SBP signs memorandum of understanding with Nepal Rastra Bank

The memorandum of agreement signed on Thursday will enhance bilateral relationship and sharing of information to accomplish convergence towards common modalities and standards in...

Breaking the respectability glass ceiling: Malik Riaz’s bid to acquire a bank turned down yet again

The primary regulator of capital markets, Securities and Exchange Commission of Pakistan (SECP) has asked the Pakistan Stock Exchange (PSX) on Thursday to “immediately...

ABL follows suit after MCB, performs below expectations

Allied Bank Limited (ABL) has announced its annual results for CY16 and has reported a Net Profit after Tax (NPAT) of Rs 14.7 billion,...

Global body for Islamic Finance proposes standard for centralized Sharia boards

The proposed rules come at a time when Islamic banks are trying to widen their appeal to consumers in core markets of the Middle...

High provision charges cause MCB’s results to fall below expectations

Muslim Commercial Bank (MCB) has posted consolidated Net Profit after Tax (NPAT) of Rs 22.1 billion for the CY16. This is 11.4 percent decline...

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 control and...

SBP governor directs banks to focus on agriculture credit

  State Bank of Pakistan Governor Ashraf Mahmood Wathra has urged the banks to understand the needs of the economy and focus on agriculture financing...

BOP writes off Rs1589.3 million worth of loans

The Bank of Punjab has provided details of names of beneficiaries with the written-off amounts to the Punjab Assembly on Wednesday from July 2008...

5 ZTBL officials fake as ghost farmers to steal millions of government funds

Five official workers namely Khushdil Khan, Binyamin Khan, Zari Gul, Sajjad Mehmood and Mohammad Fayyaz of Zarai Taraqiati Bank (ZTBL) have been alleged to...

From JazzCash to Cashless – Hacker steals money from retailers’ mobile accounts

In a recent development that could undermine the government and private sector’s efforts towards financial inclusion, a fraudster siphoned off Rs15 lacs from 22...

NADRA-MasterCard Agreement suspended

Interior Minister Chaudhry Nisar Ali Khan has suspended the NADRA-MasterCard agreement saying that the deal was made without seeking prior written government permission and...

SBP looking into NADRA-MasterCard agreement over concerns of possible breach of security of national database

The State Bank of Pakistan (SBP) has decided to look into a newly signed agreement between MasterCard - an online payment processing company and...

Pakistan seeks help to set up institution for financing development

Pakistan is seeking the support of international financial institutions (IFI) to set up a new institution to facilitate long-term investment for infrastructure projects, an...

Strong deposit growth bodes well for Pak banks

  Deposits at Pakistan’s commercial banks reached Rs11.2 trillion as of December 30, 2016, some 20.4 per cent year-on-year growth in deposits compared to the...

NIB-MCB merger process hits a snag

Former employee obtains legal injunction Singapore government-owned Temasek Holdings likely to approach Pakistani government to protect its investmentsA former employee of NIB Bank,...

Popular News

Air France mulls returning to Pakistan after 11 years: minister

Petroleum Minister Ghulam Sarwar Khan revealed on Friday that after witnessing a conducive business environment, Air France was planning to resume its service in...

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Samsung announces folding phone with 5G at nearly $2,000

All of the Galaxy series of rigid phones except the 5G will be available from March 8, with the S10+ priced from $1,000, the S10 priced from $900 and the smaller S10e from $750.