Bank Alfalah Agrees to Potential Sale of Afghanistan Operations

Bank Alfalah Limited’s board of directors has accepted a non-binding offer from Afghanistan’s Ghazanfar Bank to acquire Bank Alfalah’s Afghanistan operations, the bank disclosed to the Pakistan Stock Exchange on Wednesday. The proposed transaction is subject to satisfactory due diligence by Ghazanfar Bank, the execution of definitive agreements, compliance with all applicable laws, and the receipt of necessary regulatory approvals. Bank Alfalah said it will now seek approvals from the State Bank of Pakistan and Da Afghanistan Bank to allow Ghazanfar Bank to begin due diligence on its Afghanistan business. The move marks a significant step in Bank Alfalah’s strategy to streamline its international operations. The company said it will keep stakeholders informed as the process advances and as further regulatory milestones are reached.