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
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...
Consumers lose money amid falling demand for old 100-dollar bills
Moneychangers, banks exploiting situation as regulator looks the other way
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...
SECP adopts three AAOIFI Shariah Standards
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has notified the adoption of three Shariah Standards of the Accounting and Auditing...
What happened at Habib Bank in New York?
The Grand Central Terminal in New York is, by some measures, the largest train station in the world, covering 48 acres in...
How HSBC went kaput three times trying to establish a presence in Pakistan’s banking sector
LAHORE: Many foreign banks have forayed into Pakistan’s banking sector with aplomb in the last few decades, namely Citibank, Barclays, HSBC, Crédit...
Banking sector in shambles over a plausible cyber-attack
MCB, ABL, other major banks reassure customers’ safety, SBP certifies only Bank Islami was affected
SBP clarifes Rs 500 notes without OVI flag legit
The State Bank of Pakistan (SBP) has clarified the authenticity of Rs 500 Banknote amidst a controversy circulating in certain sections of...
BankIslami becomes victim of $6.5 million cyber-attack
Transactions of approximately $6 million as claimed by the international payment scheme have been denied by the bank.
Careem brought with it a boom in auto lending for the banks. Then came the interest rate hikes
Muhammad Irfan started his rental car business in 2015 with just one used car. Then came Careem and Uber and the boom...
Is Dewan Yousuf serious or will he hoodwink everyone yet again?
The Group faces a serious credibility crisis as it turns down offers for its cement plants for the umpteenth time – even the lucrative Mega offer – raising doubts about its intent to sell and settle the default.
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.
A bank sold for just Rs1,000. Does it make any sense?
Profit demystifies the controversy over the sale of KASB Bank
Financial inclusivity: Where does Pakistan stand?
Pakistan is a lower middle-income economy, located in the heart of South Asia, with a GDP estimated at $284 Billion (2016), and...