CB extends suspension of Pan Asia Bank primary dealer activities by 6 months

Aug 15, 2018 (LBO) – Monetary Board has decided to extend the suspension of business and activities of a Primary Dealer of Pan Asia Banking Corporation for a period of six months with effect from today, in order to continue the investigations being conducted by the Central Bank. The Central Bank wishes to emphasize that this regulatory action restricts PABC’s access to the primary auctions for government securities.
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It does not affect any of the other activities/services of PABC. Monetary Board has taken this decision acting in terms of the regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance.