Karachi September 15 2023: Meezan Bank is aiming to establish a wholly owned foreign exchange company with an investment of PKR 1 billion, according to bank filing to the exchange.
“The Board of Directors of Meezan Bank Limited (MEBL) has approved the establishment of an Exchange Company with initial paid-up-capital upto PKR 1.0 billion, subject to approval/clearance by the State Bank of Pakistan and completion of other regulatory compliance requirements. This Exchange Company would be a 100% owned subsidiary of the Bank” according to the notification issued by the Bank at Pakistan Stock Exchange.
