SBP’s reserves increased by US$ 3 million
The total liquid foreign reserves held by the country stood at US$ 13,796.2 million as of 11-Nov-2022. The break-up of the foreign reserves position is as under:- Foreign reserves held…
Faysal Bank appreciates the government’s intent to make Pakistan interest-free.
The announcement from the Ministry of Finance last week that it will advise the State Bank of Pakistan and National Bank to withdraw their appeal against the Federal Shariat Court's…
AlfaMall offers zero percent markup on the world’s biggest shopping day
On the world's biggest shopping day, 11.11, AlfaMall, Bank Alfalah's e-commerce marketplace for customers and merchants, has pledged a seamless user experience with its 'Buy Now, Pay Later feature. This will enable…
Govt move for interest-free banking system lauded: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday lauded the decision of the…
Workers’ remittances fall in October 2022
Workers' remittances recorded an inflow of US$2.2 billion during October 2022, says a statement issued by State Bank of Pakistan today. During October 2022, remittances decreased by 9.1 percent on…
Pakistan’s liquid foreign reserves position declined
The total liquid foreign reserves held by the country stood at US$ 13,721.0 million as of 04-Nov-2022. The break-up of the foreign reserves position is as under:- Foreign reserves held…
State Bank of Pakistan organized a Sustainable Banking Conference
The State Bank of Pakistan organized a Sustainable Banking Conference, in collaboration with IFC, a member of the World Bank Group, today in a local hotel in Karachi. The objective…
SBP and FIA to take joint action against illegal foreign exchange operators
A high-level meeting was held between the Governor, State Bank of Pakistan (SBP) and the Director General, Federal Investigation Agency (FIA) on November 8, 2022. The meeting took stock of…
Visa Program unlocks new opportunities in the Creator Economy
Creators are driving a revolution in digital commerce and culture – producing content that entertains, engages, and educates online communities in powerful new ways. To serve this growing category of…
Faysal Bank launches donation payments feature via WhatsApp
Faysal Bank Limited as part of its digital transformation journey has introduced a new innovative feature of Donation Payments via its WhatsApp banking channel. Faysal Islami WhatsApp Banking enables its…
MMBL’s 9-Point agenda 2.0 delivers impactful and sustainable policy interventions
Pakistan's largest digital bank, Mobilink Microfinance Bank Limited (MMBL), has recently launched the 2nd edition of its 9 Point Agenda for Financial Inclusion, a policy document aimed at fostering digital financial…
NBP honored as the Best Bank from Pakistan at World’s Best Bank Awards 2022
The National Bank of Pakistan has won the Best Bank Award in Asia-Pacific for 2022 as Global Finance announced its 29th Annual Best Bank Awards. Global Finance regularly selects the…
Hefazat Technologies partners with Pak-Qatar Takaful and Salaam Takaful for customer purchase protection
Insurance is a mechanism that can facilitate social mobility by allowing individuals and families to overcome shocks that can affect their wealth and future income-generating capacities. The possibility of accessing…
Jubilee Life Insurance wins AsiaMoney Award 2022
Jubilee Life Insurance, the largest private sector insurer in Pakistan, has extended its list of special acknowledgements with the Asia Money Award 2022. AsiaMoney is a prestigious platform that adjudges…
Faysal Bank delivers exuberant performance – registers PKR 1 trillion landmark
The Board of Directors of Faysal Bank Limited (FBL), in their meeting held on October 27, 2022, approved the financial statements of the Bank for the nine months ended September…
Meezan Bank to finance Solar Panels System for Indus Hospital
Meezan Bank- Pakistan's leading Islamic bank has donated Rs. 35 million to Indus Hospital & Health Network for installation of a solar panels system. The initiative is part of the…
SBP’s reserves decreased by US$ 157 million – ADB $1.5 bn would be reflected next week
The total liquid foreign reserves held by the country stood at US$ 13,162.2 million as of 21-Oct-2022. The break-up of the foreign reserves position is as under:- Foreign reserves held…
BankIslami posts 194% growth in operating profits before provisions for the 9MCY 2022
BankIslami Pakistan Limited ('the Bank' or 'BankIslami') announced its financial results for the quarter ended September 30, 2022. For nine months, BankIslami closed operating profits before provision at Rs. 7.79 Bn,…
Standard Chartered Pakistan delivers record operating profit for Q3-2022
Profit before tax of PKR 36.4 billion, up 98 per cent year on year Overall revenue growth of 70 per cent Healthy increase in total assets of 11 per cent…
SBP suspends the authorization of an exchange company of ‘B’ Category
State Bank of Pakistan has suspended, with immediate effect, the authorization of an Exchange Company –B, namely M/s Mega Currency Exchange Company –B (Pvt) Limited, till further orders due to…
JazzCash and Paymob partner to expand digital payment acceptance in Pakistan
Paymob, the leading omni-channel payments facilitator in MENAP, and JazzCash, Pakistan's leading Fintech and part of VEON Group, announce their partnership to expand digital payments acceptance in Pakistan. JazzCash mobile…
In Q3 2022 MCB continued its growth momentum and registered increase of 35% in PBT
The Board of Directors of MCB Bank Limited (MCB) in its meeting under the Chairmanship of Mian Mohammad Mansha, on October 26, 2022, reviewed the performance of the Bank and…
MCB Bank announced a DPS of PKR 5.00.
MCB announced earnings (PAT) today for 9MCY22 at PKR 20.6bn (EPS: PKR 17.4), depicting a decrease of 10% YoY | rise 304% QoQ (3QCY22 EPS: PKR 7.8). The jump in…
United States and Khushhali Microfinance Bank sign $25 million commitment to empower women and micro and small businesses
The United States government, through the U.S. International Development Finance Corporation (DFC) and the U.S. Agency for International Development (USAID), launched a new partnership with Pakistan's leading financial institution Khushhali…
Meezan Bank announces financial results for the 3Q2022
The Board of Directors of Meezan Bank, in its 100th Board meeting held on October 19th, 2022 approved the financial statements of the Bank for the nine months period ended September…