundary as KASB
reached the target in the final over.
It is further clarified subsequent to takeover of the defunct KASB
Bank, BankIslami has only started compliance of various instructions of the State Bank of Pakistan issued to defunct KASB
Bank, which, interalia, includes certain corporate governance, know your customer (KYC) and management issues which requires involvement of investigation agencies.
Responding to Adjournment Motion, Jam Kamal said the interests of account holders of defunct KASB
bank had been protected and no employee of the bank would be retrenched.
Global Banking News-January 20, 2015--BankIslami gets approval to study KASB
Bank Islami Pakistan, the country's number two Islamic bank, received regulatory approval from the Central Bank, the State Bank of Pakistan, to conduct due diligence on KASB
Bank with a view to possible acquisition and merger 'subject to the condition that the bank's assets shall be converted to Islamic modes of financing'.
In a bid to start due diligence for the potential acquisition of the struggling lender KASB
Bank, Askari Bank Limited has requested the State Bank of Pakistan (SBP) for its authorization.
Bank of America Merrill Lynch, Citigroup, and Pakistani broker KASB
Securities are handling the share sale.
Standard Chartered and KASB
Securities Ltd, the local affiliate of Bank of America Corp, predict the rally will fade.