KARACHI: The Royal Bank of Scotland has clarified a news-item, appearing in Dawn on Dec 19 under the heading ‘SBP declines to issue NOC: RBS-MCB deal in doldrums.’
Clarifying its position on Saturday, the bank said it had deposited its 99.37 per cent shares of the RBS (Pakistan) in blocked account with the Central Depository Company of Pakistan (CDC) at the time when it acquired the shares as required by the relevant circular issued by the State Bank.
It further said that the RBS has taken no loan of any nature against the security of sponsors shares either from the State Bank or from any other institution.
‘Non-issuance of no-objection certificate by the State Bank ‘is not because of any fault of the RBS’ nor due to non-fulfillment of any conditions by the RBS,’ said the RBS statement.
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