Islamabad: A board member of SME Leasing Limited has tendered their resignation in the wake of the liquidation proceedings concerning its parent company, SME Bank Limited. The resignation is effective immediately, following the recent developments surrounding the bank's dissolution.

The Islamabad High Court granted approval for the State Bank of Pakistan to proceed with the liquidation of SME Bank Limited, a decision that has been in effect since May 10, 2025. The State Bank of Pakistan has been appointed as the liquidator. According to a letter dated May 9, 2025, from the State Bank, Mr. Adnan Imran has been appointed as the liquidator for SME Bank Limited and assumed charge at the close of business on May 9, 2025.

The outgoing board member of SME Leasing Limited, whose identity was not disclosed in the available documents, submitted their resignation citing the liquidation of SME Bank as the primary reason. The individual expressed appreciation for the cooperation extended by colleagues and guidance provided by the chairman during their tenure on the board.

The resignation was formally communicated to the Securities and Exchange Commission of Pakistan (SECP) in compliance with regulatory instructions. Copies of the resignation have also been sent to the Chairman of the Board of Directors of SME Leasing Limited, the Chairman of the SECP, and the liquidator of SME Bank.

The resignation comes amid significant structural changes within SME Bank Limited, a development closely monitored by market participants. According to information available from the Pakistan Stock Exchange (PSX), SME Leasing Limited operates within the designated market category.

The developments reflect ongoing adjustments within the financial sector following the court's decision to liquidate the bank. The impact of these changes on SME Leasing Limited and its operations remains to be seen as further actions are expected from the involved regulatory bodies and stakeholders.