SECP issues fresh guidelines on anti money laundering, terror financing

ISLAMABAD: As Pakistan needs to meet conditions of the Financial Action Task Force (FATF) by June 2019, the Securities and Exchange Commission of Pakistan (SECP)...

FATF asks Pakistan to document, regulate gold markets

The Financial Action Task Force (FATF) has asked Pakistan to track, document, and regulate all gold markets in a bid to crackdown against terror...

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...

FBR rejects revising tax rates for non-filers withdrawing cash over Rs 50,000

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday refuted reports regarding revising the tax rates for non-filers withdrawing cash worth over Rs 25,000.In a...

Banks’ deposits grow 8.79pc in January

ISLAMABAD: The bank deposits of scheduled banks have surged by 8.79pc, as it increased from Rs12,002,239 million in January 2018 to Rs13,057,570 million in the...

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)...

Transactions through e-banking channels touched Rs47.4 trillion in FY18: SBP

The number of local e-commerce merchants registered with banks reached 1,094 and consumers carried out 3.4 million online e-commerce transactions valuing Rs 18.7 billion

Three candidates shortlisted for Bank of Punjab’s president slot

ISLAMABAD: The Punjab government has shortlisted the candidates against the vacant position of Bank of Punjab (BoP) president.Sources said that former National Bank of Pakistan...

ZTBL fails to publish financial statements for two straight years

ISLAMABAD: The federal government's policy to appoint foreign professionals on important positions is not yielding the desired results, as officials seem reluctant to come to...

Pakistan receives final instalment of $1 billion from Saudi Arabia

A statement from the Prime Minister’s Office in October last year said Saudi Arabia had agreed to deposit $3 billion for a period of one year as a balance of payment support

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

ADB, UNDP renew pact to accelerate progress towards sustainable development

WASHINGTON: The Asian Development Bank (ADB) and the United Nations Development Programme (UNDP) signed a five-year memorandum of understanding (MOU) to accelerate progress towards sustainable...

Al Baraka Bank forms alliance with Honda Atlas to facilitate auto-finance

Al Baraka Bank Pakistan Ltd. (ABPL) has recently signed a Strategic Alliance Agreement with Honda Atlas Cars Ltd. Through this venture, Al Baraka aims...

SBP declared best central bank for promoting Islamic finance

KARACHI: State Bank of Pakistan (SBP) has won the global award as the best Central Bank in promoting Islamic finance for the year 2018. The...

Three major banks are up for sale. Who will buy them?

For the first time in Pakistani history, three perfectly healthy and viable banks are simultaneously up for sale. None of them is a distressed...

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