Karachi: Samba Bank Limited has officially announced the book closure for its Term Finance Certificates (TFC), marking the eighth principal repayment and profit payment due on March 1, 2025. The bank has taken significant steps to ensure that all transactions are processed smoothly and efficiently.
The transfer books of the TFCs will be closed from February 21, 2025, to February 27, 2025, both days inclusive. This period is crucial as transfers received at the office of the Bank's Registrar, M/s FAMCO Share Registration Services (Pvt.) Limited, located at 8-F, Near Hotel Faran, Block 6, P.E.C.H.S., Karachi, by the close of business on February 20, 2025, will be considered timely for the purpose of profit payment to the transferees.
According to the notice published in Business Recorder and Daily Dunya on Friday, January 31, 2025, TFC holders have been informed of the upcoming financial transactions. The designated market category for this transaction is Tier II, emphasizing its significance in the financial sector.
For the eighth principal repayment and profit payment of the Tier II TFC, only those holders whose names appear in the Register of TFC holders as of February 20, 2025, will be eligible for the respective payments. The register closure ensures that all eligible transactions are completed without any discrepancies.
According to information available from Pakistan Stock Exchange (PSX), as per the sub-clause (i) of Clause 5C.8. of Chapter 5C of Pakistan Stock Exchange's Rule Book, updated as of December 18, 2024, Samba Bank Limited is mandated to make all repayments and profit payments directly. This is facilitated through direct credit into the respective IBANs of the SBL TFC holders, ensuring a seamless transaction process.
This strategic move by Samba Bank Limited not only underscores its commitment to upholding financial regulations but also reflects its dedication to maintaining transparency and efficiency in its financial operations. As the date approaches, stakeholders are advised to ensure their details are accurately registered to avoid any potential delays in receiving their due payments.