Karachi: Bank Makramah Ltd. has announced a rescheduling of its Board of Directors meeting, originally set for February 11, 2025, to a new date on February 13, 2025. The meeting, planned to take place at 11:00 a.m. in Karachi, will focus on considering the budget for the year 2025, among other agenda items.

The bank's decision to reschedule has led to an extension of the previously declared 'Closed Period'. Initially set from February 7, 2025, to February 11, 2025, the period will now extend until February 13, 2025. This extension is a compliance measure in alignment with the requirements of the Code of Corporate Governance and the applicable regulations of the Pakistan Stock Exchange (PSX).

According to information available from the Pakistan Stock Exchange (PSX), during the 'Closed Period', none of the directors, CEO, executives, or any of their spouses are permitted to deal, directly or indirectly, in the shares of Bank Makramah Ltd. This is a standard practice to prevent any potential conflicts of interest or insider trading activities.

The bank has requested the dissemination of this updated information to the Trading Right Entitlement (TRE) certificate holders of the Exchange. This move ensures transparency and keeps stakeholders informed of the changes in the bank’s schedule and compliance measures.

Bank Makramah Ltd. falls under the designated market category of financial institutions, which are closely monitored by regulatory bodies to maintain market integrity and investor trust. The bank's proactive communication about the rescheduled meeting and extended closed period underscores its commitment to adhering to regulatory standards and fostering a transparent operational environment.