Karachi: United Bank Limited (UBL) disclosed a recent transaction involving its President and CEO, Mr. Muhammad Jawaid Iqbal. According to the report dated August 12, 2026, Mr. Iqbal executed a share transfer on August 5, 2026.

The transaction involved Mr. Muhammad Jawaid Iqbal gifting out 81,047 shares, with each share valued at zero. The shares were transferred to Mr. Umair Ahmad, who received them as a gift-in. Following the transaction, Mr. Ahmad's cumulative shareholding increased to 81,047 shares, while Mr. Iqbal's cumulative shareholding reduced to 5,000 shares. The cumulative percentage for both individuals remained unchanged at 0.0%, indicating no change in their ownership stakes.

According to information available from the Pakistan Stock Exchange (PSX), the transaction was carried out in the ready market using Central Depository Company (CDC) share certificates. The designated market category for these transactions was identified as 'Ready.'

The disclosure of such interest by the directors, CEO, executives, their spouses, and substantial shareholders of listed companies is a regulatory requirement aimed at ensuring transparency and maintaining investor confidence.