‘Kasb Bank’s merger with Bank Islami is a viable solution’
The State Bank of Pakistan feels that under the current circumstances, merger of KASB Bank with Bank Islami is a viable option wherein the bank’s depositors’ interest would be safeguarded and its problem would be resolved on a sustainable basis. Although there is a possibility of foreign investment worth $100 million from a Chinese investor yet the State Bank is concerned of the safety of depositors’ money and prompt payments to them. At the same time SBP does not want to fall in any conflict with the shareholders. Considering the fact that Chinese investor company called Cybernaut was not able to establish its bonafide even after elapse of considerable time their request was declined on 27th April 2015.
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