SBP approves to set up Arif Habib Rupali Bank

In a recent bid to give growth to the banking sector, State Bank of Pakistan (SBP) has given approval to establish Arif Habib Rupali Bank Limited.
The approval for commencement of banking business will come into effect from Saturday, August 05, 2006 and Arif Habib Rupali Bank Limited has been declared as a schedule bank from the same date, said a press release issued here on Friday.
As a consequence, the Pakistan operation of Rupali Bank Limited has been merged into Arif Habib Rupali Bank Limited.-PR