Fauji Foundation Plans to Acquire Major Stake in Silk Bank Fauji Foundation has officially approached Silk Bank seeking an interest to acquire a major shareholding in the bank, according to the official notification issued to Pakistan Stock Exchange (PSX). The management of the Silk Bank has informed its shareholders that its board of directors decided to give in-principle approval to Fauji Foundation to conduct due diligence to evaluate the information and operation details of the bank. However, a green signal is required from the State Bank of Pakistan to carry out the exercise of due diligence to Silk Bank. ALSO READ