Assets of Islamic banks up 9.1pc
KARACHI: During the last quarter of 2017, Islamic banking industry’s assets grew 9.1 per cent (Rs189 billion) to Rs2.272 trillion, compared to Rs2.083...
Bank of China permitted to establish clearing & settlement facility
KARACHI: The Bank of China on Wednesday was granted permission by the central bank to establish a domestic Chinese yuan (CNY) clearing...
Remittances reach $1.69 bn in March, rising 22pc from Feb
KARACHI:Â According to the data released by the State Bank of Pakistan (SBP), overseas workers remitted $1.69 billion in March, which is up...
SECP notifies new AAOIFI shariah standards for public consultation Â
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has fast-tracked the adoption of Shariah standards to bring about harmonisation and standardisation...
Shareholders of listed companies to submit bank account details in 45 days
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has given 45 days to shareholders of listed companies to provide relevant details...
ICAP urges govt to bring all sectors of economy to tax-net
ISLAMABAD:Â The Institute of Chartered Accountants of Pakistan (ICAP) recommends that the government bring all sectors of the economy to the tax-net, irrespective...
Foreign reserves decline by $174mn
Karachi: Foreign reserves held by the State Bank of Pakistan (SBP) decreased by $174 million to $11,602 million during the week ended March 30,...
Swiss bank whistleblower arrested in Spain
MADRID: Spanish police have arrested a former employee of HSBC’s Swiss private bank who was convicted of industrial espionage after leaking clients’...
Govt considering proposal to tax ‘gifts’ among non-family members
LAHORE: A tax to be levied on gifts given to non-family members by taxpayers is under the federal government's consideration, reported a...
Govt decreases borrowing from SBP
LAHORE: Government's borrowing from State Bank of Pakistan (SBP) was lower at the end of the third quarter of the current fiscal...
Tax rates for banks should be reduced in 2018-19: PBA
KARACHI: Pakistan Banks’ Association (PBA) has demanded from the government to delete Section III (4) of the Income Tax Ordinance 2001 and the...
‘Eighteen’ goes international with a grand launch event at Burj Khalifa
DUBAI:Â With its offices already positioned in Emaar Square, Dubai; Eighteen invited all the overseas Pakistanis along with the local business communities of...
Government lacks legitimacy to announce budget this month: experts
ISLAMABAD: As the government has decided to announce the budget for next financial year 2018-19 by the end of this month, experts...
KASB Securities revived, plans to connect global capital with local growth companies
KARACHI:Â Khadim Ali Shah Bukhari (KASB) Securities Private Limited organised a Technology Investment Conference in Karachi to mark the launch of their brokerage...
Pakistan’s mystery billionaire
“He’s the Howard Hughes of Pakistan. Nobody ever sees him. You’re the first ones (among journalists) who are going to witness him...