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Bangladesh Bank and State Bank of Pakistan have both given Bank Alfalah Limited (PSX: BAFL) in-principle authority to exit Bangladesh.
Since BAFL is going to sell all of its assets and debts related to its operations in Bangladesh to HNB, Hatton National Bank PLC (HNB) of Sri Lanka has been permitted to help HNB do its due diligence on those activities. In addition, Bank Asia Ltd. (Bangladesh) is now conducting due diligence.
The Proposed Transaction can only go through if thorough due diligence is done, BAFL accepts a binding offer, transaction papers are signed, and regulatory and third-party approval and consents are received.
