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Pakistan's Bank Alfalah receives offer for Afghanistan operations

Bank Alfalah Ltd. has received an offer from an unnamed buyer to acquire its Afghanistan operations.

The nonbinding offer followed approval from the lender's board to explore the potential sale of its business and assets in Afghanistan, the bank said in a Feb. 26 report.

The bank then proceeded with the possible transaction, subject to relevant approvals and due diligence. The State Bank of Pakistan has given an in-principle approval for the potential deal.