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...
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
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...
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...
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
Noor Financial to divest 5.96% stake in Meezan Bank
In August, according to a notice filed on the exchange, Meezan Bank Limited announced that Noor Financial Investment divested 0.85% of its shareholding
Easypaisa facilitates customers with bio-metrically verified swift, secure transactions
KARACHI: Pakistan’s first and foremost branchless banking platform Telenor Microfinance Bank’s Easypaisa is helping its customers make safe and secure financial transactions...
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.
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...
SBP introduces framework to counter trade-based money laundering and terrorist financing
The central bank also told banks to enhance the oversight role of the board of directors and senior management in the areas of ML/TF/PF risks associated with trade transactions
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.
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...
Twitterati tells Meezan Bank to ‘Netflix and chill’
Meezan Bank recently disallowed
the payment for Netflix application, calling it “non-Shariah compliant”.
The bank’s decision has left many of its customers, who...
A bank sold for just Rs1,000. Does it make any sense?
Profit demystifies the controversy over the sale of KASB Bank