Accused CFO alongwith his accomplice, Muhammad Boota, in connivance with each other proposed to invest 200 Million in TIBL despite the later's weak liquidity position, and a blanket approval of Rs 215 Million was made to invest in KASB
It said that using its authority and powers, SBP decided to amalgamate KASB
Bank into Bank Islami in 2015 after a moratorium was imposed by the federal government on its request to safeguard the interests of depositors and to ensure safety and soundness of the banking system of the country.
Bank amalgamation that took place over two years ago could be probed by Pakistan's National Accountability Bureau (NAB).
We eye a ~2% QoQ jump in gross margins (cash-basis) in 2QFY16 across KASB
cement universe due to energy efficiency.
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.
The Pakistani central bank has announced its decision of putting KASB
Bank under a six-month moratorium in last month.
Visiting Faculty member at Federal Urdu University Karachi and he is PhD scholar at KASB
Institute of Technology Karachi.
27 October 2011 - The Pakistan Credit Rating Agency (PACRA) yesterday revised the A- rating on the long-term bank facilities of Pakistan-based KASB
Bank Ltd (KAR:KASBB) to BBB and its A2 rating on the bank's short-term debt to A3.
The restructuring plan also includes investment of up to $80 million at the KASB
finance level, which would complete in multiple phases.
It is] a structural benchmark required by the IMF," said Farah Marwat, analyst at KASB
Trident President, Michael Arledge, stated, "We are proud to be aligned with a partner like KASB
that shares our commitment to quality and integrity.
An earlier inquiry concluded that senior officials of the central bank 'misused their authority' in amalgamating KASB
Bank into BankIslami for just PKR1,000.