KARACHI – State Bank of Pakistan (SBP) and Security and Exchange Commission of Pakistan (SECP) have accorded approval for the merger of MCB Asset Management Company Ltd with Arif Habib Investment Limited.
According to a communique sent to KSE, MCB said that the merger is subject to compliance of applicable laws and other regulatory approval. The board of directors of both companies had already given approval to the merger.
MCB said the merger is part of its strategy to improve and strengthen its asset management business.
