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Provider: Reuters Investment Profile
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Security Investment Bank Ltd To Wind Up Its Wholly Owned Subsidiary


Friday, 29 Mar 2013 12:16pm EDT 

Security Investment Bank Ltd announced that it has decided to wind up its wholly owned subsidiary, namely SIBL Exchange (Private) limited (SIBL Exchange) and to instruct the directors of SIBL Exchange to commence the process of voluntary winding up of SIBL Exchange in accordance with the provisions of the Companies Ordinance, 1984. the decision is based on the fact that the state bank of Pakistan (SBP) informed SIBL Exchange through its letter No. EPD/105/24(49)EC-2013 dated January 2013 that the license of SIBL Exchange stands expired with effect from October 1, 2012, for not meeting the minimum capital requirement for SIBL Exchange. 

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3.45
0.68 +24.55%
22 Jul 2014