Islamic finance growing rapidly: Sindh governor
Sindh Governor Muhammad Zubair said that Islamic finance has been growing rapidly in not only Muslim countries but also in non-Muslim countries.
Addressing...
SBP governor meets top leadership of commercial banks, sets future policy
KARACHI
State Bank of Pakistan (SBP) Governor, Tariq Bajwa presided his first meeting with the presidents/chief executive officers of all commercial banks here...
China’s short-term money rates fall, prompting talk of more easing
The move pushed the volume-weighted average rate of China’s benchmark seven-day repo, a closely-watched liquidity gauge, to 1.4 percent on Tuesday, its lowest level since July 2015
Bank Alfalah posts PBT of Rs8.47bn, EPS of Rs3.04
KARACHI
The Board of Directors of Bank Alfalah Limited approved the bank’s half yearly, unaudited financial statements, for the period ended June 30,...
Currency circulation rose despite imposition of WHT on banking transactions, says: SBP
Karachi: The enforcement of withholding tax on banking transactions hasn’t prevented the cash economy from flourishing, said State Bank of Pakistan in...
Overseas Pakistanis remit $8bn up by 1.2pc in July-Nov 2017-18
KARACHI: Overseas Pakistani workers remitted $ 8021.18 million, which is up by 1.2 per cent in the first five months (July to...
Amazon contemplating entering financial sector with a checking-account like product
NEW YORK: Amazon.com Inc, the world’s largest online retailer, is in talks to create a checking-account-like product with big banks such as...
Wall Street eyes more gains from Apple, its $1 trillion stock
NEW YORK: Shares in Apple Inc edged higher on Friday but stayed close to the $1 trillion valuation milestone the iPhone maker reached...
Foreign reserves held by SBP fall by $342mn
The total liquid foreign reserves held by the country stood at $16,369.7 million on 31 August 2018, according to the State Bank...
ADB recognises 2 Pakistani banks among 20 others in TFP Awards
ISLAMABAD
The Asian Development Bank (ADB) recognised two Pakistani banks, among 20 others in its third annual Trade Finance Programme (TFP) Awards, said...
SBP revises guidelines on outsourcing arrangements
Karachi: The State Bank of Pakistan (SBP) has revised the ‘Guidelines on Outsourcing Arrangements’ with the objective of enabling financial institutions (FIs)...
NBP’s China branch opening faces delays as capital shortage looms
Islamabad: Following HBL’s lead, National Bank of Pakistan’s (NBP) recent indictment by the Supreme Court over a pensions related case has left...
Micro-finance sector recorded 47.3pc growth in its portfolio till December 2016
Islamabad: The microfinance sector witnessed 47.3 percent growth in its aggregate micro-credit portfolio, which grew to Rs136.9 billion till December (2016-17) compared...
Daniyal proposes amendment in loans for Agriculture, Commercial and Industrial Purposes Act 1973
ISLAMABAD: Minister for Privatisation Daniyal Aziz stressed the need for revisiting the Loans for Agriculture, Commercial and Industrial Purposes Act 1973, which...
China’s central bank to reduce reserve requirement
BEIJING: China’s central bank announced Sunday it would reduce the reserve requirement ratio (RRR) for most banks by 50 basis points to...