|Subject||:||Revision in International Bank Account Number (IBAN) of NIB Bank Limited|
December 06, 2017
You may be aware that NIB Bank Limited has been merged into MCB Bank Limited. This has resulted in issuance of revised IBANs for those account holders who were previously maintaining their accounts with NIB Bank Limited. In this regard, a notification was also sent by MCB Bank Limited to NIB Bank’s account holders. Therefore, IBAN of NIB Bank Limited is no more valid for the payment of dividend through electronic mode.
You are therefore requested to obtain revised IBAN and bank details from your Sub Account holders whose accounts contain IBAN and related details of NIB Bank Limited and update their Sub Accounts Registration Details accordingly. For your convenience, you can search Sub Account holder(s) having NIB Bank’s IBANs (i.e. PK--NIBP-------) under your Participant umbrella by downloading “IBAN Status Report” from CDS.
We would like to reiterate that as per Section 242(3) of the Companies Act, 2017, listed companies are entitled to withhold payment of dividend, if valid IBAN information is not provided by shareholders.
Should you have any queries or concerns, please feel free to call our Customer Support Services at 0800-CDCPL (23275).
Abdul Basit KothariSenior Manager - Operations & Customer Support Services