Foreign reserves declined by $537.8m this week
KARACHI: Total liquid foreign reserves of the country declined by $537.8 million to $20.830 billion this week compared to $21.368 billion last...
IMF to incorporate Islamic finance to market surveillance in 2019
Islamic finance, which bans interest payments and pure monetary speculation, is estimated to have over $2 trillion of assets globally and is offered in over 60 countries, according to the IMF
Supreme Court dismisses petition challenging merger of KASB-BankIslami
In July, SBP also disposed of all the objections raised by the shareholders regarding the amalgamation of the defunct KASB Bank into BankIslami
SBP rejects media reports, says data of only one bank hacked
The State bank of Pakistan (SBP) has ‘categorically’ rejected the reports circulating in the mainstream media that the data of most banks...
SBP launches M-Wallet scheme to promote home remittances
'Remittance can now be received directly in M-wallets and there is no requirement to visit a bank branch, fill forms or stand...
SME Bank privatisation attracts investors’ attention
More than 10 investors have expressed interest in acquiring up to 93.88pc stake in the loss-making state-owned SME Bank Limited, media sources...
Riaz Riazuddin appointed acting governor SBP
The federal government has appointed Riaz Riazuddin as acting governor of the State Bank of Pakistan on Sunday.
Riaz Riazuddin has been currently...
HBL granted ‘member’ status under SCO IBA Framework
KARACHI: Habib Bank Limited (HBL) is proud to be officially granted the status of a member bank, during the 14th council meeting of...
SBP develops governance framework for overseas operations of banks
LAHORE: Amid the increasing scrutiny in which financial transactions within and outside the country take place, especially with Pakistan's placement in the...
Bank Islami rubbishes claims of receiving financial assistance from SBP
KARACHI
Bank Islami Pakistan Limited (BIPL) clarified in a statement filed in the stock exchange that it did not receive any financial assistance...
Barclays, PayPal announce partnership, as big banks mull big tech threat
LONDON: British bank Barclays and digital payments firm PayPal have announced a partnership that will see them explore ways to combine their...
Turkey central bank ready to take ‘all necessary measures’ for stability
ISTANBUL: Turkey’s central bank on Monday announced it was ready to take “all necessary measures” to ensure financial stability after the collapse...
BYCO floats first-ever AAA rated private sector Sukuk
Byco Oil Pakistan Limited (“BOPL”) has successfully issued its first privately placed Sukuk for Rs 3,120 million, reported a national daily.The issue,...
SBP issues updated version of Foreign Exchange Manual-2017
In order to facilitate the stakeholders including authorised dealers (banks), exporters, importers, travel agents, carriers, etc., the State Bank of Pakistan (SBP)...
BOK earns record profit of Rs.2 bn, announces 15pc cash dividend
The Bank of Khyber’s (BOK) operational performance demonstrated a record improvement in all areas for the year 2016. The bank managed to...