The Governor SBP visited the Central Bank of the Russian Federation (CBRF) Headquarters in Moscow, Russia on January 15, 2018. This is the first ever visit of an SBP Governor to CBRF. As an important milestone, the SBP has signed a Memorandum of Understanding on bilateral central banking cooperation with the CBRF.… Read the rest
National Bank of Pakistan (NBP) and Bank of China Pakistan Operations (BOCP) signed a MoU to promote banking services in the country. The MoU will focus on developing niches and creating synergies between the two institutions. The MoU will strengthen the ironclad brotherhood between the two nations.… Read the rest
In a grand ceremony in IG Office Islamabad, National Bank of Pakistan and Islamabad Traffic Police (ITP), signed an agreement for E-Challan and payments system in Islamabad Capital precinct. This partnership will enable the issuance of paperless challan to the driver through a hand held smart phone mobile application along with electronic receipt to driver via SMS.… Read the rest
According to state Bank of Pakistan, the total liquid foreign reserves held by the country stood at US$19,693.2 million on 24November2017.The break-up of the foreign reserves position is as under :-
Foreign reserves held by the State Bank of Pakistan: US$ 13,547.3 million
Net foreign reserves held by commercial banks : US$ 6,145.9 million
Total liquid foreign reserves : US$ 19,693.2 million
During the week ending 24November2017, SBP’s reserves increased by US$6 million to US$13,547 million.… Read the rest
Deputy Governor, State Bank of Pakistan, Mr. Jameel Ahmad, has emphasized the need for a review of the prevailing banking business models to effectively address the challenges of rapidly changing financial and technological landscape. Mr. Ahmad was addressing eminent scholars, industry practitioners and leading professionals on the topic of “Changing Dynamics: Bank of the Future” as a key note speaker at the 29th Annual Convention of Association of Professional Bankers (APB)—Sri Lanka, held at Cinnamon Grand, Colombo on 21st November, 2017.… Read the rest
Bank Alfalah and Yayvo.com signed a Memorandum of Understanding, allowing Bank Alfalah customers to conveniently purchase items from one of Pakistan’s biggest e-commerce stores, further enhancing the scope of e-commerce and digital payments in the country.
Yayvo.com will integrate Bank Alfalah’s payment gateway and power Bank Alfalah’s Orbit Mall for the bank’s loyalty customers, account and card holders.… Read the rest
Pakistan Mortgage Refinance Company’s office was formally inaugurated in Karachi recently by Mr. Jameel Ahmad Deputy Governor, State Bank of Pakistan. Speaking on the occasion, Deputy Governor Mr. Jameel Ahmad said, “PMRC would provide long term funding at fixed rate which will increase affordability for mortgage borrowers”.… Read the rest
Consistently bringing innovation in Pakistan’s financial services framework, Easypaisa, in collaboration with United Insurance Company, is proud to introduce the industry’s first ‘Easypaisa Car Insurance’, offering the most affordable and accessible set of auto coverage in Pakistan.
Easypaisa Car insurance can be availed by paying a premium price of 2.5% of the car’s market value annually, whereas competitive plans typically cost more.… Read the rest
Pakistan’s first and largest mobile financial service, Easypaisa, has successfully launched the Easypay school fee payment solution to benefit educational institutes, students and parents through digitizing payments. With Easypay, Easypaisa enables parents and students to pay online with the convenience of choosing the payment option that best suits their need.… Read the rest
NIT has launched NIT-Islamic Income Fund (NIT-IIF) w.e.f 04thJuly, 2016 during the holy month of Ramadan. The Fund has been introduced to meet the growing demand for Shariah Compliant Investment products. This is the Third Shariah Compliant Fund which has been added to the family of funds offered by the company.… Read the rest