SECP warns public against ‘Trust Investment Bank Limited’

MG News | January 27, 2022 at 03:38 PM GMT+05:00

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January 27, 2022: The Securities and Exchange Commission of Pakistan (SECP) has canceled the license of Trust Investment Bank Limited (TIBL) effective from November 1, 2018, due to its continuous violations of the NBFC Regulatory Framework, a press release showed today.

The Commission has also filed a winding-up petition in the Honorable Lahore High Court in January 2019.

Pursuant to cancellation of license and filing of winding up petition, TIBL is not authorized to undertake any form of licensed business as a Non-Banking Finance Company under NBFC Regulatory Framework.

The general public, in their best interest, is advised to be cautious and not to engage in any business relationship with TIBL as an NBFC.

Moreover, if anyone acting directly or on behalf of TIBL solicits for provision of any NBFC business activity; it is advised that the matter should be immediately brought into the commission’s notice, the statement added.

Press Release

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