IBP honors Khushhali Microfinance Bank’s president with fellowship
KARACHI: Ghalib Nishtar, President of Khushhali Microfinance Bank (KMBL), has been honored with the ‘Certificate of IBP Fellowship’ by the Institute of...
Arif Habib Ltd to guarantee $11mn for Power Cement Ltd
Arif Habib Corporation Limited intends to make an additional investment worth $11 million in Power Cement Limited, an associated undertaking of the...
Market Daily: KSE-100 gains 171.93 pts amid low volumes
LAHORE: The Pakistan Stock Exchange (PSX), after starting the trading session leaped up in the afternoon. Indices swayed in both directions until...
Pak share in world Islamic banking negligible 1%
KARACHI:Â The share of Pakistan-based Islamic banks in global Shariah-compliant banking assets stands at a meagre 1%, according to the State Bank of...
ING settles money laundering case with Dutch prosecutors for $900m
Dutch prosecutors said ING had failed at its gatekeeper duties, by sometimes not identifying the ultimate beneficial owners of accounts.
AMSTERDAM: Dutch prosecutors...
Market Daily: Bears roar as PSX starts week in red
LAHORE: It wasn’t an ideal start to the week, but investors didn’t look surprised. Long hanging uncertainty over the country’s economic situation has...
Supreme Court dismisses petition challenging merger of KASB-BankIslami
In July, SBP also disposed of all the objections raised by the shareholders regarding the amalgamation of the defunct KASB Bank into BankIslami
UAE bank adds Pakistan to ‘remit in 60 seconds’ service
Emirates Islamic says that its 60 second online fund transfer service QuickRemit is now available for remittances to Pakistan
Emirates Islamic has announced...
Sindh Bank shareholders approve swap ratio, scheme of amalgamation
The shareholders of Sindh Bank approved the swap ratio of 1: 8.37 i.e. one share of Sindh Bank equals to 8.37 shares...
Apna Microfinance Bank’s net income increases by 39pc
Apna Microfinance Bank Limited conducted its Board of Directors meeting on 31 August, where the board reviewed the financial results.
Based on the...
SECP’s Shariah Advisory Board approves Murabaha share financing product
ISLAMABAD: The Securities and Exchange Commission of Pakistan's (SECP's) Shariah Advisory Board (SAB) granted its approval to Murabaha share financing product proposed...
Pakistan’s foreign reserves stand at $16.685bn
KARACHI: According to data released by the State Bank of Pakistan (SBP), the total liquid foreign reserves held by the country stood...
NBP announces 46pc after-tax profit in half-yearly results
In a meeting of the Board of Directors (BoD) of National Bank of Pakistan (Bank) which was held on August 30, 2018,...
Market Daily: Indices in red as political uncertainty prevails
LAHORE: To add to the economic uncertainty came political trouble. As protestors march towards the Federal Capital Islamabad, investors sell at the...
CLSA Ltd returns to Pak after 17 years, buys minority stake in Alfalah securities
KARACHI: The Hong-Kong based CLSA, the CITIC Securities Company, entered into a joint venture with Bank Alfalah today, to buy a 24.9...