August 23, 2024 (MLN): The Competition Commission of Pakistan (CCP) has granted approval to Al Falah Asset Management to acquire the funds of Faisal Asset Management.

The approval was granted following the agreement on the transfer of management between the two companies.

Under the agreement, Al Falah will acquire management rights for some of Faisal Asset Management's funds. 

The acquisition of certain funds from Faisal Asset Management will not result in Al Falah Asset Management gaining a monopoly in the market, CCP affirmed.

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Posted on: 2024-08-23T17:52:22+05:00