BankIslami delivers record 24% surge in profit
BankIslami has posted a record-breaking 24.4% rise in pre-tax profit to Rs. 25.5 billion for the year ending December 31, 2024, reinforcing its stature in Pakistan’s Islamic banking sector. Despite…
SBP reserves increased by US$ 21 million
The total liquid foreign reserves held by the country stood at US$ 15,925.7 million as of 21-Feb-2025. The break-up of the foreign reserves position is as under: Foreign reserves held…
Tooran Asif appointed as President & CEO of U Microfinance Bank Limited
PTCL Group, Pakistan's largest ICT services provider, is pleased to announce the appointment of seasoned banker, Tooran Asif as the new President & Chief Executive Officer (CEO) of U Microfinance…
Governor SBP urges banks to harness technology amid climate-resilient financing
Governor of the State Bank of Pakistan, Mr. Jameel Ahmad reiterated the need to significantly increase financial deepening in the country, adding that no country can achieve sustainable economic growth…
PQFTL launched first lifetime guaranteed pension plan accessible to all Pakistanis
Pak-Qatar Family Takaful Limited (PQFTL), a leading provider of Family Takaful solutions and part of Pak-Qatar Group, the country's premier and pioneer Islamic financial services group, has written history by…
SHC enforces section 99D on commercial banks
SHC enforces section 99D on commercial banks Sindh High Court (SHC) has dismissed petitions filed by commercial banks challenging the legality of the windfall tax, meaning Section 99D and SRO1588(I)/2023…
State Bank of Pakistan hosts 16th SAARCFINANCE Seminar
The State Bank of Pakistan (SBP) successfully organized the 16th SAARCFINANCE Seminar, titled “Challenges and Opportunities in the Capacity Building of Central Banks and the Financial Industry: Lessons for SAARC Countries.” held…
SBP has granted permission to Wemsol Private Limited to commence commercial operations
The SBP has granted M/s Wemsol Private Limited a license to commence commercial operations as an Electronic Money Institution (EMI). Under the license, the EMI shall offer consumers and merchants…
Faysal Bank partners with Special Olympics Pakistan for the 1st Faysal Bank Unified Marathon 2025
Faysal Bank Limited (FBL), one of Pakistan's leading Islamic banks, in partnership with Special Olympics Pakistan (SOP), hosts the ‘1st Faysal Bank SOP Unified Marathon 2025’ for the first time…
SBP issues Raast participation criteria
The State of the Bank of Pakistan (SBP) has issued Raast Participation Criteria outlining minimum requirements for entities desirous of becoming Raast participants. These entities must have the necessary functional…
SBP awards Pilot License to Mashreq Bank Pakistan to operate as a Digital Retail Bank
The Governor of the State Bank of Pakistan (SBP) awarded Mashreq Bank Pakistan Limited (MBPL) the first restricted license for pilot operations in a special meeting with the Board and…
SBP reserves increased by US$ 35 million
The total liquid foreign reserves held by the country stood at US$ 15,947.9 million as of 14-Feb-2025. The break-up of the foreign reserves position is as follows: Foreign reserves held…
Mobilink Bank to revolutionize digital financial services
Mobilink Bank, Pakistan’s leading digital microfinance institution, has partnered strategically with leading fintech innovator NymCard and technology consultancy Dellson Associates to accelerate digital financial services and cross-border enablement. The collaboration…
Faysal Bank unveils strong Financial Results for FY 2024
Faysal Bank Limited (FBL) continued its success story in 2024, demonstrating strong financial resilience and operational excellence. During its second year as a full-fledged Islamic Bank, FBL announced remarkable financial…
HBL posts strong 2024 profit of Rs 120 billion
Today, HBL declared a record profit before tax of Rs 120.3 billion for the year ending December 31, 2024, which is 6% higher than in 2023. The profit after tax…
Meezan Bank and TKBB forge strategic partnership to advance Islamic Finance
In a significant step towards fostering international collaboration in Islamic finance, Meezan Bank, Pakistan’s leading Islamic bank, and the Participation Banks Association of Türkiye, or Türkiye Katilim Bankalari Birliği (TKBB),…
Digital Banking is the Future; easypaisa digital bank is Making It Happen with ‘easy wala bank’
Banking, as we know, has changed forever. Gone are the days of long queues, endless paperwork, and rigid banking hours. In a world where everything is just a tap away,…
Faysal Bank honoured with Prestigious NFEH Awards
Faysal Bank Limited (FBL), one of Pakistan's leading Islamic banks, has been honoured with multiple prestigious awards at the 17th Annual Corporate Social Responsibility (CSR) Summit-2025, organized by the National…
CDC and IAP sign MoU for Life Insurance Policy Finder
Being at the forefront of end-user facilitation and creating ease of doing business, the Central Depository Company of Pakistan Limited (CDCPL) has signed an important Memorandum of Understanding (MoU) with…
World Bank’s $40 billion investment in Pakistan welcomed.
The Chairman of the National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of the All Karachi Industrial Alliance, the Chairman of the FPCCI…
Faysal Bank and Special Olympics Pakistan announce the 1st Unified Marathon in Lahore
Faysal Bank Limited (FBL), one of Pakistan’s leading Islamic banks, supports the 1st Faysal Bank SOP Unified Marathon in Lahore in collaboration with Special Olympics Pakistan (SOP). This groundbreaking event…
HBL and S&P Global Launch the PMI to enhance economic insights
HBL, in collaboration with S&P Global, announced the launch of the HBL S&P Global PMI® (Purchasing Managers’ Index™) series for Pakistan. This landmark initiative aims to provide valuable data and…
Standard Chartered Bank Pakistan and IFC aim to increase their un-funded Risk-Participation Programme
Building on the success of the existing USD 200 million PKR equivalent programme Risk-Participation Facility, Standard Chartered Bank Pakistan and the International Finance Corporation (IFC) are looking to enhance the…
SBP reserves decreased by US$ 252 million
The total liquid foreign reserves held by the country stood at US$ 15,862.6 million as of 07-Feb-2025. The break-up of the foreign reserves position is as under: Foreign reserves held…
Bank Alfalah strengthens Qist Bazaar with PKR 55m Equity and PKR 460m credit facility
Bank Alfalah, one of Pakistan’s leading financial institutions, has reinforced its commitment to financial inclusion by increasing its investment in Qist Bazaar, Pakistan’s rapidly growing buy-now-pay-later (BNPL) platform catering to…