Pakistan’s mystery billionaire

“He’s the Howard Hughes of Pakistan. Nobody ever sees him. You’re the first ones (among journalists) who are going to witness him in the...

Four banks fined Rs186m over non-compliance of AML laws

ISLAMABAD: The State bank of Pakistan, for the first time in its history, has imposed Rs186 million fine on four banks owing to non-implementation of...

CDNS unearths largest-ever ‘scam’ of Rs200 million

Internal control weaknesses, lack of reconciliation of data held in manual and computerized database led to the discovery of this fraud

SBP’s informal ‘currency controls’ major hurdle in sale of Bank Alfalah, Meezan Bank and Faysal Bank

LAHORE: As foreign owners look to sell off their stakes in three major Pakistani banks to local buyers, the State Bank of Pakistan (SBP) is...

PTI finalises a revamped version of PML-N’s youth loan scheme

ISLAMABAD: The Imran Khan led Pakistan Tehreek-e-Insaf (PTI) government has decided to launch a revamped version of the Prime Minister's youth loan scheme, initiated by...

NBP partners with WorldRemit for digital money transfers to Pakistan

Using the WorldRemit app, Pakistanis living in over 50 countries can send money directly from their smartphones to NBP cash pickup locations WorldRemit...

Half-Year Results: MCB Bank posts 14pc growth in profit before tax

The bank maintains industry's highest quarterly payout of Rs4 per share The Board of Directors of MCB Bank Limited met under the chairmanship...

From JazzCash to Cashless – Hacker steals money from retailers’ mobile accounts

In a recent development that could undermine the government and private sector’s efforts towards financial inclusion, a fraudster siphoned off Rs15 lacs from 22...

Possible fraud causes banks to disable int’l ATM transactions

So far no other bank has reported any cyber attack or fraudulent activity within their accounts.

FBR seeks info of account holders having deposits above Rs0.5m

The Federal Board of Revenue (FBR) has acquired from the State Bank of Pakistan (SBP) information about bank account holders having deposits above Rs0.5...

Expats allowed to operate bank accounts without biometric verification

ISLAMABAD: The State Bank of Pakistan (SBP) has allowed the expatriates to continue operating their bank accounts in the country without biometric verification after proving...

Bank Alfalah denies reports of it being sold

Senior journalist, Syed Talat Hussain had claimed that "Russia" is buying Bank Alfalah.

Pak share in world Islamic banking negligible 1%

KARACHI: The share of Pakistan-based Islamic banks in global Shariah-compliant banking assets stands at a meagre 1%, according to the State Bank of Pakistan (SBP)...

SBP to announce bi-monthly new monetary policy tomorrow

The bank had hiked policy rate by 150 basis points to 10pc in November last year   The State Bank of Pakistan (SBP) would announce its...

HBL posts Rs9.9bn profit before tax in first half 2019

HBL on Wednesday declared a consolidated profit before tax of Rs9.9 billion for the six months ended June 30, 2019, with earnings per share...

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FBR issues notices to 3,950 non-filers in Lahore

LAHORE: The Federal Board of Revenue's Broadening of Tax Base (BTB)-Lahore has issued notices to some 3,950 people who did not declare their assets despite...

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Intel launches first artificial intelligence chip Springhill

JERUSALEM: Intel Corp on Tuesday launched its latest processor that will be its first using artificial intelligence (AI) and is designed for large computing...