The State Bank of Pakistan (SBP) has granted BankIslami Pakistan Limited its permission to conduct due diligence with respect to Emirates Global Islamic Bank (EGIBL) proposed acquisition/merger with BankIslami Pakistan. The Board of Directors of BankIslami Pakistan had decided to enter into a memorandum of understanding (MOU) with EGIBL in relation to a proposed acquisition/merger of the EGIBL with BankIslami in such a way that BankIslami remains the surviving entity.

Copyright Business Recorder, 2010