Islamabad: In a recent notification to the Pakistan Stock Exchange, MCB Bank Limited reported the loss of multiple share certificates belonging to the estate of the late Abdul Ghani Akram, as of September 19, 2024.

The lost certificates cover an array of distinct numbers, totaling 214 shares across various certificate numbers. The largest single loss includes 46 shares under certificate number 1684554. The certificates were listed under folio number 62694, registered at the Islamabad address of House No. 746, Street No. 19, Sector G-11/1.

According to information available from the Pakistan Stock Exchange (PSX), the bank has communicated to its members and the trading community, advising them to refrain from dealing with these certificates. If no legal objections are filed within seven days, the bank intends to issue duplicate certificates to the legal heirs of Mr. Akram.

This incident falls under the Large Cap category, indicative of the significant market influence and the critical need for stringent asset management protocols within such institutions. MCB Bank has reassured its stakeholders of enhanced security measures to prevent similar incidents in the future.