Gulf investors seek exit opportunity from Pakistan’s banking industry
LAHORE:Â After holding their positions for decades, a number of Gulf investors are looking for a suitable exit opportunity from the Pakistani banking...
MCB all set to acquire NIB Bank
MCB Bank has completed the due diligence for acquiring NIB Bank Limited. The acquisition is being made in order to scale-up operations...
IMF man to head State Bank of Pakistan
IMF's resident director for Egypt Dr Reza Baqir appointed as governor of central bank for three years
Dr Ahmed Mujtaba Memon...
Sima Kamil appointed UBL President & CEO
The Board of Directors United Bank Limited (UBL) on Monday announced the appointment of Sima Kamil as new Chief Executive Officer (CEO)...
HBL and Pakistan Post join hands to further financial inclusionÂ
ISLAMABAD: HBL and the Pakistan Post Office Department (PPOD) have entered into a 20-year strategic alliance with an investment portfolio of Rs118...
Bypassing SBP-Malik Riaz of Bahria Town to acquire Escorts bank
Malik Riaz of Bahria Town is all set to purchase 71% shares of Escorts Investment Bank Limited (EIBL) along with its management...
SBP’s informal ‘currency controls’ major hurdle in sale of Bank Alfalah, Meezan Bank and Faysal Bank
LAHORE:Â As foreign owners look to sell off their stakes in three major Pakistani banks to local buyers, the State Bank of Pakistan...
Habib Bank makes the pivot towards FinTech
Pakistan’s largest bank announces a big push into branchless banking, investments in technology infrastructure
Rupee second worst performing currency in the world
KARACHI: The Dollar today gained about 6.45 rupees in the interbank market as the interim government let the rupee slide deeper into...
Pakistani rupee, the cheapest currency in South Asia: Report
The International Monetary Fund (IMF) has currently projected Pakistan’s current account deficit will contract from 5.9 percent of GDP in 2018 (the worst in emerging markets) to 5.3 percent of GDP in 2019 (again the worst in EM)
Income tax exemptions for inward remittances be limited to Rs10m annually: SBP
ISLAMABAD: A presentation by State Bank of Pakistan to Senate Standing Committee on Finance suggested income tax exemption available for inward remittances...
Naeemuddin Khan resigns from BoP, govt mulling to appoint Citi banker as next NBP president
Atif Bukhari, Nadeem Lodhi, Arif Usmani, Wajahat Hussain and Javed Kureishi were shortlisted for the post of NBP president
After Standard Chartered, Bank Alfalah launches app for biometric verification
After the launch of a biometric verification app by the Standard Chartered Bank earlier this month, another leading bank from the finance...
Pakistan Banao Certificate targeting overseas Pakistani’s to be launched on 31st January
According to details shared by the Finance Minister Asad Umar, the certificates would be of two types, one of three years offering 6.25% return and the other with five-year maturity offering 6.75% return
SBP to cease issuance of Rs40,000 prize bonds from 15th Feb
The decision was taken to appease global watchdogs, who had doubts about the investment of black money via these bonds