BAFL completes sale of Afghanistan operations to Ghazanfar Bank

November 06, 2026 (MLN): Bank Alfalah Limited (PSX: BAFL) has completed the sale and transfer of its Afghanistan business operations to Ghazanfar Bank, Afghanistan, with the deal closing on November 5, 2026.

The bank said the transaction was finalized after the definitive transaction documents were executed, the State Bank of Pakistan and Da Afghanistan Bank gave their approvals, and the remaining conditions precedent were met.

Following completion, the banking business run by Bank Alfalah at its Kabul and Herat branches, along with the related assets and liabilities, has moved to Ghazanfar Bank.

Bank Alfalah has therefore stopped banking operations in Afghanistan and will wind up its branches there in line with applicable regulatory requirements, according to the company’s statement on PSX revealed today.

The deal follows earlier disclosures to the exchange.

On December 4, 2025, the bank had reported receiving a non-binding offer from Ghazanfar Bank for its Afghanistan operations.

On January 7, 2026, it said the State Bank of Pakistan and the Central Bank of Afghanistan had given in-principle approval for Ghazanfar Bank to start due diligence, and that it would allow the prospective buyer to examine its Afghanistan business.

At that stage, the proposed transaction was subject to satisfactory due diligence, execution of definitive agreements, compliance with applicable laws, and all required regulatory and legal approvals in Pakistan and Afghanistan.

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