28th January 2021: Fauji Foundation has reportedly expressed an interest in acquiring the Silk Bank. According to details, Fauji Foundation has submitted a material interest in acquiring the majority stakes of the bank.
As part of the process, Silk Bank has been requested to allow FF to conduct due diligence and for this purpose intends to apply to the State Bank of Pakistan for approval.
Silkbank has notified the Pakistan Stock Exchange that the Board of Directors of Silkbank Limited in its meeting held on 28th January 2021, has subject to the approval of the State Bank of Pakistan, given its in-principle approval to allow Fauji Foundation to conduct the required due diligence and evaluate the information that will be provided by Silkbank in this regard.
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