Withholding tax collection on profit from government securities nosedives 25%

During July-January of current FY19, the collection of withholding tax from banking deposits soared 221% and counterbalanced the fall in tax collection from profit on government securities

BankIslami pioneers Pakistan’s first ‘OneTouch Banking’ solution

With the growing prevalence of technologically advanced solutions within the Pakistani banking industry, BankIslami has set the benchmark for the industry with its OneTouch...

Bank lending for ‘real economy’ key to boost China growth: central bank official

China’s banks made the most new loans on record in January following a series of moves to boost lending as authorities try to prevent a sharp slowdown in the world’s second-largest economy

Total external debt & liabilities soar to $99.1 billion by end of December 2018

During the first half (July-December) of FY19, the government procured $11.3 billion loans from several countries compared to $8.6 billion till the end of June last year

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...

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

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...

SME financing by banking industry reaches historic level of Rs500bn

Growth in SME financing was more prominent in the last six months of 2018, wherein it registered an increase of 25pcISLAMABAD: Small and...

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)...

Diaspora bond sale rakes in $1 million in less than two weeks

PBC is attracting demand majorly from expatriates residing in the United States and Europe

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...

Govt officially appoints Arif Usmani as NBP CEO

Mr Usmani had 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.

MCB reports Rs21.36bn profit after tax

LAHORE: The Board of Directors of MCB Bank Limited met under the Chairmanship of Mian Mohammad Mansha on Wednesday to review the performance of 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...

Cabinet to consider the summary of appointment of President/CEO ZTBL

The slot of President ZTBL Bank fell vacant after the termination of former President and CEO ZTBL Syed Talat Mahmood in October last year and the government had given the acting charge to Sheikh Aman Ullah

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Air France mulls returning to Pakistan after 11 years: minister

Petroleum Minister Ghulam Sarwar Khan revealed on Friday that after witnessing a conducive business environment, Air France was planning to resume its service in...

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Samsung announces folding phone with 5G at nearly $2,000

All of the Galaxy series of rigid phones except the 5G will be available from March 8, with the S10+ priced from $1,000, the S10 priced from $900 and the smaller S10e from $750.