Askari Bank Reports Loss of Over 14,000 Shares Due to Misplaced Certificates

Karachi: Askari Bank Limited has announced the loss of share certificates amounting to over 14,300 shares, impacting two of its shareholders, as reported to the Pakistan Stock Exchange (PSX). The misplaced certificates belong to Mrs. Roshan Bano and Mrs. Roshan Vayani, involving significant numbers of shares that are now subject to a regulatory alert.

Mrs. Roshan Bano’s lost certificates include shares totaling 5,301, spread across various certificates with the largest amount being 575 shares under certificate number 429266. Mrs. Roshan Vayani reported a higher total loss of 9,002 shares, with one of her certificates accounting for 1,980 shares.

According to information available from the Pakistan Stock Exchange (PSX), the bank has issued a directive to its members not to engage in transactions involving these shares for the next three days, allowing time for any objections or claims to be raised by other shareholders or interested parties. This precautionary measure is essential for maintaining the integrity of market transactions and protecting shareholder rights.

If no objections are received within this three-day period, Askari Bank will proceed with issuing duplicate certificates to replace those reported lost. This incident highlights the ongoing challenges in managing physical securities and the importance of rapid response mechanisms in financial institutions to address such issues effectively.

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