BAHL gets approval to close down Seychelles branch

By MG News | September 14, 2021 at 03:59 PM GMT+05:00

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September 14, 2021 (MLN): Bank AL Habib (BAHL) Limited has announced that the bank has received State Bank of Pakistan (SBP's) in-principle approval for closure of Bank AL Habib Limited (the Bank) Seychelles Branch Operations.

The bank has also received approval from the Central Bank of Seychelles (CBS) for the voluntary winding up of the aforementioned branch operations, as per the notice issued to Pakistan Stock Exchange (PSX).

This decision is in line with the bank's strategy, and it will not have any material impact on the overall operating and financial position of the Bank.

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