Change of Chairman of Apna Microfinance Bank Limited

Karachi, Apna Microfinance Bank Limited informed Pakistan Stock Exchange about appointment of Mr. Muhammad Akram Shahid as Chairman of the company in place of Qamar Uz Zaman with effect from September 24, 2016.

Apna Microfinance Bank Limited was incorporated in Pakistan on May 8, 2003 as a public limited company. The commencement certificate of the company was issued in December 28, 2004. The operations of the business started from January 1, 2005. The foundations of the company are formed under the Companies Act, 1913 now the Companies Ordinance, 1984. The principal business activity of the bank is to provide microfinance services to the poor and underserved segment of the society as envisaged under the Microfinance Institutions Ordinance, 2001. The registered office of the company is located in Karachi. The shares of the company are quoted on Karachi Stock Exchange of Pakistan.

The Bank operates 11 branches as at June 30, 2013 and is licensed to operate on district level. The products of the bank include providing finances, advances and other credit facilities for the development of the society. Through this the savings are mobilized and other specialized deposit products are also improved with time.

The symbol “AMBL” is being used by the stock exchanges for the shares of Apna Microfinance Bank Limited.