NBP and UBL collaborate for offering Digital Financial Services

National Bank of Pakistan (NBP) and United Bank Limited (UBL) inked a Strategic Partnership Agreement for providing NBP customers Digital Financial services, at the signing ceremony that took place at the NBP Head Office.

This Strategic Partnership agreement brings together the largest Government Bank with the pioneers of Digital Financial Services in the country, UBL Omni.

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Monetary Policy Statement

Pakistan’s economic growth is on track to achieve its highest level in the last eleven years. Average headline inflation remains within the forecast range of SBP, but core inflation has continued to increase. Fiscal deficit for H1-FY18 is expected to fall close to the last year’s 2.5 percent.

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NBP and Islamabad traffic police sign agreement for e-challan & payments

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.

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Pakistan’s liquid foreign reserves position

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.

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Deputy Governor SBP for review of Banks’ Business Models to adapt to the changing landscape

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.

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Bank Alfalah partners with Yayvo.com for E-Commerce payments & reward redemption

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.

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Easypaisa brings the most affordable and accessible Car Insurance policy in Pakistan

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.

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