UAE’s BUNA payment system to expand, including new currencies
The UAE-based BUNA, a cross-border payment platform, is set to broaden its reach by incorporating currencies from Pakistan, India, China, and various...
The rate cycle has pulled the plug on private credit. Is there any recourse?
High policy rate deter private sector borrowing while banks divert liquidity towards government securities
High profits expected for banking sector on back of interest rate
Bank Alfalah has registered an increase of 123% in EPS since last year. Others may see similar growth
Driven by historic growth in deposits, MCB posted highest ever Profit Before Tax of Rs. 125.2bn (+75%) for the year 2023
The Board of Directors of MCB Bank Limited (MCB) in its meeting under the Chairmanship of Mian Mohammad Mansha, on February 06,...
India Froze Paytm Bank after years of warnings about data flows
India’s banking regulator stunned the finance and tech industries by abruptly suspending much of digital giant Paytm’s business late Wednesday. But the surprise...
Pakistan’s reserves drop by $54mn, mainly due to external debt payments
Net reserves held by banks (excluding the SBP) dropped by $25mn during the week, reaching $5.046bn
SBP maintains policy rate at 22%, citing high inflation
SBP governor says real interest rate remains “significantly” positive on a 12-month forward-looking basis, hinting at a potential rate cut in the coming months
SBP unveils plans for new currency notes with enhanced security features
The upcoming banknotes will showcase novel serial numbers, designs, and heightened security measures
SBP levies fines on 10 banks for regulatory violations
SBP has directed all implicated banks to promptly address the identified issues and conduct internal inquiries regarding regulatory violations
Banks continue process of establishing exchange companies
After Meezan Bank, Faysal Bank receives a certificate of incorporation from the SECP for its exchange subsidiary
Monetary Mayhem: Consequences of flushing the economy with money supply
SBP’s latest OMOs indicate towards the govt’s never-ending appetite for deficit financing through fresh money
Blowing hot and cold: banks and the government at loggerheads over windfall tax
Banks retaliate to 40% additional income tax on foreign exchange which could have generated a revenue of more than Rs 40 billion for the cash-strapped government
‘Shared e-KYC’ introduced for banks, as PBA and SBP move towards more open banking
The SBP has advised banks to join a shared e-KYC platform, which will use blockchain technology to store and share customers’ identity information across the banking industry
UBank’s strategy makes a sharp U-turn
Latest financials reveal UBank’s balance sheet shrinking at the same pace with which it grew
UBank puts speculations to rest with healthy Rs5bn equity
U Microfinance Bank releases long-awaited half-yearly report with 2022 figures restated