Sindh Bank to be set-up

The Federal Government has given the Sindh Government permission to set up Sindh Bank.

PAKISTAN: The Federal Government on Wednesday gave the Sindh Government permission to set up Sindh Bank.

The Federal Finance Ministry and the State Bank of Pakistan also issued a no-objection-certificate to the Sindh government for this purpose.

Speaking to Express 24/7, State Bank spokesperson Syed Waseem Ahmad confirmed that the NOC had been issued. However, he added that the Sindh government would have to fulfill regulatory requirements to the get a licence for the bank.

He also added that the Sindh Bank will be registered as a company in the Security Exchange Commission of Pakistan.

Branches of Sindh Bank will be established across the country , with its main purpose being  to promote agricultural development and small scale businesses.