Karachi: Askari Bank Limited has announced a temporary suspension of trading for its Term Finance Certificate, AKBLTFC7, to facilitate the book closure for its 19th profit payment. According to the bank's announcement, the book closure will occur from December 10, 2024, to December 16, 2024, necessitating the suspension of trading from December 09, 2024, to December 16, 2024. Trading is scheduled to resume on December 17, 2024.

According to information available from the Pakistan Stock Exchange (PSX), this suspension is part of the bank’s routine financial operations to ensure the accurate processing of the profit payment on the TFCs. Stakeholders and investors have been requested to take note of these dates to avoid any inconvenience.

The temporary trading halt is a procedural measure taken by financial institutions to ensure the smooth execution of financial transactions related to profit payments and other corporate actions.