Bank of Punjab's board approves Bahrain, UAE expansion

MG News | July 04, 2024 at 10:30 AM GMT+05:00

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July 04, 2024 (MLN): The Board of Directors of the Bank of Punjab (BOP) has approved the business plan to establish a Wholesale Banking Unit in the Kingdom of Bahrain and a representative office in United Arab Emirates, subject to approval from State Bank of Pakistan (SBP) and other regulators.

The agenda was approved by the board in their meeting held on July 1, 2024, and was communicated by the management today through a notice issued to the Pakistan Stock Exchange (PSX).

Following approval from the SBP, the Bank will approach other regulatory authorities to establish a Wholesale Banking Branch in Bahrain and a representative office in UAE.

"Further progress in this regard will be shared in due course of time," the bank added.

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