NdcTech modernizes the core banking platform for Samba Bank

NdcTech, a premium technology services firm transforming banks and financial institutions globally has successfully modernized the core banking system of Samba Bank onto the latest release of Temenos Transact. Samba Bank Limited is a subsidiary of Saudi National Bank (SNB) KSA in Pakistan, offering personal and corporate banking services, including current and savings accounts, loans investments and a host of digital services.… Continue

Tamasha launches its first original series, ‘Family Bizniss’,

Pakistan’s largest homegrown OTT platform, Tamasha, has launched its first-ever original series, “Family Bizniss”, in collaboration with Big Bang Entertainment. The launch event was recently held at the Jazz Digital Headquarters attended by Kaan Terzioglu, CEO of VEON Group; Aamir Ibrahim, CEO, Jazz; Aamer Ejaz, Chief Digital Officer, Jazz; and leading actor and producer of the series, Fahad Mustafa.… Continue

Bank Alfalah introduces Instant Credit Cards through Alfa App.

Bank Alfalah, one of the leading commercial banks in Pakistan, has announced Instant Credit Card (ICC). Instant Credit Cards offer a completely automated digital application journey that allows both liability and existing credit card customers to apply for a credit card, complete the screening and credit bureau checks, and receive approval in less than five (5) minutes.… Continue

The business week started with a mixed session at the PSX today.

·   The business week started with a mixed session at the PSX today. The benchmark KSE-100 index started in the red, but trends gradually shifted as the index traded both ways, as delayed review of the IMF’s Extended Fund Facility and ongoing political uncertainty kept investors at bay, resulting in a drop in volumes across the board.… Continue

This Ramzan care is just a tap away with easypaisa!

Channeling the true spirit of Ramzan, easypaisa, Pakistan’s leading payments & savings, lending and platform service, is enabling its customers to donate with ease and convenience to more than 30 charitable organizations across Pakistan.

During the holy month of Ramzan, easypaisa, the leading payments, savings, lending, and platform service in Pakistan, is embracing the true spirit of the occasion by providing its customers with an effortless and convenient way to donate to over 30 charitable organizations throughout the country.… Continue

HMB showed tremendous growth with PBT up by 28%YoY

Habib Metropolitan Bank Limited hosted a corporate briefing for CY22, today. Following are the key takeaways:

During the year, HMB showed tremendous growth with PBT up by 28%YoY, Advances up by 9%YoY, and Current deposits up by 14%YoY. The bank posted a highest-ever PAT of PKR14.3bn (EPS PKR13.61) against PKR13.5bn (EPS PKR12.84), showing a surge of 5.92%YoY coupled with a significant rise in interest earned by 81.4%YoY to clock in at PKR133bn in CY22 as compared to PKR73.3bn.… Continue

Indus Hospital & Childlife foundation sign MoU

Indus Hospital Health Network (IHHN) & ChildLife Foundation have signed an MoU, for both leading nonprofit health organizations to share best practices particularly Telemedicine. Moreover, both organizations will also collaborate and develop a mechanism for patient referral at each other’s facilities.… Continue

Engro Foundation recognises NDF, ConnectHear with IATC Impact Awards 2022

Engro Foundation, the social investment arm of Engro Corporation, has announced National Disability & Development Forum (NDF) and ConnectHear as the two recipients of I Am The Change (IATC) Impact Awards 2022.

Initiated in 2012, IATC is the flagship initiative of Engro Foundation to recognize and reward philanthropic and social enterprises that are creating an impact in the development sector.… Continue

Standard Chartered launches first sustainable trade export LC Programme.

Standard Chartered Bank (Pakistan) Limited (SCBPL) has launched Pakistan’s First Sustainable Trade Export LC Programme. SCBPL is supporting Louis Dreyfus Company (LDC) export cotton sourced through the world’s leading cotton sustainability certification programme, the Better Cotton Initiative (BCI). With Standard Chartered’s focus on helping companies accelerate to net-zero and closing funding gaps for sustainable and green finance in emerging markets, SCBPL was the bank of choice for LDC, given LDC’s own commitment to work towards a safe and sustainable future in Pakistan.… Continue

IMF never-ending demands are hitting Pakistan’s economy: Mian Zahid Hussain

On Friday, the Chairman of National Business Group Pakistan, President of Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said political instability and the endless power struggle had destroyed the economy. The political frictions have become a threat to national security, which has become at stake, he said.… Continue

The PSX concluded the week with a negative session

·   The PSX concluded the week with a negative session. The market started off in the red zone and continued to trade in the negative territory for the majority of the trading session, shedding 453.21 points during the day due to the prolonged SLA between the government and IMF to unlock 9th tranche of the Extended Fund Facility.… Continue

SBP reserves increased by US$ 280 million to US$ 4.598 billion

The total liquid foreign reserves held by the country stood at US$ 10,139.2 million as of 17-Mar-2023. The break-up of the foreign reserves position is as under:

  • Foreign reserves held by the State Bank of Pakistan: US$ 4,598.7 million
  • Net foreign reserves held by commercial banks    : US$ 5,540.5 million
  • Total liquid foreign reserves                 : US$ 10,139.2 million

During the week ended on 17-Mar-2023, SBP received US$ 500 million as GoP commercial loan disbursement.… Continue

AAA Associates promotes grass root level golf in Pakistan

AAA Associates has become the beacon of sports, especially golf, as it has sponsored multiple golf events nationwide. Its interest as a private sector leading vertical real estate development firm shows its passion for the revival of sports in Pakistan. In this context, AAA Associates organized a grand golfing event at Rawalpindi Golf Club in which hundreds of players participated. … Continue