TPL Corp Limited (PSX: TPL) and Abhi Private Limited have received final approval from the State Bank of Pakistan (SBP) for buying 94.8 percent stake in FINCA Microfinance Bank
“In continuation to our earlier announcements dated April 29, 2024, and September 20, 2024, the State Bank of Pakistan (SBP) has conveyed its final approval to TPL Corp Limited (TPL) and Abhi (Private) Limited (Abhi) for the acquisition of up to 94.8% shareholding in FINCA Microfinance Bank Limited (Acquisition), subject to compliance with applicable laws, rules, regulations and terms and conditions of the SBP,” the stock filing stated.
The Board of Directors of TPL Corp Limited (TPL), TPL, and Abhi (Private) Limited in September jointly entered into a Share Purchase Agreement along with other definitive agreements, with FINCA Microfinance Coöperatief U.A to jointly acquire FINCA Microfinance Bank Limited.
Classic story of corruption from the very top. Shame on SBP to facilitate the fraudsters. This is how you promote the Startups?