Gold Ornaments Auction at U Bank Islamabad

NOTE: This is an AUCTION/LEASE notice, not a procurement tender. Bidders pay the department to acquire ownership, lease, rental, or collection rights. U Microfinance Bank Limited, Islamabad, is conducting a public auction of pledged gold ornaments from defaulter loan accounts. The auction will be held at the bank's Head Office in Islamabad. Interested buyers are invited to participate in this open auction process, which is being conducted in accordance with the bank's recovery and asset disposal policies. The auction is open to all eligible individuals and firms who wish to purchase gold ornaments through a transparent bidding process. Items being auctioned: - Gold ornaments pledged by defaulter loan account holders (detailed list available at the bank office) The gold items are available for inspection at the U Bank Head Office, G-8/4, Islamabad, during working hours up to 10 days from the date of this advertisement. The auction will take place on 30 September 2026. All interested parties must ensure they have valid identification and are prepared to deposit earnest money as per the bank's requirements before participating in the bidding process. The successful bidders will be required to pay the full bid amount immediately after the auction is concluded. For eligibility, participants must comply with all terms and conditions set by U Microfinance Bank Limited. It is advisable to review the detailed list of gold items and the auction terms in advance. The auction will be conducted in a transparent manner, and the highest bid for each lot will be considered for award, subject to the bank's approval. Bidders are encouraged to arrive early on the auction day to complete registration and inspection formalities. A practical tip: bring a certified pay order or demand draft for earnest money to avoid delays in registration and to ensure your participation is not hindered by last-minute banking issues. For further details, contact the bank at the number provided below.