Digital transactions account for 83% of total retail payments in Pakistan: SBP

Banks and EMIs processed 844 million retail payments amounting to PKR 128,470 billion during the quarter

Bank of Punjab approves expansion plan for Bahrain, UAE

The board gives go-ahead to establish a Wholesale Banking Unit in the Kingdom of Bahrain and a representative office in the United Arab Emirates

Govt considers blocking bank accounts of non-filers

Proposed changes include fixed sales tax on mobile imports and adjustments to advertising expense deductions

Changes to look out for in the banking sector for the next fiscal year

Banks to pay higher effective taxes as the government disallows provisions to be treated as expenses

Irfan Saleem Awan to lead Bank of Khyber as Acting MD

Awan currently holds the position of Senior Executive Vice President and Chief Financial Officer

Ithmaar Holding plans major stake transfer in Faysal Bank 

Ithmaar directly and indirectly through other group entities, holds a 66.7% stake in Faysal Bank Limited 

SBP allows Bank Alfalah to conduct due diligence of Samba Bank

Bank Alfalah intends to acquire up to 84.51% shares of the Samba Bank, held by Saudi National Bank. 

From profitable highs to equity injection calls, what went down with U Microfinance Bank in 2023?

The bank’s profitability has taken a hit post corrective measures initiated on SBP’s behest

The banking sector has been reaping the rewards of high inflation. Is their winning streak coming to an end?

Unchanged cost of funds coupled with declining yield on assets put pressure on bank’s income

Finance Minister hints at potential rate cut by SBP next month 

Finance Minister Muhammad Aurangzeb indicates probable interest rate reduction in June or July, citing a downtrend in inflation and positive outcomes of Saudi Arabia's recent visit
HBL Microfinance Bank

HBL approves equity investment of Rs6bn in its microfinance subsidiary 

Investment is fully aligned with all regulatory requirements and has received the nod from HBL’s shareholders

SECP issues certificate of incorporation to Bank of Punjab’s exchange company 

An application will be submitted to SBP for issuance of a license to commence operations of BOP Exchange (Private) Limited

SBP slaps over Rs775mn in fines on eight banks, one exchange company

Bank Alfalah faces highest fine of Rs187.652 million for violations in foreign exchange and general banking rules

Banking apps might get worse because of security concerns. How do you strike a balance?

Recent measures to enhance security have rendered mobile banking apps no longer convenient and accessible

Bank Alfalah intends to acquire 84.51% shares of Samba Bank

Saudi National Bank is the principal shareholder of Samba Bank Limited with 84.51%