Burj Bank Merged in Al-Baraka Bank Pakistan Limited
As per Circular issued by State Bank of Pakistan (SBP) Vide Notification No. ERD/M&PRD/PR/01/2016
-107 Dated TheOctober 31, 2016, two banks of Pakistan has decided to do the bussiness together in name of “Al-Baraka “. Detail of SBP Notification is as under:-
Amalgamation of Burj Bank with Al Baraka (Pakistan) Limited takes effect
State Bank of Pakistan sanctioned the scheme of amalgamation of Burj Bank Limited with and
into Al Baraka Bank (Pakistan) Limited under Section 48 of the Banking Companies Ordinance, 1962.
The scheme of amalgamation would become effective from close of business today i.e. October 31, 2016. Accordingly, all the branches of Burj Bank shall continue their normal course of business/ operation under the name of Al Barka Bank (Pakistan) Limited.
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