KARACHI: The Board of Directors of the Bank of Punjab has approved the establishment of an Exchange Company with an authorized share capital of Rs 2.5 billion subject to approval/ clearance by the State Bank of Pakistan and completion of other regulatory compliance requirements.

The Exchange Company would be wholly owned subsidiary of BOP and will operate as an Exchange Company within the framework prescribed by the State Bank of Pakistan, material information sent to Pakistan Stock Exchange on Monday said.

Copyright Business Recorder, 2023