KARACHI PAKISTAN
The International Finance Corporation (IFC) signed an agreement with Bank Alfalah on Thursday to invest $67 million.
The agreement was signed at a ceremony in Abu Dhabi, attended by Sheikh Nahayan Bin Mubarak Al Nahayan and Bank Alfalah Chairman Sheikh Hamdan Bin Mubarak Al Nahayan, along with bank’s President and CEO, Atif Aslam Bajwa and others.
Under the agreement, the IFC will acquire a strategic equity stake in Bank Alfalah of up to 20 per cent, initially investing up to $67m to subscribe to 15pc equity stake. The transaction is expected to close after obtaining final regulatory approvals before the end of the year.
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