BankIslami Modaraba Investment is no longer a subsidiary company of BIPL

By MG News | May 24, 2021 at 12:13 PM GMT+05:00

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May 24, 2021 (MLN): BankIslami Pakistan Limited (BIPL), in an announcement to Exchange, said that BankIslami Modaraba Investments Limited (BMIL) is no longer a subsidiary company of BIPL.

According to the notice, the sale of 8 million shares of BMIL (representing 100% of the issued and paid-up ordinary share capital of BMIL) to Mr Atique Ahmed Khan, sponsor of the Ghani Global Group or to any nominee, now stands complete in accordance with necessary approvals, including approval granted by the Securities and Exchange Commission of Pakistan (the SECP) vide its letter dated February 15, 2021.

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