Karachi: Apna Microfinance Bank Limited has announced the fixation of its board of directors at seven members for the forthcoming election scheduled for June 18, 2025. This decision was made through a circulation resolution dated May 13, 2025, under Section 159(1) of the Companies Act, 2017, with the unanimous approval of all current directors.

The move aligns with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange (PSX) Regulations. The bank has stated that the final approval for this decision is pending from the State Bank of Pakistan and the Securities & Exchange Commission of Pakistan. The announcement for the general meeting, during which the new board will be elected, is expected to follow in due course.

According to information available from the Pakistan Stock Exchange (PSX), the current board members set to retire include Mr. Muhammad Akram Shahid, Mr. Imad Mohammad Tahir, Mr. Muhammad Saleem Shaikh, Mr. Mohammad Asghar, Mr. Shahid Hassan, Mr. Abdul AA". Khan, Mr. Jamil Ahmed Khan, and Ms. Sultana Naheed.

TRE Certificate Holders of the Exchange have been informed of this development, as required by the designated market category protocols. The new board members will play a pivotal role in shaping the strategic direction of Apna Microfinance Bank Limited, contingent on the approvals from regulatory authorities.