Auction of Gold Ornaments Pledged Against Finance Facilities

Mobilink Bank, Branch DHA-2 Islamabad, is conducting an auction of gold ornaments pledged as security against finance facilities extended to a customer who has defaulted on repayment. The auction will take place at the bank branch on 29-07-2026 at 10:00 AM. The customer involved is Musarrat Parveen from Rawalpindi, who pledged gold items including 1 Kenthi, 2 Kaantay, and 1 Tikka with a total weight of 17.4 grams. Items being procured: - 1 Kenthi - 2 Kaantay - 1 Tikka This auction involves the sale of pledged gold ornaments due to non-payment of the outstanding financed amount along with markup. The bank has issued a public notice to the customer, warning that failure to repay within one day of this notice will result in the auction proceeding without further announcements. Bidders should note that the auction is a direct sale of pledged assets and does not involve a traditional tender process. Interested parties should attend the auction at the specified date and time at the Mobilink Bank DHA-2 Islamabad branch. No technical or financial bid submissions are required. The auction provides an opportunity for suppliers or investors interested in acquiring gold ornaments at potentially competitive prices. It is advisable to inspect the items beforehand if possible and be prepared with Earnest Money or payment as per auction terms. A practical tip for bidders is to verify the authenticity and condition of the gold ornaments prior to the auction and ensure timely presence at the auction venue to avoid missing the opportunity. This auction is a straightforward sale and requires prompt action. The Mobilink Bank branch handling this auction is located in Islamabad, but the pledged items and customer address are in Rawalpindi, Punjab. The closing date for payment or auction participation is effectively one day after the notice publication, with the auction scheduled on 29-07-2026 at 10:00 AM.