SBP launches complaint resolution portal to promote affordable housing

The Prime Minister of Pakistan chaired a meeting of National Coordination Committee on Housing, Construction and Development (NCCHCD) in Islamabad today. Governor State Bank, Dr. Reza Baqir, presented key features of an online complaint resolution mechanism developed by State Bank of Pakistan (SBP) to resolve complaints of potential customers under Government’s Markup Subsidy Scheme for affordable housing.

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Careem partners with UNDP

Careem has partnered with the United Nations Development Programme (UNDP), to raise awareness on gender sensitization, traffic rules and civic sense through a series of animated videos. The videos will be used for engagement of youth on social issues and being incorporated in the onboarding process for training Careem’s Captains at the time of registration.

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SBP reserves decreased by US$ 386 million

The total liquid foreign reserves held by the country stood at US$ 20,120.3 million on 15-January-2021. The break-up of the foreign reserves position is as under: –

  • Foreign reserves held by the State Bank of Pakistan: US$ 13,013.8 million
  • Net foreign reserves held by commercial banks     : US$ 7,106.5 million
  • Total liquid foreign reserves             : US$ 20,120.3 million

During the week ended 15-January-2021, SBP reserves decreased by US$ 386 million to US$ 13,013.8 million, due to external debt repayments.

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Meezan Bank and the Islamia University of Bahawalpur (IUB) join hands to Islamic Finance expertise

Meezan Bank, Pakistan’s first and largest Islamic bank and The Islamia University of Bahawalpur (IUB) have recently signed a Memorandum of Understanding (MoU) to abridge the industry-academia gap marking a milestone for both the organizations in initiating a collaboration for planning, research engagement and knowledge exchange activities.

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Ilma University’s Research on solid waste recycling with the United Nations Sustainable Development Goal – Climate Action

It was another tremendous milestone accomplished as Ilma University’s scholarly article got published in the world-recognized journal. Department of Business Administration is applauded for its efforts in producing contribution from its high calibre scholar Arshian Sharif. The article titled, Dynamic and casualty interrelationships from municipal solid waste recycling to economic growth, carbon emissions and energy efficiency using a novel bootstrapping autoregressive distributed lag which targeted the SDG # 13 – Climate Action was recently included as top research in ELSEVIER journal.

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Avanza Solutions, Hysab Kytab sign a strategic partnership agreement to boost the digital financial inclusion of customers

Avanza Solutions – one of the leading Fintech organizations across the globe, has entered into a strategic partnership with Hysab Kytab –a Fintech that offers a suite of financial management solutions. The collaboration will help in providing individual-level personalized financial management products and services to the digital banking customers.

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Policy rates likely to remain unchanged

According to Spectrum Securities Limited, the Central Bank is likely to maintain Policy Rate in upcoming Monetary Policy State Bank of Pakistan, scheduled to announce its next 2-month monetary policy on Jan’22, 2021.

In the current economic scenario, experts foresee the status quo in the policy rate is the plausible option for the Central Bank, as the economy still needs an accommodative policy to accelerate recovery.

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Policy rates likely to remain unchanged

According to Spectrum Securities Limited, the Central Bank is likely to maintain Policy Rate in upcoming Monetary Policy State Bank of Pakistan, scheduled to announce its next 2-month monetary policy on Jan ’22, 2021.

In the current economic scenario, experts foresee the policy rate’s status quo is the plausible option for the Central Bank, as the economy still needs an accommodative policy to accelerate recovery.

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Brandverse partners up with Jomo to capture the true essence of every product

Brandverse, Pakistan’s largest & fastest automated production studio for e-commerce content creation has partnered with a newly launched fashion e-commerce marketplace, Jomo, to help them take their products online through the provision of e-commerce photography services.

Brandverse, with its cutting-edge technology, state of the art facility and unmatchable speed has provided Jomo with high quality product content and immersive video presentation for thousands of lifestyle products ranging from shoes, clothes and accessories, all delivered within a month, as a part of their debut launch effort.

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Pakistan Stock Index closed at 45,677pts today

· Market dipped further by 358pts during the session courtesy of redemption at mutual funds which prompted selling in Banks, E&P, Power, Cement and O&GMCs. Investors preferred switching to Food, Chemical and Power sectors as safe haven. E&P stocks went contrary to the trend of international crude oil prices, which went up overnight.

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Accountancy and finance profession viewed as being ‘broadly inclusive’, but more needs to be done, finds global research

Sixty-one per cent of global respondents to a survey amongst accountancy and finance professionals say that they work in an environment free from harassment and discrimination, ACCA (the Association of Chartered Certified Accountants) reveals in a new report Leading Inclusion.

The results for the 466 respondents in Pakistan show 52 per cent believe this to be the case, with 37 per cent saying ‘partially’ and nine per cent saying ‘no’.

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Agha Dialysis Centre provides free dialysis treatment

Agha Dialysis Centre (ADC) has provided specialized free dialysis treatment to more than 50,000 patients suffering from renal disease at its facilities in Karachi since its establishment in July 2015.The ADC is run by Agha Welfare Trust (AWT) and provides safest, most effective specialized treatment to people suffering from end-stage renal disease free of cost.

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