AAOIFI and Meezan Bank jointly hosted a public hearing session on the new AAOIFI Sukuk Standard

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) with Meezan Bank hosted a significant public hearing session on the draft Shariah Standard on Sukuk. The event took place…

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Read more about the article MCB Bank, PITB and Mastercard to collaborate on PayZen and enhance digital payment landscape in Pakistan   
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MCB Bank, PITB and Mastercard to collaborate on PayZen and enhance digital payment landscape in Pakistan  

MCB Bank Limited, one of Pakistan’s leading banks, has entered into a strategic partnership with the Punjab Information Technology Board (PITB) and Mastercard Asia/Pacific Pte. Ltd. The ceremony, held at…

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Continuous investment in Skill Development key to financial industry’s success: SBP

Deputy Governor of the State Bank of Pakistan (SBP), Dr. Inayat Hussain highlighted the pivotal role of continuous learning in ensuring the long-term success of professionals within the financial industry.…

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Pakistan received a recorded inflow of US$3.2 billion of workers’ remittances during June 2024.

Workers’ remittances recorded an inflow of US$3.2 billion during June 2024. Regarding growth, during June 2024, remittances increased by 44.4 per cent on y/y basis. Cumulatively, with an inflow of…

Continue ReadingPakistan received a recorded inflow of US$3.2 billion of workers’ remittances during June 2024.

Bank Alfalah enriches tap and pay, enabling secure digital payments for Android Mobile Users

Bank Alfalah, one of the largest commercial banks in Pakistan, has announced the evolution of its Tap and Pay service, which is for Near-Field-Communication (NFC)-enabled cards at point-of-sale (POS) terminals…

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The financial system showed steady performance and soundness, according to the SBP Financial Stability Review 2023

State Bank of Pakistan (SBP) has issued its annual flagship publication, the Financial Stability Review (FSR) for CY2023, which is prepared and published in terms of requirements prescribed in sub-section…

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Pakistan’s banking sector has witnessed a run-up of 23% in the last three months and 115% in the last 12 months

Pakistan's banking sector has witnessed a run-up of 23% in the last 3 months and 115% in the last 12 months as market participants are reverting to historical valuation multiples…

Continue ReadingPakistan’s banking sector has witnessed a run-up of 23% in the last three months and 115% in the last 12 months

Telenor Microfinance Bank receives prestigious ISO/IEC 27001:2022 Certification

Telenor Microfinance Bank (TMB), operator of Pakistan’s leading digital financial services platform easypaisa has been awarded the prestigious ISO/IEC 27001:2022 by Risk Associates, a leading certification body accredited by UKAS.…

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Raqami Islamic Digital Bank selects BenchMatrix for the implementation of RiskNucleus® Anti-Money Laundering Solution

Raqami Islamic Digital Bank, one of the most prominent upcoming Islamic digital banks in Pakistan, has selected BenchMatrix’s proprietary solution, RiskNucleus® as its Anti-Money Laundering (AML) transaction monitoring solution. This…

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DepuSBP encourages banks to embrace SME finance as a core business line to boost MSME growth

The State Bank of Pakistan (SBP) joined the global community in celebrating Micro, Small, and Medium Enterprises (MSME) Day by highlighting the pivotal role these enterprises play in driving economic…

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ABHI Partners with Mastercard to enhance financial accessibility for employees in Pakistan

In a significant move towards revolutionizing the landscape of financial transactions in Pakistan, Mastercard, a global technology company in the payments industry, has partnered with ABHI, an embedded finance platform,…

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