In
exercise of the powers conferred on it by clause (b) of
Sub-Section (2) of Section 37 of the State Bank of Pakistan
Act, 1956, State Bank of Pakistan is pleased to direct the
de-scheduling of the Bank of Ceylon with effect from the
close of business of March 24, 2004 on account of its merger
with Dawood Bank Limited vide SBP order dated 08-03-2004
passed under Section 48 of Banking Companies Ordinance,
1962. The Amalgamation scheme will become effective from
March 25, 2004