February 28, 2020 (MLN): The board of directors of BankIslami Pakistan Limited, in a meeting, held on 27th February 2020, has approved the sale of 8,000,000 shares of Banklslami Modaraba Investments Limited (“MO (representing 100% of the issued and paid-up ordinary share capital of BMIL) to BRR Investment (Private) Limited directly or through any of its affiliates (the “Proposed Transaction').

 The above resolution shall be subjected to (i) procurement of all applicable shareholders' and regulatory approvals; and (ii) finalization of the transaction documentation.

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