ISLAMABAD: The State Bank of Pakistan (SBP) on Thursday during a meeting of Senate Standing Committee on Finance and Revenue, informed that it does not have any objections over the proposed merger of Sindh Bank and Summit Bank if the Sindh’s provincial cabinet approves the deal.
During the proceedings of the committee, Sindh Bank’s Bilal Sheikh and Summit Bank’s Hussain Lawai told the committee that they had missed the deadline of December 2017 for finalising the deal because the Sindh Cabinet did not approve it within the stipulated time frame.
“Now this deal will be finalised once we receive approval of the provincial cabinet,” SBP Deputy Governor Jammel Ahmad informed the committee adding that there would be no deadline but both the parties would have to comply with required pre-requisites for moving ahead with the merger.
Is this information correct? Bcz SBP has not yet posted any update regarding this NOC at its website.
This seems A fake news