Karachi: MCB Bank Limited has announced a significant loss of share certificates under folio number 34202. The incident was documented in a formal notification sent to the Pakistan Stock Exchange on October 8, 2024, marking a critical issue within the bank's securities management.

In a communication addressed to the General Manager of the Pakistan Stock Exchange, the bank detailed the loss of several share certificates, previously held by Mr. Muhammad Aqeel Khan. The certificates span various quantities and distinctive numbers, highlighting the need for rigorous tracking and management of such sensitive financial documents.

According to information available from the Pakistan Stock Exchange (PSX), the missing certificates include numbers ranging from 443036 to 169992479, covering a broad spectrum of shares. Each certificate bears a unique distinctive number, which complicates the recovery and reissuance process. The bank has urged the stock exchange members not to deal in these certificates and expects to issue duplicates if no objections are received within seven days.

This event underscores the ongoing challenges faced by financial institutions in managing physical share certificates and reinforces the importance of transitioning towards more secure, digital forms of share keeping. MCB Bank's prompt reporting and transparent handling of the incident reflect its commitment to upholding stringent governance and regulatory compliance standards.