Faysal Bank Limited (PSX: FABL) has injected Rs. 200 million by way of Rights issue in its Subsidiary FICECL, the bank informed the main bourse today.
FABL explained that the capital injection is to ensure compliance with the regulatory capital requirement of FICECL.
FABL received approval from the Securities and Exchange Commission of Pakistan (SECP) in January 2024 to set up a currency exchange company as a subsidiary.
The exchange specializes in forex trade with a focus on competitive rates and easy transactions.
The Bank is mainly engaged in Conventional and Islamic Corporate, Commercial and Consumer banking activities.
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