SBP reserves increased by US$ 29 million
The total liquid foreign reserves held by the country stood at US$ 15,967.7 million as of 15-Nov-2024. The break-up of the foreign reserves position is as under: Foreign reserves held…
Mashreq expands Global Climb2Change initiative
Mashreq, a leading financial institution in the MENA region, has announced the launch of its clean-up expedition in Egypt as part of the bank’s global initiative to scale and clean…
M/s. E-Processing Systems Private to commence commercial operations
The SBP has granted M/s E-Processing Systems Private Limited (EPSPL) a license to commence commercial operations as an Electronic Money Institution (EMI). Under the license, the EMI shall offer e-money…
BankIslami celebrates Women Entrepreneurship Day
BankIslami, a leading Islamic bank in Pakistan, recently celebrated Women Entrepreneurship Day at its branches across the country along with the State Bank of Pakistan. The celebrations were marked by…
Visa has launched the availability of the Visa Airport Companion app
Visa (NYSE: V), a global leader in digital payments, has launched the availability of the Visa Airport Companion (VAC) app, a premier digital solution designed to enhance airport lounge access…
Governor SBP underscores the need to support women entrepreneurs for an inclusive Pakistan
The Governor of the State Bank of Pakistan (SBP), Mr. Jameel Ahmad, emphasized the importance of supporting women entrepreneurs in Pakistan, noting that they currently make up less than 10…
TMB/easypaisa announces impressive financial results for Q3 2024
Telenor Microfinance Bank (TMB), the operator of Pakistan’s leading digital financial services platform, easypaisa, has received US$10 million in equity investment from its shareholders, Telenor Group, and Ant Group, as…
State Bank suspends the authorization of an Exchange Company
The State Bank of Pakistan has suspended the authorization of an Exchange Company, M/s Islamabad Exchange Company (Pvt.) Limited, with immediate effect until further orders are issued regarding violations of…
Payoneer reports record Q3 growth
Payoneer (NASDAQ: PAYO), a global fintech leader empowering small and medium-sized businesses (SMBs) to expand globally, has reported its highest-ever Q3 revenue, reaching $248 million—a 25% increase year-over-year. With growth…
BP reserves increased by US$ 84 million
The total liquid foreign reserves held by the country stood at US$ 15,965.5 million as of 08-Nov-2024. The break-up of the foreign reserves position is as follows: Foreign reserves held…
Meezan Bank and CashNow join hands to develop Pakistan’s First Digital Islamic Supply Chain Finance
Meezan Bank, Pakistan’s leading Islamic bank, has entered into a strategic alliance with CashNow, Pakistan's pioneering supply chain finance platform, to revolutionize Shariah-compliant supply chain finance. A Memorandum of Understanding…
Abhi & TPL Corp receive approval to Acquire FINCA Microfinance Bank
In a groundbreaking development, Abhi Private Limited and TPL Corp Limited have received approval from the State Bank of Pakistan to purchase FINCA Microfinance Bank Limited jointly. The strategic alliance…
BankIslami launches New Mobile App amid secure accessible banking
BankIslami, one of Pakistan’s top Islamic banks, has introduced its redesigned mobile app, aiming to elevate the mobile banking experience with state-of-the-art security and user-friendly features tailored for customers across…
Sehat Kahani and Jubilee Life partner to expand OPD services in Pakistan
Jubilee Life Insurance, Pakistan’s leading private-sector life insurance company, has expanded its partnership with Sehat Kahani, the nation’s leading telemedicine platform, to introduce outpatient department (OPD) claims management services. This…
Bank Alfalah unveils new AlfaMall with Fashion Category
Bank Alfalah, one of Pakistan’s leading commercial banks, proudly announced the relaunch of AlfaMall, the bank’s premier e-commerce platform and the country’s largest formal Buy Now, Pay Later (BNPL) marketplace,…
A mini-budget must remain in the IMF program
Dr. Shahid Rasheed Butt, a business leader and past president of the Islamabad Chamber of Commerce and Industry (ICCI), on Monday expressed his concern over the falling tax-to-GDP ratio, saying…
SBP reserves increased by US$ 18 million
The total liquid foreign reserves held by the country stood at US$ 15,931.8 million as of 01-Nov-2024. The break-up of the foreign reserves position is as follows: Foreign reserves held…
Meezan Bank partners with Trifit Gym to offer fitness discounts
Meezan Bank, Pakistan’s leading Islamic bank, has recently entered into an exclusive partnership with Trifit Gym, a world-class fitness club in Karachi and Islamabad, to offer its premium cardholders a…
Pakistani workers send record remittances of $ 3.1 bn in October 2024
Workers’ remittances recorded an inflow of US$ 3.1 billion during October 2024. Regarding growth, remittances increased by 6.7 percent and 23.9 percent on an m/m and y/y basis, respectively. Cumulatively,…
Fourth cut in interest rates is beneficial but insufficient: Mian Zahid Hussain
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board,…
BankIslami’s Vision of ‘Saving Humanity from Riba’ Resonates with Pakistan’s Diverse Communities
BankIslami, a leading Islamic financial institution in Pakistan, has launched a significant initiative to promote its riba-free (interest-free) banking services to individuals of diverse backgrounds and faiths underscoring the bank's…
Meezan Bank inks agreement to Join the ITFC to support private sector
Meezan Bank, Pakistan’s leading Islamic bank, has signed a new strategic partnership with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, under…
2.5 percent cut in interest rate not in line with a declining trend in inflation: Jawed Bilwani
President of the Karachi Chamber of Commerce and Industry (KCCI), Muhammad Jawed Bilwani, while commenting on the State Bank’s decision to reduce the interest rate by 2.5 percent, bringing it…
KATI welcomes a 2.5% interest rate cut
The Korangi Association of Trade and Industry (KATI) President Junaid Naqi welcomed the State Bank of Pakistan’s recent 2.5% interest rate cut, calling it a positive step but emphasizing the…
InfraZamin Pakistan and Sunridge Foods Ink Deal for Agri-Infrastructure Sukuk
InfraZamin is pleased to partner with Sundridge Foods Limited to launch a PKR 2 billion agri-infrastructure sukuk. Sunridge Foods Limited, a subsidiary of Unity Foods Limited, will issue this Shariah-compliant…