Karachi: Allied Bank Limited has formally issued notices for the upcoming election of its directors, scheduled to take place on August 27, 2024, at the Pearl Continental Hotel in Lahore. This announcement, as required by section 159(4) of the Companies Act, 2017, was publicized in both English and Urdu in the Daily Business Recorder and Nawa-i-Waqt on Tuesday, August 20, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the candidates listed for election include Mr. Mohammad Naeem Mukhtar, Mr. Sheikh Mukhtar Ahmad, Mr. Muhammad Waseem Mukhtar, Mr. Zafar Iqbal, Ms. Nazrat Bashir (Female Independent Director), Mr. Muhammad Kamran Shehzad (Independent Director), and Mr. Mian Ikram ul Haq (Independent Director). Their profiles are accessible on the bank's website, illustrating their diverse experience and qualifications relevant to the roles they are nominated for.

The candidates meet the eligibility requirements set by Section 166 of the Companies Act and the regulations of the State Bank of Pakistan. Given the number of candidates does not exceed the number of directorships available, these individuals are poised to be elected unopposed, pending final approval from the State Bank of Pakistan.