NOTIFICATION

In exercise of the power conferred by section 44 of  the Industrial Development Bank of Pakistan Ordinance 1961(XXXI of 1961) read with section 5 of the Industrial Development Bank of Pakistan (Reorganization and Conversion) Act 2011(XII of 2011), the Federal Government has issued Vesting Order S.R.O (1) of /2012 dated November13, 2012. Consequent upon the issuance of the Vesting Order all the assets, contracts, liabilities, proceedings, undertakings of the Industrial Development Bank of Pakistan( IDBP) stand transferred to and vest in the  Industrial Development Bank Limited (IDBL) with effect from November 13, 2012.

Accordingly in exercise of the power conferred upon SBP by section 37 of SBP Act 1956 the name of the IDBP has been replaced with IDBL in the list of scheduled banks with effect from November 13, 2012 for all the intent purpose.