Telenor Microfinance Bank Receives In-Principle Approval to Establish a Digital Retail Bank ISLAMABAD  ( Web News ) Telenor Microfinance Bank, operator of Pakistan’s leading digital financial services platform, easypaisa, has received In-Principle Approval (IPA) for Digital Retail Bank (DRB) license from the State Bank of Pakistan (SBP) under the LicensingRead More →

Banks’ Post-Tax Profit Doubled To Rs 284 Billion In Six Months Of 2023: SBP Report ISLAMABAD  ( Web News ) The half-year post-tax profit of banks operating in Pakistan doubled and amounted to Rs 284 billion during the Jan-June 2023 period. In the corresponding period of the last year, banks’ post-taxRead More →

The Sensitive Price Index (SPI) was up by 3.73 per cent during the week ending Friday (July 28) The latest data comes as Pakistan’s central bank will likely raise its key interest rate again on Monday. The SPI covers 51 items put of which the prices of 20 increased, sevenRead More →

KARACHI ( Web News ) The State Bank of Pakistan released its third quarterly review of Payment Systems for the fiscal year 2022-23 Monday covering the period January to March 2023. Major highlights and comprehensive analysis on payments ecosystem is presented in the review. Increasing collaboration between banks and fintechRead More →

KARACHI (WEB DESK) Prominent UAE national, investor, and a longstanding friend of Pakistan, H.E. Nasser Abdulla Hussain Lootah (the “Investor“), has acquired a controlling stake in Summit Bank, a move that was recently approved by the State Bank of Pakistan, Securities and Exchange Commission of Pakistan, and Competition Commission ofRead More →

ISLAMABAD (WEB DESK) On International Women’s Day 2023, three female officers from the State Bank of Pakistan (SBP) shared their professional journeys and experiences. They also shed light on the status of women in the financial sector and SBP’s efforts to promote gender equality in the workplace. The dialogue highlightedRead More →

12 Banks Report Record Profit Of Rs 585 Billion In 2022 This Time And, In Fact, For The First Time, Meezan Bank Took The Lead Over All Other Leading Banks In Earning Profit In 2022. ISLAMABAD ( JAVED MAHMOOD ) In sharp contrast to the ongoing economic crisis in Pakistan,Read More →

ISLAMABAD (WEB NEWS) Governor State Bank of Pakistan(SBP), Mr. Jameel Ahmed, while appreciating the performance of Bank of Azad Jammu and Kashmir (BAJK)and the steps taken to achieve Scheduled Bank status, agreed in principle with the position of the SBP to issue the license to BAJK and said that theRead More →

ICCI slams hike in policy interest rate to 17 percent ISLAMABAD ( Web News ) Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) said that due to the current economic crisis and high prices of electricity, gas and petroleum products, the business community is already facing greatRead More →

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 →