Burj Bank Merged in Al-Baraka Bank Pakistan Limited

Burj Bank Merged in Al-Baraka Bank Pakistan Limited

As per Circular issued by State Bank of Pakistan (SBP) Vide Notification No. ERD/M&PRD/PR/01/2016

-107 Dated TheOctober 31, 2016, two banks of Pakistan has decided to do the bussiness together in name of “Al-Baraka “. Detail of SBP Notification is as under:-

Amalgamation of Burj Bank with Al Baraka (Pakistan) Limited takes effect
State Bank of Pakistan sanctioned the scheme of amalgamation of Burj Bank Limited with and
into Al Baraka Bank  (Pakistan)  Limited under Section 48 of the Banking Companies Ordinance, 1962.
The  scheme  of  amalgamation  would  become  effective  from  close  of  business  today  i.e.  October 31, 2016.  Accordingly,  all  the  branches  of  Burj  Bank  shall  continue  their  normal  course  of  business/ operation under the name of Al Barka Bank (Pakistan) Limited.

al-baraka-bank-and-burj-bank-merger-2016

al-baraka-bank-and-burj-bank-merger-2016

Leave a Reply