Silk Bank Limited has been sold

Silk Bank Limited has been sold

KARACHI: Fauji Foundation has been given the plow ahead by Silk Bank restricted to accumulate a majority stake within the bank. Monetary terms, however, haven’t been disclosed.


Silk Bank allowed Fauji Foundation to conduct due diligence of the bank and also the company intends to use to the depository financial institution of Pakistan for the requisite approval, the bank aforementioned in a very filing with the Pakistan exchange on weekday.


The board of administrators of the bank gave Associate in Nursing in-principle approval for the Fauji Foundation to guage info that may be provided by the bank, in step with the notice

administrator

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