Karachi: The Pakistan Stock Exchange (PSX) has announced an extension of the suspension of trading in the shares of M/s. First National Bank Modaraba, effective from May 07, 2026, citing ongoing legal and compliance issues.
According to a notice issued by the PSX, the suspension is due to the modaraba’s failure to address the initial cause of the suspension, which includes non-compliance with specific clauses of the PSX regulations. The regulations in question pertain to the cessation of commercial production and business operations, as well as a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP) against the modaraba.
The trading halt will remain in place until the issues leading to the suspension are resolved or for an additional duration of 60 days, whichever comes first. This decision is based on the authority provided to the exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.
According to information available from the Pakistan Stock Exchange (PSX), the continuation of the suspension highlights the regulatory challenges faced by First National Bank Modaraba as it navigates through the legal proceedings initiated by the SECP.
This development is part of the ongoing efforts by the PSX to ensure compliance with its regulations and maintain the integrity of the market. The notice serves as an official record of the exchange’s decision and is intended for documentation purposes.