Banking spread shrinks to historic low
KARACHI: In a surprising development, the average banking spread shrank in February despite a hike in the benchmark interest rate at the...
PICIC Growth & Investment Funds to be converted into Open End Scheme
HBL Asset Management Ltd in its board meeting held on February 24, 2017 has decided to proceed with the conversion PICIC Investment...
Ali Allawala appointed CEO of Malaysia’s Standard Chartered Bank Islamic unit
Ali Allawala was named 'Best Islamic Consumer Banker in Pakistan 2015' by the Islamic Finance Awards
Sliding forex reserves: Pakistan obtains $450m loan from Credit Suisse
ISLAMABAD: To support dwindling foreign exchange reserves, Pakistan has borrowed $450m on a short-term facility from a Credit Suisse led consortium of...
Pakistan’s liquid foreign reserves increase
KARACHI: The State Bank of Pakistan (SBP) here Thursday said the total liquid foreign reserves held by the country stood at $16,798.0...
Market Daily: KSE 100 starts positive, increases by 381.10 points
LAHORE:Â The Pakistan Stock Exchange (PSX) marked a positive beginning to the week. The weekend brought in the news of a smooth transfer...
FIA registers fraud case of Rs55mn against 7 employees of private bank
DASKA:Â Federal Investigation Agency (FIA) has registered a Rs55 million fraud and embezzlement case against as many seven accused officials of a private...
SBP issues directives to banks regarding Assets Declaration Ordinance
KARACHI:Â The State Bank of Pakistan (SBP) on Wednesday issued directives to all banks to incline their operations to the newly-issued Assets Declaration...
HBL reinventing itself under new president
The HBL CEO aims to transform it into an IT company with a banking license
India directs state-owned banks to fix operational risks, gives 15-day deadline
NEW DELHI: India’s finance ministry on Tuesday set a 15-day deadline for state banks to take pre-emptive action against operational and technical...
Women empowerment– Sima Kamil finally assumes charge as first woman president of a major Pakistani bank
Sima Kamil who has been serving as deputy CEO United Bank Limited (UBL) will be assuming charge as CEO and president of...
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’...
SBP to cease issuance of Rs40,000 prize bonds from 15th Feb
The decision was taken to appease global watchdogs, who had doubts about the investment of black money via these bonds
Spotting the fake Quaid in M1
Sana Saif, a housewife, recently opened an account in Meezan Bank and made a visit to her branch, adjacent to her apartments,...
World Bank for updating Pakistan’s GDP
The government has agreed to a World Bank proposal to update the methodology and source of data for Pakistan’s GDP measurement and...