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BankIslami takes over KASB Bank

KARACHI: The federal government has approved the merger of KASB Bank Ltd with BankIslami Pakistan Ltd (BIPL), the State Bank said on Thursday.

The amalgamation also lifted a six-month moratorium imposed on the beleaguered bank in November 2014 as “the depositors of the former KASB Bank are now depositors of BankIslami and are free to operate their accounts maintained at the respective branches of the former KASB Bank as per their convenience”, the central bank said in a statement…… Read More