LAHORE ( Web News ) The Bank of Punjab (BOP) held the launch Ceremony of BOP e-Business Qarza for SMEs today at BOP’s Head office, in Lahore. BOP e-Business Qarza is an End to End (E2E) Digital Lending Program for Existing BOP customers. Via this digital product, BOP aims toRead More →
KARACHI ( Web News ) Meezan Bank, Pakistan’s leading Islamic bank and Pakistan Mortgage Refinance Company (PMRC), a Mortgage Liquidity Facility set up by the State Bank of Pakistan, have recently inked a Master Musharakah agreement to support and promote affordable housing finance in the country. Under this agreement, PMRC will provide fiveRead More →
KARACHI ( Web News ) Pakistan’s central bank has imposed a penalty of slightly over Rs290 million on six commercial and Shariah-compliant banks for violating banking regulations related to foreign exchange, asset quality and general operation in the quarter ended September 30, 2022. All six are well-known banks including theRead More →
RCCI urges State Bank of Pakistan to open letters of credit RAWALPINDI ( Web News ) The Rawalpindi Chamber of Commerce and Industry (RCCI) has demanded the State Bank of Pakistan to open letters of credit. RCCI President Nadeem Rauf has said in a statement that despite the lifting ofRead More →
KARACHI ( Web News ) Meezan Bank and Samba Bank in collaboration with the Embassy of Pakistan in Bahrain hosted a reception at the Gulf Hotel, Manama – Bahrain by inviting prominent Non-Resident Pakistanis and customers to celebrate the success of Roshan Digital Account (RDA) in Pakistan. Dr. Murtaza SyedRead More →
LAHORE ( Web News ) After successfully obtaining the In-Principle Approval from the State Bank of Pakistan for an Electronic Money Institution (EMI) license, YAP Pakistan has now entered into a strategic partnership with Faysal Bank to introduce digital financial services through the Fintech Express program. Faysal Bank’s Fintech ExpressRead More →
Monetary Policy Committee of SBP decides to raise the policy rate by 150 basis points to 13.75% ISLAMABAD ( Web News ) At Monday’s meeting, the Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP) decided to raise the policy rate by 150 basis points to 13.75 percent. ThisRead More →
Easypaisa launches in-App Biometric Verification ISLAMABAD ( Web News ) Easypaisa, the country’s leading digital payments App, has introduced an innovative feature that enables users to upgrade their mobile wallet accounts through in-app biometric verification. A key regulatory requirement, Biometric Verification System (BVS) also enhances users’ daily, monthly and yearlyRead More →
KARACHI ( Web News ) Finance Minister Miftah Ismail on Wednesday announced that the three-year term of Dr Reza Baqir as the governor of the State Bank of Pakistan (SBP) has come to an end, ruling out any extension for the PTI appointee. In a tweet today, Ismail said thatRead More →
Current Account Deficit declines sharply in February ISLAMABAD ( Web News ) The current account deficit fell sharply in February, 2022 to $0.5bn, the lowest in FY22 and only one-fifth the level in January, a data released by State Bank of Pakistan (SBP) said on Saturday. The data shows thatRead More →
SBP’s increased communication regarding its monetary policy, its linkage with the problems of common man, and the accountability of its performance regarding inflation targeting, before the parliament: Experts LAHORE/ISLAMABAD ( Web News ) A consultative meeting on “State Bank of Pakistan’s autonomy, credibility and inflation expectations” was held here atRead More →
UBL Buying 55% Shares Of Telenor Microfinance Bank, Gets Go-Ahead From SBP For Due Diligence The UBL management has shared this development with its shareholders and the Pakistan Stock Exchange (PSX) to fulfill a regulatory requirement. ISLAMABAD ( JAVED MAHMOOD ) United Bank Limited is in the process to acquireRead More →