Mystery shrouds Asad Umar’s resignation rumours

Finance Ministry statement rejects resignation news but admits that ‘healthy debates are a part of political culture’

SBP raises key interest rate by 150 basis points to 10%

Import growth declined to 5.8% during the first four months (July-October) of FY19 from 26.3% in the same period of last year, indicating an effect of recent tightening measures.

Govt loans from central bank soar to record high of Rs5.4 trillion

During July-September 2018, the federal government’s overall domestic debt rose to Rs16.9 trillion, increasing by 3% or Rs504 billion

Pakistan’s net international reserves stand at negative $4b, excluding IMF debt obligations

Till September 2018, SBP had obtained $7.22 billion from commercial banks in the aegis of forward and currency swap arrangements

Cabinet approves appointment of Arif Usmani as NBP CEO: Report

Mr Usmani has been serving at Mashreq Bank and his previous experience includes stints as global head of wholesale banking at Abu Dhabi Islamic Bank PJSC, managing director and country officer of Citibank NA Pakista

SBP issues ‘Security of Digital Payments’ for banks/MFB in the wake of recent cyber attacks

SBP on Wednesday issued “Security of Digital Payments’ in order to safeguard banks/MFBs and their customers from potential losses due to cyber-crimes and online banking frauds.

Japan’s Line ties up with Tencent, Mizuho; shares jump

Japanese retailers offering Line Pay services will be able to process payments from the growing numbers of Chinese tourists using Tencent’s WeChat Pay from early next year, Line said

BankIslami restores e-banking services

KARACHI: BankIslami on Monday announced that its payment system has been successfully restored and was running absolutely secured."All of the bank's services can now be...

Master Motors approaches MoIP, seeking assistance for PTM approval from PSM: Report

The letter stated the company needs to provide the land mortgage documents in favour of Faysal Bank against the financing sought as security

Govt mulling to appoint Arif Usmani as NBP CEO: Report

Mr Usmani has been serving at Mashreq Bank and his previous experience includes stints as global head of wholesale banking at Abu Dhabi Islamic Bank PJSC, managing director and country officer of Citibank NA Pakistan

Pakistan on course to finalize new anti-money laundering law

Under the SECP’s AML regime, the financial institutions in Pakistan are required to report suspicious transactions, currency transactions and fulfil record-keeping requirements, said Ms Habib

UBL to voluntarily wind-up its branch in New York

In July, UBL had been directed by Federal Reserve Bank of New York (FRBNY) to strengthen its anti-money laundering policies as the regulator criticized it for not doing enough to track dubious transactions

NAB yet to decide on inquiry of KASB amalgamation into BankIslami

Auditor general had framed allegations against SBP for causing a loss of Rs3.4bn through the merger SBP says no reason to consider fresh...

FIA instructs banks to bolster their cybersecurity in compliance with global standards

BankIslami admitted that a major amount had been transferred from it by the hackers based in 45 countries

KSE-100 index posts 7.8% YoY increase in profit for nine months of 2018

Profitability of KSE-100 index increased by 0.8% YoY during the third quarter of 2018

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PM likely to sack entire economic squad

Finance Minister Asad Umar, FBR chairman, SBP governor expected to be sent packing Energy minister Omar Ayyub likely to head finance ministry Finance...

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No duty payable on phones being used on roaming for less...

For these phones to be registered, Mr Azhar said it can be done at either the airports or in any of the Customs houses across the country and phones aren’t detained during the process of registration/duty payments