Noor Financial sells 2.49 percent stake in Meezan Bank to foreign investors
Earlier this month Noor Financial Investment Company (Noor) had sought State Bank of Pakistan’s (SBP) approval for divestment of 9.59 percent of its 49.1 percent stake in Meezan Bank Limited
Dollar spikes to Rs118.7 in kerb market amid supply constraints
KARACHI: The State Bank of Pakistan’s stipulation for submission of identification proof before buying and selling of foreign currency more than $500...
Meezan Bank signs MoU with VPL for importing UD Trucks in Pakistan
KARACHI: Meezan Bank, Pakistan’s first and largest Islamic bank has recently signed a Memorandum of Understanding (MoU) with VPL Limited – a...
SBP to announce fiscal policy for two months on Friday
ISLAMABAD: The State Bank of Pakistan (SBP) will announce the fiscal policy for next two months on Friday.
As per a statement issued...
Ali Allawala appointed CEO of Malaysia’s Standard Chartered Bank Islamic unit
Ali Allawala was named 'Best Islamic Consumer Banker in Pakistan 2015' by the Islamic Finance Awards
NIC mandatory for buying/selling above $500: SBP
Exchange companies have expressed fears with the latest restriction, illegal traders would engage most of the sellers, which may lead to tightening of dollar supply in the kerb market.
US, EU investors interested in buying combined 9.59 percent stake in Meezan Bank
The other major shareholders in Meezan Bank are Islamic Development Bank and Pakistan Kuwait Investment Co
Chairman Bank Alfalah commits investment in digital, stays ambiguous over reports of potential sale
Bank Alfalah Limited Chairman Sheikh Nahayan Mabarak Al Nahayan neither confirmed reports regarding the sale of Bank Alfalah nor denied them while committing further investments in the IT and digital arm of the bank.
Market Daily: KSE 100 sheds 4.52pc, highest weekly loss in 2018
KSE 100 closed at 41,624 points (-4.52 per cent WoW), highest weekly loss of 2018 amidst depleting foreign reserves and rising political noise ahead of general election 2018.
Kenyan digital payment company planning to open operations in Pakistan
Till March this year, 10 percent of the transactions or $24 million being handled by BitPesa included countries in Asia
Third launch ceremony for Pakistan Banking Awards held in Karachi
One new category for “Best Emerging Bank” has been added while the name of the category “Best Bank for Corporate Finance and Capital Market Development” has been changed to “Best Investment Banking”; while all other award categories remaining the same
Kuwait’s Noor Financial receives offer to divest part of Meezan Bank
LAHORE: Noor Financial Investment Company (Noor) has sought State Bank of Pakistan (SBP) permission for divestment of 9.59 percent of its 49.1...
SBP governor ensures low-cost housing finance policy
The financial sector is instrumental for the national development of the country. The role of institutions contributing to this sector in various forms need to be not only highlighted; but also duly acknowledged
Breaking the legacy mindset of large commercial banks
While up-and-coming players tap into new segments like mobile wallets, big players seem content with their decades-old business model that revolves around taking deposits and investing in risk-free securities.
Basir Shamsie to helm JS Bank as President and CEO
LAHORE: JS Bank’s board of directors have appointed Basir Shamsie as the new President and CEO of the bank replacing the former...