Karachi: The Pakistan Stock Exchange has announced an extension of the trading suspension for M/s. First National Bank Modaraba, citing unresolved compliance issues. The decision, effective from November 8, 2025, follows a previous notice, PSX/N-968 dated September 8, 2025, regarding the trading halt.
The Modaraba’s certificates remain suspended as the entity has not addressed the causes for the suspension, which include the halting of its principal business operations and a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP). The suspension will continue until these issues are resolved or for an additional 60 days.
According to information available from the Pakistan Stock Exchange (PSX), the suspension is a result of non-compliance with specific clauses of the PSX Regulations, particularly Clause 5.11.1.(a) and 5.11.2.(b). These clauses pertain to the cessation of commercial production or business operations and the legal proceedings initiated against the Modaraba.
The decision to maintain the suspension is supported by the powers granted under Sub-Section (7) of Section 19 of the Securities Act, 2015, and is in accordance with the provisions specified in clause 5.11 of the PSX Regulations. The market remains attentive to further developments in this case, which falls under the designated market category of financial services.