Karachi: Apna Microfinance Bank Limited has announced an uncontested election of directors, following procedures outlined in the Companies Act, 2017. The election will occur during the extraordinary general meeting scheduled for June 18, 2025, in Karachi, as per official communications.

The bank, in a notice under Section 159(4) of the Companies Act, 2017, has informed members and the relevant stakeholders about the election. This notice will appear in the Daily Times and Daily Nai Baat Karachi on June 11, 2025. The designated market category for this communication, as per Clause 5.6.9 (b) of the Pakistan Stock Exchange Rule Book, has been adhered to, ensuring compliance with regulatory requirements.

The list of individuals who have submitted their intention to contest includes Mr. Muhammad Akram Shahid, Mr. Imad Mohammad Tahir, Mr. Mohammad Asghar, Mr. Shahid Hassan, Mr. Abdul Aziz Khan, Ms. Sultana Naheed, and Mr. Nazish Ali. These candidates have been deemed elected directors without opposition, as the number of nominees matches the number of positions available. Consequently, no balloting will take place at the meeting, in accordance with Section 159(5) and Article 64 of the Memorandum and Articles of Association.

According to information available from the Pakistan Stock Exchange (PSX), the procedural compliance ensures that the TRE Certificate Holders of the Exchange are adequately informed of the developments within the bank's governance structure. The election process, while uncontested, is a significant event for the bank as it sets the stage for the board's composition and future strategic decisions.