SBP sets Nisab at Rs38,406 for deduction of Zakat

The State Bank of Pakistan has fixed Nisab for deduction of Zakat from specific bank accounts at Rs.38,406. The Zakat will be deducted from...

MCB, CSD sign MoU for Ramzan campaign

MCB Bank, “Pakistan’s Best Bank” (Euromoney and Finance Asia Awards, 2016), has entered into an alliance with Canteen Stores Department (CSD) for the facilitation...

UBL inaugurates state-of-the art ‘Branch of the Future’ in Karachi

Pakistan’s Best Bank 2016; inaugurated its first ‘Branch of the Future’in Karachi on 21 May 2017. Consistent with the bank’s progressive and innovative brand...

Faysal Bank announces new CEO, board members

The chairman and board members of Faysal Bank Limited (FBL) are pleased to announce the appointment of Yousaf Hussain as Acting Chief Executive of...

SBP reduces refinancing rates for loans to 2pc for entrepreneurs

Lending rates for small medium enterprises (SMEs) have been revised by the State Bank of Pakistan to 4pc. This move would encourage DFIs and...

ADB provides $ 20 million loan to increase micro credit access in Pakistan

The Asian Development Bank (ADB) has approved a $ 20 million loan to help Pakistan’s Khushhali Microfinance Bank (KMBL) to expand access to credit...

World Bank for updating Pakistan’s GDP

The government has agreed to a World Bank proposal to update the methodology and source of data for Pakistan’s GDP measurement and the project...

SBP keeps monetary policy rate unchanged at 5.75pc

The State Bank of Pakistan , on Saturday, announced to keep the monetary policy rate unchanged at 5.75pc for the next two months. The real...

Govt briefs WB on development and energy priorities for next fiscal

The finance team briefed the World Bank (WB) officials about the development priorities including the power sector during the next financial year, an official...

SBP issues updated version of Foreign Exchange Manual-2017

In order to facilitate the stakeholders including authorised dealers (banks), exporters, importers, travel agents, carriers, etc., the State Bank of Pakistan (SBP) keeps on...

SBP session on EIF held at RCCI

An awareness and interactive session on Electronic Import Form (EIF) was organised by the Rawalpindi Chamber of Commerce and Industry (RCCI) here on Friday....

Faysal Bank, Mashreq partner to provide QuickRemit

Faysal Bank one of the leading banks of Pakistan has partnered with Mashreq, a leading financial institution of UAE, to provide QuickRemit service to...

Nouman Ansari completes his tenure at Faysal Bank

President and Chief Executive Officer of Faysal Bank Nouman Ansari has stepped down from his position, media sources have reported. Ansari completed his tenure and was...

Bank Alfalah wins Best Loyalty and Rewards Program award at Mastercard MENA Leadership Forum...

Pakistan’s leading banking institution, Bank Alfalah has won the ‘Best Loyalty and Rewards Program Award’ for its Orbit Rewards Program at the 2017 MasterCard...

Bank of Punjab to raise Rs13b from right shares issue

The Bank of Punjab (BOP) has decided to do a right shares issue of around Rs13b, which will enable it to give out more...

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