Govt to issue debit cards for public sector enterprises to streamline cash management
Move aims to address petty cash issues, promote formal banking channels and shut down informal channels like Hawala and Hundi
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 BankÂ
Ithmaar directly and indirectly through other group entities, holds a 66.7% stake in Faysal Bank LimitedÂ
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.Â
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 monthÂ
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 approves equity investment of Rs6bn in its microfinance subsidiaryÂ
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 companyÂ
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