FN Pakistan Staff

Bank Alfalah Strengthens Qist Bazaar with PKR 55M Equity and PKR 460M Credit Facility to Fuel Its Expansion

Bank Alfalah Strengthens Qist Bazaar with PKR 55M Equity and PKR 460M Credit Facility to Fuel Its Expansion

Karachi, Pakistan – Bank Alfalah, one of Pakistan’s leading financial institutions, has strengthened its commitment to financial inclusion by increasing its investment in Qist Bazaar, the country’s rapidly growing buy-now-pay-later (BNPL) platform. This move aims to facilitate essential purchases for individuals through minimal and easy instalments. As part of its latest funding round, Bank Alfalah…

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HBL Microfinance Bank and IFC Sign $80 Million Risk Sharing Agreement to Boost Financial Inclusion in Pakistan

HBL Microfinance Bank and IFC Sign $80 Million Risk Sharing Agreement to Boost Financial Inclusion in Pakistan

Karachi, Pakistan – In a landmark move to expand financial access for smallholder farmers and microenterprises, HBL Microfinance Bank (HBL MfB) has signed an $80 million Risk Sharing Agreement with the International Finance Corporation (IFC), a member of the World Bank Group. This strategic partnership aims to empower small businesses, with a particular focus on…

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1LINK (Pvt) Limited Onboards Halan Microfinance Bank as a Primary Member

1LINK (Pvt) Limited Onboards Halan Microfinance Bank as a Primary Member

1LINK, Pakistan’s leading payment system, has officially onboarded Halan Microfinance Bank as a primary member on its network. The signing ceremony marked a significant step towards enhancing digital financial services and was attended by senior leadership from both organizations. Present at the occasion were Mr. Najeeb Agrawalla, CEO of 1LINK, and Mr. Christos Stefano, President…

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ABL reports Rs 43,116 million net Profit and Surpassing Rs 2 Trillion in Deposits

ABL reports Rs 43,116 million net Profit and Surpassing Rs 2 Trillion in Deposits

Karachi: Allied Bank Limited (ABL) has demonstrated remarkable financial growth in 2024, with significant improvements in profitability, asset expansion, and customer-centric innovations. The bank successfully navigated challenging market conditions, reinforcing its industry leadership. Financial Performance Overview ABL reported a 5% increase in markup income, reaching Rs 376,760 million in 2024, compared to Rs 357,307 million…

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HBL Microfinance Bank Partners with ETI-GB to Boost Financial Access for Rural Farmers

HBL Microfinance Bank Partners with ETI-GB to Boost Financial Access for Rural Farmers

Gilgit-Baltistan, Pakistan – HBL Microfinance Bank (HBL MfB) has signed a strategic agreement with the Economic Transformation Initiative, Gilgit-Baltistan (ETI-GB), to expand financial inclusion for rural farmers in the region. The collaboration aims to enhance access to finance, empowering small-scale farmers and agribusinesses. The Gilgit-Baltistan Rural Support Program (GBRSP) will serve as the implementing partner…

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AutoSoft Dynamics Partners with Azeemi Technologies at LEAP 2025 to Revolutionize Banking in Saudi Arabia

AutoSoft Dynamics Partners with Azeemi Technologies at LEAP 2025 to Revolutionize Banking in Saudi Arabia

Riyadh, Saudi Arabia – February 2025 – AutoSoft Dynamics, a subsidiary of Constellation Software Inc. (CSI), has taken a significant step toward expanding its presence in Saudi Arabia by signing a teaming agreement with Azeemi Technologies. The agreement, formalized on the first day of the LEAP 2025 technology conference, aims to introduce cutting-edge banking solutions…

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PTCL Group Reports Strong Financial Performance for 2024, Achieves 17% Revenue Growth

PTCL Group Reports Strong Financial Performance for 2024, Achieves 17% Revenue Growth

Islamabad, February 12, 2025 – Pakistan Telecommunication Company Limited (PTCL) has announced its financial results for the year ending December 31, 2024, showcasing a stellar performance with double-digit revenue growth of 17%. The PTCL Group continues to solidify its position as the country’s leading integrated telecom service provider. PTCL Group Key Financial Highlights PTCL Group…

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Faysal Bank Partners with Alliance Network to Revolutionize Digital Payments for SMEs

Faysal Bank Partners with Alliance Network to Revolutionize Digital Payments for SMEs

Karachi, Pakistan – Faysal Bank Ltd. (FBL), a leading Islamic bank in Pakistan, has entered into a strategic partnership with Alliance Network to transform digital payment acceptance for small and medium-sized enterprises (SMEs). This collaboration aims to expand Pakistan’s digital payment infrastructure, enabling businesses to embrace cashless transactions and enhance their growth through innovative financial…

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SECP Grants License to Pakistan’s First Fully Digital Brokerage House: Tamkeen Securities (Pvt) Ltd

SECP Grants License to Pakistan’s First Fully Digital Brokerage House: Tamkeen Securities (Pvt) Ltd

Islamabad – The Securities and Exchange Commission of Pakistan (SECP) has granted a license to Tamkeen Securities (Pvt) Ltd, making it the country’s first fully digital, online-only securities broker. This milestone marks a significant step in modernizing Pakistan’s capital markets, enhancing accessibility, and democratizing investment opportunities for retail and institutional investors nationwide. According to an official…

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85% of Pakistan’s B2B Transactions Still Cash-Based: Visa Report

85% of Pakistan’s B2B Transactions Still Cash-Based: Visa Report

Karachi – Visa (NYSE: V), a global leader in digital payments, has released a whitepaper emphasizing the benefits of digitizing SME payments, identifying over $121 billion worth of SME B2B transactions in Pakistan primed for digital transformation. Umar S. Khan, Country Manager for Pakistan & Afghanistan at Visa, highlighted the critical role of SMEs in the…

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