Bank Alfalah Limited (PSX: BAFL) announced on Thursday that its Board of Directors has approved the sale of its Bangladesh operations to Bank Asia Limited, based in Dhaka.
The transaction is subject to regulatory approvals from the State Bank of Pakistan, the Central Bank of Bangladesh, and other relevant authorities, along with the completion of legal and procedural requirements.
The bank has confirmed that a Memorandum of Understanding (MoU) or Term Sheet was executed on the evening of May 28, 2025.
Further details, including the final terms of the sale, will be disclosed following the execution of definitive agreements.
The Bank is engaged in banking services as described in the Banking Companies Ordinance, 1962.
