Karachi: BankIslami Pakistan Limited has released a draft notice for its 22nd Annual General Meeting (AGM), set to occur on March 27, 2026, along with an updated book closure schedule to accommodate the anticipated Eid-ul-Fitr holidays. The meeting will be held at 10:15 a.m. at Zaver Hall, Pearl Continental, Club Road, Karachi.
The bank has revised its previous schedule, now closing its Share Transfer Books from March 18 to March 27, 2026. This adjustment ensures timely processing of entitlements related to the AGM. Transfers received by the close of business on March 17, 2026, will qualify for these entitlements.
During the AGM, the members will consider several items of ordinary business. These include receiving and adopting the Annual Audited Financial Statements for the year ending December 31, 2025, alongside related reports. Additionally, the bank will appoint new auditors, as KPMG Taseer Hadi & Co. will retire following their five-year term. The Audit Committee and the Board of Directors have recommended BDO Ebrahim & Co. as the new external auditors for the year ending December 31, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the agenda includes approving a final cash dividend of PKR 1.25 per share, which equates to a 12.5% payout, in addition to a previously declared interim cash dividend of PKR 1.50 per share, or 15%.
A significant item on the agenda is a special resolution to increase the bank’s authorized share capital from PKR 15 billion to PKR 20 billion. This increase, aimed at bolstering the bank’s regulatory capital to support growth plans, will be achieved by adding 500 million ordinary shares of PKR 10 each. The proposed increase will not adversely affect any member’s rights or interests.
The bank emphasizes that none of the directors or their relatives have any material interest in the proposed resolutions outside their roles as shareholders. In compliance with regulatory requirements, the bank seeks approval from relevant authorities, including the State Bank of Pakistan, to amend its Memorandum of Association to reflect the new authorized capital.