State Bank of Pakistan (SBP) has removed the Minimum Deposit Rate (MDR) requirement for all conventional banks on deposits from financial institutions, public sector enterprises, and public limited companies. The…
Bank Alfalah has entered into a strategic partnership with the Centre for Excellence in Islamic Finance (CEIF) at the Institute of Management Sciences (IMSciences), Peshawar. This collaboration aims to drive…
Bank Alfalah collaborates with the CEIF Institute of Management Sciences (IM Sciences) to drive progress in Islamic Finance. This alliance emphasises innovation, talent development, and sectoral growth by offering sponsorships…
Pak-Qatar Group (PQG), Pakistan's premier and pioneer Islamic financial services group, has signed a Memorandum of Understanding (MoU) with ILMA University, marking a significant step towards enhancing the talent pool…
National Bank of Pakistan, one of the largest issuers of debit cards in the country, has become the first commercial bank in Pakistan to sign a co-badging agreement with 1LINK…
By: Zubair Mughal, CEO, AlHuda CIBE Sukuk, commonly known as Islamic bonds, is a unique financial instrument in Islamic finance distinguished by its adherence to Shariah compliance. Unlike conventional bonds…
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, 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…
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, 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 (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…
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…
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…
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 (NASDAQ: PAYO), a global fintech leader empowering small and medium-sized businesses (SMBs) to expand globally, has reported its highest-ever Q3 revenue, reaching $248 million—a 25% increase year-over-year. With growth…
The total liquid foreign reserves held by the country stood at US$ 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, 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…
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, 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…
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, 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,…
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…
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, 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…
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,…