KARACHI: The Inter­national Finance Corp­oration (IFC) sig­ned an agreement with Bank Alfalah on Thur­sday to invest $67 million.

The agreement was signed at a ceremony in Abu Dhabi, attended by Sheikh Nahayan Bin Mubarak Al Nahayan and Bank Alfalah Chairman Sheikh Ham­dan Bin Mubarak Al Nahayan, along with bank’s President and CEO, Atif Aslam Bajwa and others.

Under the agreement, the IFC will acquire a strategic equity stake in Bank Alfalah of up to 20 per cent, initially investing up to $67m to subscribe to 15pc equity stake. The transaction is expected to close after obtaining final regulatory approvals before the end of the year.

Published in Dawn, November 21th, 2014