Karachi: Bank Alfalah Limited has announced the withholding of cash dividend payments for shareholders lacking necessary identification and banking details. During a board meeting on October 22, 2026, the bank recommended a third interim cash dividend of Rs. 1.5 per share, equivalent to 30% for the third quarter and nine months ending September 30, 2026. The share transfer books will remain closed from November 5 to November 6, 2026.

The bank's decision follows the Companies Act, 2017, which mandates direct credit of dividends to shareholders' bank accounts listed in the register as of November 4, 2026. However, the Companies (Distribution of Dividends) Regulations, 2017, allows withholding for those without a Computerized National Identity Card (CNIC) or a valid 24-digit International Bank Account Number (IBAN).

According to information available from the Pakistan Stock Exchange (PSX), shareholders who have not provided necessary information have been notified through letters. The bank urges them to submit the required details promptly. Once received, withheld payments will be electronically processed within 15 days.

Shareholders must provide the information to their CDC Participant or Investor Account Services for electronic shares, or to the Bank's Share Registrar, F.D. Registrar Services (Pvt.) Ltd, for physical shares.