Karachi: The Pakistan Stock Exchange (PSX) has extended the suspension of trading for M/s. First National Bank Modaraba, citing ongoing compliance issues that have not been addressed since the initial suspension notice. The decision, communicated on January 6, 2026, follows a previous notice issued on November 6, 2025, underlining continued non-compliance with specific regulatory clauses.

The suspension relates to the Modaraba's failure to maintain commercial production and business operations in its principal line of business. Furthermore, a winding-up petition has been filed against the Modaraba by the Securities and Exchange Commission of Pakistan (SECP) in the court, exacerbating the situation. According to information available from the Pakistan Stock Exchange (PSX), these compliance failures fall under Clause 5.11.1.(a) and 5.11.2.(b) of the PSX Regulations.

This decision, effective from January 7, 2026, extends the suspension for an additional 60 days or until the underlying issues are resolved. The PSX exercised its authority under Sub-Section (7) of Section 19 of the Securities Act, 2015, to enforce the continuation of the suspension as per clause 5.11 of the PSX Regulations. Stakeholders have been advised to note these developments for their records.