China won’t resort to massive stimulus but more easing seen: central bank adviser
To ward off a sharp slowdown, China has unveiled a raft of policy measures this year, including four rounds of reserve requirement ratio cuts to boost lending, along with lower taxes and fees, and moves to fast-track infrastructure projects
Noor Financial completes divestment of 1.35% stake in Meezan Bank
Earlier, this month Meezan Bank had informed the bourse of Noor Financial being in initial stages of talks with foreign institutional buyers to divest 5.96% of its shareholding in the bank
FIA alleges bank tried to conceal hacking incident: Report
Minister of State for Revenue Hammad Azhar on Friday told the Senate that hackers had stolen $6 million from the accounts of 6,000 BankIslami customers within 23 minutes last month
NAB likely to cut out names of accused from ECL in KASB-BankIslami case
LAHORE: Prime Minister Imran Khan has directed authorities to consider taking off names of four accused in the KASB Bank merger case,...
Govt mulling reducing withholding tax rates on banking transactions: Report
In several documents, the government admitted the levying of withholding tax is a huge obstacle to the growth of the banking sector
BankIslami lost $6m within 23 minutes in cyber attack
Finance Minister Asad Umar says according to SBP, no other bank had reported hacking of customers' data
Pakistan receives second $1bn Saudi tranche
Earlier, the State Bank of Pakistan (SBP) in November had received $1 billion from Saudi Arabia.
SBP reserves shrink by $242m, stand at $7.2bn
The total liquid foreign reserves held by the country stood at $13.7 billion on December 7, 2018.
According to a statement issued by...
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
Pakistan remittances growth to remain flat at 6.2% in 2018: World Bank
Pakistan’s remittances as a percentage of GDP was 6.9% in 2018, ranked at 3rd behind Nepal at 30.1% and two positions above India at 2.8%
Rupee regains Rs1.87 against greenback in inter-bank trading
But the bank officials firmly believed that SBP had intervened in the inter-bank market and the rupee’s recovery against the dollar was artificial and short-lived
Mystery shrouds Asad Umar’s resignation rumours
Finance Ministry statement rejects resignation news but admits that ‘healthy debates are a part of political culture’
SBP raises key interest rate by 150 basis points to 10%
Import growth declined to 5.8% during the first four months (July-October) of FY19 from 26.3% in the same period of last year, indicating an effect of recent tightening measures.
Govt loans from central bank soar to record high of Rs5.4 trillion
During July-September 2018, the federal government’s overall domestic debt rose to Rs16.9 trillion, increasing by 3% or Rs504 billion
Pakistan’s net international reserves stand at negative $4b, excluding IMF debt obligations
Till September 2018, SBP had obtained $7.22 billion from commercial banks in the aegis of forward and currency swap arrangements