Pakistan Banao Certificate targeting overseas Pakistani’s to be launched on 31st January
According to details shared by the Finance Minister Asad Umar, the certificates would be of two types, one of three years offering 6.25% return and the other with five-year maturity offering 6.75% return
Pakistan receives final instalment of $1 billion from Saudi Arabia
A statement from the Prime Minister’s Office in October last year said Saudi Arabia had agreed to deposit $3 billion for a period of one year as a balance of payment support
SBP introduces framework to counter trade-based money laundering and terrorist financing
The central bank also told banks to enhance the oversight role of the board of directors and senior management in the areas of ML/TF/PF risks associated with trade transactions
Mobile broadband fosters digital financial services
Mobile account ownership in Pakistan has witnessed a reasonable increase and crossed the 39 million mark, which was 15 million at the...
Chinese banks’ forex settlement deficit narrows in Dec
BEIJING:Â China's commercial banks reported a drop in their forex settlement deficit in December, official data showed.
Forex purchases by banks stood at 1.14...
‘Pakistan to achieve target of record exports this year’
PM's adviser says despite unfavourable circumstances, the economy is moving on the right track, with current account deficit still being a...
KP govt committed to facilitating oil and gas explorers
PESHAWAR:Â Khyber Pakhtunkhwa (KP) Chief Minister Mahmood Khan on Saturday assured all-out support to address the issues of Khyber Pakhtunkhwa Oil and Gas...
ABAD lauds resumption of high-rise constructions in Karachi
SC had lifted its ban on high-rise construction on 11th Dec 2018; however, Sindh govt took more than one month to...
Pace of credit growth in Pakistan’s banking sector to slow, NPLs to rise: Fitch Solutions
Its projected loan growth at 13% in 2018, down from a forecast 15% in 2018, said the research agency
HBL’s Muhammad Aurangzeb becomes Pakistan Banks’ Association chairman
Habib Bank Limited President and CEO Muhammad Aurangzeb has been unanimously elected as the Pakistan Banks’ Association (PBA) chairman, following the completion...
Zimbabwe plans new currency as dollar shortage bites
HARARE: Zimbabwe will introduce a new currency in the next 12 months, Zimbabwe finance minister said, as a shortage of United States...
Bank of China to enable payment in yuan on US e-commerce platforms: Xinhua
BEIJING: Bank of China’s New York branch will enable Chinese firms to receive payment in yuan rather than dollars from their sales...
Three candidates shortlisted for Bank of Punjab’s president slot
ISLAMABAD:Â The Punjab government has shortlisted the candidates against the vacant position of Bank of Punjab (BoP) president.
Sources said that former National Bank...
SBP declared best central bank for promoting Islamic finance
KARACHI:Â State Bank of Pakistan (SBP) has won the global award as the best Central Bank in promoting Islamic finance for the year...
SBP rebuffs news regarding 18 undeclared PTI bank accounts
KARACHI:Â State Bank of Pakistan (SBP) categorically denied a news item, which attributed the central bank of reporting "at least 18 undeclared bank...