Karachi: Apna Microfinance Bank Limited has announced the unopposed election of seven candidates to its Board of Directors, as detailed in newspaper notices published in the Karachi editions of Daily Times and Daily Nai Baat. This development follows an earlier communication from the bank dated June 10, 2025.

The election process is in accordance with Section 159 (4) of the Companies Act 2017. The candidates have declared their intention to serve on the board, and with the number of candidates matching the number of available positions, a ballot will not be necessary. The Extraordinary General Meeting, during which these appointments will be finalized, is scheduled for June 18, 2025, in Karachi.

The individuals set to join the board are Mr. Muhammad Akram Shahid, Mr. Imad Mohammad Tahir, Mr. Mohammad Asghar, Mr. Shahid Hassan, Mr. Abdul Aziz Khan, Ms. Sultana Naheed, and Mr. Nazish Ali. These candidates are expected to bring their expertise and guidance to the bank, which operates within the designated market category of microfinance.

According to information available from the Pakistan Stock Exchange (PSX), the current situation aligns with the provisions of Section 159(1) of the Companies Act 2017, as well as Article 64 of the bank’s Memorandum and Article of Association. The absence of a need for balloting in this instance is a result of the equal number of candidates and positions.

The new board members will assume their roles following the June meeting, contributing to the bank's ongoing governance and strategic direction.