SBP puts six-month moratorium on KASB bank

KARACHI: The State Bank of Pakistan on Friday put a six-month moratorium on Khadim Ali Shah Bukhari Bank (KASB).

According to the State Bank, the decision was taken keeping in view the financial condition of the bank.

It said that the federal government had issued instructions for reorganization and merger of the KASB.

The State Bank said that account holders having less than Rs300, 000 in their accounts would be able to withdraw their money.