Karachi, MCB Bank Limited has reported to the Pakistan Stock Exchange (PSE) that Mr. Muhammad Tariq Rafi, a director of the bank, has executed a significant share purchase, acquiring 814,623 shares at a rate of PKR 183.76 per share on February 9, 2024. The transaction was conducted through the Central Depository Company (CDC).

This disclosure is in compliance with clause No. 5.6.4 of the PSX Regulations, which mandates the reporting of transactions by directors, CEOs, and executives of listed companies. MCB Bank has affirmed that this transaction will be thoroughly reviewed in the upcoming Board of Directors meeting, ensuring any non-compliance, if identified, is addressed as per regulatory requirements.

The bank has also confirmed adherence to the holding period stipulation under Section 105 of the Securities Act, 2015, stating that if the holding period for the transaction is less than six months, any profit derived from such transactions will be deposited with the Securities and Exchange Commission of Pakistan (SECP), with a corresponding intimation to the PSX.

This move by a key figure within MCB Bank highlights the confidence in the bank's performance and future prospects, reaffirming the commitment of its leadership to the institution's growth and stability.