Karachi: Bank Islami Limited convened its 22nd Annual General Meeting on March 27, 2026, to address key financial and administrative resolutions. The meeting, held in Karachi, resulted in the adoption of essential financial statements and the appointment of new auditors for the upcoming fiscal year.
The shareholders received and adopted the Annual Audited Financial Statements and the Consolidated Audited Financial Statements for the year ended December 31, 2025. These statements were presented alongside the Auditors’ Reports, Directors’ Report, and Chairman’s Review, all approved by the Board of Directors.
A significant decision was made regarding the appointment of auditors. With the term of the current auditors, KPMG Taseer Hadi & Co., concluding, the bank appointed BDO Ebrahim & Co., Chartered Accountants, as the new statutory auditors for the year ending December 31, 2026. This change aligns with the Listed Companies (Code of Corporate Governance) Regulations, 2019, which prohibit reappointment after a five-year term.
The meeting also approved a final cash dividend of PKR 1.25 per share, equivalent to 12.5%. This is in addition to the previously declared interim cash dividend of PKR 1.50 per share, marking a total dividend of 27.5% for the year ended December 31, 2025. The final dividend will be distributed to members listed in the Register of Members as of the close of business on March 17, 2026.
According to information available from the Pakistan Stock Exchange (PSX), these developments are part of the bank’s broader strategy to enhance shareholder value and ensure compliance with regulatory frameworks.
Additionally, the bank sought to increase its authorized share capital from PKR 15 billion to PKR 20 billion, divided into 2 billion ordinary shares of PKR 10 each. This proposal, requiring amendments to the Memorandum of Association, is subject to compliance with the Companies Act, 2017, and approval from the State Bank of Pakistan.
The President & Chief Executive Officer, along with other senior executives, were authorized to undertake necessary actions to implement these resolutions, ensuring adherence to regulatory and legal formalities.