Bank Alfalah to windup operations in Afghanistan

In a latest notice addressed to the exchange, Bank Alfalah Limited (BAFL) informed that “the Board of Directors of the Bank Alfalah Limited (BAFL) had authorized the management to explore the possibility of selling BAFL’s off-shore business and assets in Afghanistan (“BAFL’s Afghanistan Ops”).

Furthermore, the company informed that the “BAFL has executed the business transfer agreement with Azizi Bank, Afghanistan to sell BAFL’s Afghanistan Ops, subject to all corporate/regulatory approvals and execution of all necessary agreements/documents.”