Supreme Court wants to oversee Sindh Bank, Summit Bank merger process
The top court also directed both banks to submit a detailed report on the proposed merger
The Supreme Court of Pakistan PHOTO: EXPRESS
KARACHI:
The Supreme Court (SC) on Saturday said that the proposed merger of Sindh Bank and Summit Bank will not take place without its permission.
A three-member bench, headed by Chief Justice of Pakistan Mian Saqib Nisar, ordered that the proposed amalgamation would be supervised by the SC.
SHC orders SBP to reconsider valuation of KASB Bank
A report submitted by the State Bank of Pakistan (SBP) said that both the banks had agreed to start the process of the merger afresh.
SBP backs promotions at NBP, negates claims of favouritism
The Supreme Court warned that if the process was not carried out according to rules and regulations, the merger would not be allowed.
The top court also directed both banks to submit a detailed report on the proposed merger.
Foreign exchange: SBP's reserves fall 3% to stand at $11.2b
The amalgamation plan of Sindh Bank with Summit Bank faced a setback after SC’s suo motu intervention over alleged irregularities.
Published in The Express Tribune, May 13th, 2018.
The Supreme Court (SC) on Saturday said that the proposed merger of Sindh Bank and Summit Bank will not take place without its permission.
A three-member bench, headed by Chief Justice of Pakistan Mian Saqib Nisar, ordered that the proposed amalgamation would be supervised by the SC.
SHC orders SBP to reconsider valuation of KASB Bank
A report submitted by the State Bank of Pakistan (SBP) said that both the banks had agreed to start the process of the merger afresh.
SBP backs promotions at NBP, negates claims of favouritism
The Supreme Court warned that if the process was not carried out according to rules and regulations, the merger would not be allowed.
The top court also directed both banks to submit a detailed report on the proposed merger.
Foreign exchange: SBP's reserves fall 3% to stand at $11.2b
The amalgamation plan of Sindh Bank with Summit Bank faced a setback after SC’s suo motu intervention over alleged irregularities.
Published in The Express Tribune, May 13th, 2018.