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Govt assures IMF of placing 2 banks in ‘resolution’ by March 2023

Johndavid by Johndavid
September 8, 2022
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KARACHI: The government has promised the International Monetary Fund (IMF) that two banks would be placed into “resolution” by May 2023 if they did not finish the first phase of their recapitalisation plan by March of that year.

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If this occurs, these banks might be next to undergo a forced restructuring or perhaps be completely sold off, similar to what happened to KASB Bank in 2015.

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