N
O T I F I C A T I O N
In
pursuance to amalgamation of Rupali Bank Limited Pakistan
operations with and into Arif Habib Rupali Bank Limited,
in terms of the Scheme of amalgamation sanctioned on July
07, 2006, under section 48 of Banking Companies Ordinance,
1962, State Bank of Pakistan in exercise of powers conferred
on it by Section, 27 (4) (i) of Banking Companies Ordinance,
1962, has cancelled the banking license of Rupali Bank Limited
Pakistan operations. Further, 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 Rupali
Bank Limited Pakistan operations with effect from the close
of business on 4th August, 2006. The scheme of amalgamation
will become effective from 5th August, 2006.