Lahore: Shareholders of Allied Bank Limited convened for an Extraordinary General Meeting on August 27, 2024, confirming the minutes of their 78th Annual General Meeting and electing new directors for a three-year term. The meeting, held in Lahore, resulted in the unopposed election of seven directors.

The shareholders confirmed the minutes of the March 28, 2024, Annual General Meeting as the first resolution on the agenda. The second resolution involved the election of directors, with the shareholders unanimously electing the following seven individuals: Mohammad Naeem Mukhtar, Sheikh Mukhtar Ahmad, Muhammad Waseem Mukhtar, Zafar Iqbal, Nazrat Bashir, Muhammad Kamran Shehzad, and Mian Ikram ul Haq.

The directors' election, to serve a term commencing from August 27, 2024, was conducted in accordance with Sections 154 and 159 of the Companies Act 2017. This election remains subject to the Fit and Proper Test clearance by the State Bank of Pakistan.

According to information available from the Pakistan Stock Exchange (PSX), the bank's management authorized the Company Secretary to complete all regulatory filings and actions related to the election of directors. This includes communication with the Registrar of Companies, the Securities and Exchange Commission of Pakistan, and the State Bank of Pakistan, ensuring compliance with all relevant regulations.

The meeting concluded with the passing of resolutions and the appointment of the new board members. Allied Bank Limited will move forward under the guidance of this newly confirmed leadership team for the next three years.