Bank of Punjab receives SBP’s in-principle approval to establish Bahrain wholesale banking unit

The Bank of Punjab (BOP) has received in-principle approval from the State Bank of Pakistan (SBP) to establish an Overseas Wholesale Banking Unit in the Kingdom of Bahrain, subject to regulatory clearances in both countries.

 

In a notice to the Pakistan Stock Exchange (PSX) on Thursday, the bank said the SBP granted the approval through a letter dated August 5, 2026, following its earlier disclosure on the matter in July 2024.

 

BOP said the proposed wholesale banking unit will begin operations only after securing all required approvals from the relevant authorities in Pakistan and Bahrain. These include a No Objection Certificate (NOC) from the Central Bank of Bahrain and the issuance of the necessary banking license by the State Bank of Pakistan.

 

The bank added that the approval is subject to compliance with all applicable laws, regulations, and conditions prescribed by the SBP and said it will keep the PSX informed of any further material developments.