Lahore: In a significant move towards digital transformation, First National Bank Modaraba has resolved to distribute its annual audited financial statements via QR code and weblink, according to a resolution passed at the company's 21st Annual Review Meeting held on October 28, 2024, in Lahore. This decision aligns with the requirements of section 223(6) of the Companies Act, 2017, and the Securities Exchange Commission of Pakistan's directive issued on March 21, 2023.

The resolution was passed in compliance with clause 5.6.9(b) of the Pakistan Stock Exchange (PSX) Rulebook, marking a shift from traditional postal dispatch to digital dissemination. According to information available from the Pakistan Stock Exchange (PSX), the certificate holders conveyed their consent for this change, which is subject to the fulfillment of specific regulatory requirements.

The adoption of this technology aims to streamline the process and enhance accessibility for the certificate holders of First National Bank Modaraba, as postal distribution will be simultaneously discontinued. The resolution reflects a broader trend towards digitalization within the financial sector, driven by regulatory frameworks and technological advancements.