Falling remittances: SBP to seek LEAs assistance to control money laundering
Karachi: State Bank of Pakistan (SBP) is said to be seeking the help of law-enforcement agencies (LEAs) to curb the menace of...
Bank valuations not to be impacted by apex court decision
LAHORE: The decision on Tuesday by the Supreme Court to increase minimum rate of pension to Rs8,000 per month for banks won’t...
SBP issues Shariah compliant long-term financing facility for exporters
KARACHI: In order to provide a Shariah-compliant alternative of conventional Long Term Financing Facility (LTFF) to meet the long-awaited demand of exporters,...
Commercial banks foreign currency deposits rise in anticipation of rupee devaluation
KARACHI: An increase of US$1.2billion has been reported in foreign currency deposits of commercial banks in a period of last four months....
Mobile broadband fosters digital financial services
Mobile account ownership in Pakistan has witnessed a reasonable increase and crossed the 39 million mark, which was 15 million at the...
SBP sets Nisab at Rs38,406 for deduction of Zakat
The State Bank of Pakistan has fixed Nisab for deduction of Zakat from specific bank accounts at Rs.38,406. The Zakat will be...
IDB committed to enhancing economic cooperation with Pakistan
ISLAMABAD:Â Islamic Development Bank (IDB) President Dr Bandar M H Hajjar said on Thursday that the bank would extend all possible cooperation for...
Three candidates shortlisted for Bank of Punjab’s president slot
ISLAMABAD:Â The Punjab government has shortlisted the candidates against the vacant position of Bank of Punjab (BoP) president.
Sources said that former National Bank...
Being put on FATF list, may spike up banks foreign transaction costs
KARACHI: Pakistani banks could see a major spike in costs of their foreign transactions if the country is put on the international...
Bank Al-Habib expands into Kenya, opens representative office
LAHORE:Â Bank Al-Habib Ltd in an attempt to tap into the multibillion-dollar international transaction business in its first investment in Africa, has been...
Signature Bank becomes next casualty of banking turmoil after SVB
State regulators closed New York-based Signature Bank (SBNY.O)Â on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered...
Pakistan receives second $1bn Saudi tranche
Earlier, the State Bank of Pakistan (SBP) in November had received $1 billion from Saudi Arabia.
Market Daily: Bears dominate end of week as PSX loses 129.60 points
LAHORE: Pakistan Stock Exchange (PSX) managed to end the week in red as bears dominated the session on Friday.
As per reports of...
FBR extends super-tax on banks for FY 2017-18
ISLAMABAD: Federal Board of Revenue (FBR) has extended the enforcement of super-tax on banking companies for financial year 2017-18.
And FBR issued SRO...
Commercial Bank of Dubai to take control of Abraaj assets secured against loan
Stakes in Abraaj’s Infrastructure and Growth Capital Fund, as well as its funds focused on Turkey, Latin America, North Africa, Africa and health, were held as security against CBD’s loans, a joint provisional liquidators’ report from July shows