Karachi: Ms. Fouzia Jabeen Janjua, a General Manager at Habib Bank Limited, engaged in multiple transactions on July 3, 2024, selling a total of 5,000 shares in separate sales at rates ranging from 129.85 to 132.00.

According to information available from the Pakistan Stock Exchange (PSX), Ms. Janjua sold 2,000 shares at 129.85, another 1,000 shares at 129.95, and an additional 2,000 shares at 132.00. All transactions were conducted in a ready market using CDC certificates.

These transactions will be reviewed in the upcoming board meeting of Habib Bank Limited to ensure they align with regulatory requirements under clause No.5.6.1.(d) of the PSX Regulations. The board will also address any potential non-compliance issues that may arise from these sales.

The bank has confirmed that the shares sold had been held by Ms. Janjua for more than six months. Compliance with Section 105 of the Securities Act, 2015, ensures that if the shares had been held for less than this period, the profits would have been subjected to specific regulatory measures, including depositing a cheque equivalent to the profits with the Securities and Exchange Commission of Pakistan (SECP), with necessary notifications to PSX.

This series of transactions underscores the rigorous compliance and transparency standards upheld by participants in Pakistan's financial markets.