Bank of Punjab moves closer to Bahrain expansion with SBP approval

MG News | August 06, 2026 at 11:25 AM GMT+05:00

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August 06, 2026 (MLN): The Bank of Punjab (BOP) has received in-principle approval from the State Bank of Pakistan (SBP) for the establishment of an Overseas Wholesale Banking Unit in the Kingdom of Bahrain, subject to obtaining all requisite approvals from the relevant regulatory authorities in Pakistan and Bahrain, and compliance with the applicable laws, rules, regulations, and conditions stipulated by the SBP.

The approval was granted vide the SBP's letter dated 05 August 2026, further to the bank's earlier disclosure on the captioned subject dated 04 July 2024.

The proposed Overseas Wholesale Banking Unit in Bahrain will commence operations only after obtaining all requisite regulatory approvals, including the necessary No Objection Certificate (NOC) from the Central Bank of Bahrain and the issuance of the requisite banking license by the SBP.

The aforementioned information was disseminated through a notification to Exchange.

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