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
Pakistan’s first blockchain-based cross border remittances service launched
The blockchain-powered remittance service will make round-the-clock, real-time money transfers between the two countries possible at a competitive exchange rate, with Alipay’s transaction fees waived during the one-year trial period
Commercial Bank of Dubai to take control of Abraaj assets secured against loan
Stakes in Abraaj’s Infrastructure and Growth Capital Fund, as well as its funds focused on Turkey, Latin America, North Africa, Africa and health, were held as security against CBD’s loans, a joint provisional liquidators’ report from July shows
World Bank President Jim Yong Kim resigns
WASHINGTON:Â World Bank Group President Jim Yong Kim will resign effective February 1, more than three years ahead of the expiration of his...
SBP likely to keep interest rates unchanged for remainder of FY18-19: Fitch Solutions
It warned from a long-term perspective, money and credit growth remain troublesome and indicate inflation pressures are probably going to remain fairly high
Kuwait reiterates request to Dubai to release $496 million frozen funds
DUBAI: Kuwait reiterated its request to Dubai to release $496 million in frozen funds held for over a year and belonging to...
Iran’s central bank proposes slashing four zeros from falling currency: IRNA
DUBAI: Iran’s central bank has proposed slashing four zeros from the rial, state news agency IRNA reported on Sunday, after the currency...
Cabinet to consider the summary of appointment of President/CEO ZTBL
The slot of President ZTBL Bank fell vacant after the termination of former President and CEO ZTBL Syed Talat Mahmood in October last year and the government had given the acting charge to Sheikh Aman Ullah
Iran approves anti-money laundering bill to ease foreign trade
Foreign businesses say Iran’s compliance with FATF standards and its removal from the organisation’s blacklist are essential if they are to increase investment, especially after reimposition of the U.S. sanctions on Tehran
Twelve-member delegation leaves for Sydney to attend 3-day FATF moot
According to the report, a total of 4,643 dubious transactions linked to money laundering and terror financing were unearthed and blocked since 2015
Government borrowing from SBP shoots up to Rs1.43 trillion in first half of FY18-19
Government borrowing from the central bank surged up five times to Rs1.43 trillion during the 1st half of FY18-19 compared to Rs288.09 billion in the same period of last year (SPLY)
SBP approves reappointment of Imran Maqbool as MCB’s CEO
Prior to joining MCB in 2002, he was associated with local banking operations of Bank of America (BoA) and CitiBank for over seventeen years
JCR-VIS revises outlook on HBL’s AAA rating to ‘stable’ from ‘negative’
KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Habib Bank Limited (HBL) at ‘AAA/A-1+’ (Triple A/A-One Plus).
In line...
MCB Bank partners with Bank Al Jazira to facilitate remittancesÂ
LAHORE: MCB Bank, one of Pakistan's largest and most innovative banks, has entered into an agreement with leading Saudi financial institution, Bank...
PTCL injects Rs4bn in U Microfinance Bank
KARACHI:Â Pakistan Telecommunication Company Limited (PTCL) has signed an agreement for Rs4 billion Unsecured Subordinated Debt Facility (Tier 2 capital) with U Microfinance...