ISLAMABAD: The Securities and Exchange Commission of Pakistan on Thursday warned the public against the activities of Trust Investment Bank Ltd (TIBL).
“Please be informed that the SECP has cancelled the licence of Trust Investment Bank Limited (TIBL) effective from Nov 1, 2018 due to its continuous violations of the NBFC Regulatory Framework,” the regulator said in a general public announcement.
The Commission has also filed winding up petition in the Lahore High Court in January 2019.
Since its licence has been cancelled and the winding up petition has been filed, TIBL is not authorised to undertake any form of licensed business as a Non-Banking Finance Company under the NBFC Regulatory Framework.
The SECP has warned all persons concerned and public at large have to be cautious and not to engage in any business relationship with TIBL as an NBFC.
It added that if anyone acting directly or on behalf of TIBL solicits for provision of any NBFC business activity; it is advised that the matter should be immediately brought into the Commission’s notice.
Published in Dawn, January 28th, 2022
