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
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