Extension of Habib Bank Limited’s Settling Bank Closure Date at Lahore Stock Exchange Branch

Lahore: National Clearing Company of Pakistan Limited Announces Critical Update for Clearing Members

The National Clearing Company of Pakistan Limited (NCCPL) has issued an update extending the closure date for Habib Bank Limited as a Settling Bank at its Lahore Stock Exchange (LSE) branch. Originally set for September 30, 2024, the extension follows a request from Habib Bank Limited due to administrative reasons. Clearing Members are advised to switch their Settling Bank arrangements from Habib Bank Limited – LSE Branch, Lahore to an alternative designated Settling Bank by the new deadline.

This announcement is part of ongoing adjustments within the NCCPL’s operations to ensure smooth clearing and settlement processes across its network. The extension aims to provide Clearing Members sufficient time to make necessary transitions without disrupting their operational flow.

According to information available from the Pakistan Stock Exchange (PSX), this directive comes in continuation of the NCCPL Circular No. NCCPL/CM/SEPTEMBER-24/02, dated September 9, 2024. Habib Bank Limited had sought this extension to better prepare for the transition, ensuring that all stakeholders involved, including investors and brokerage houses, face minimal inconvenience during this change.

Clearing Members can access a complete list of designated Settling Banks through the NCCPL’s official website, enabling them to update their banking details accordingly. The NCCPL underscores the importance of adhering to this revised schedule to maintain the integrity and efficiency of the clearing and settlement mechanisms.

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