Karachi, Pakistan – The State Bank of Pakistan (SBP) has announced the selection of Avanza Solutions as its strategic technology partner through a rigorous bidding process. This collaboration aims to enhance SBP’s operational efficiency and modernize its technological infrastructure, reinforcing the central bank’s commitment to delivering robust financial services. Avanza Solutions, a recognized leader in […]
Islamabad, August 22, 2024 — Pakistan has taken a significant leap towards integrating into the Arab-world payments ecosystem with the launch of the Buna-Raast Connectivity Project’s Implementation Phase. Prime Minister Mian Muhammad Shehbaz Sharif inaugurated the project, which will link Raast, Pakistan’s instant payment system, with Buna, the Arab Monetary Fund’s cross-border payment system. This […]
Islamabad: The State Bank of Pakistan (SBP) has announced plans to introduce a new series of currency notes, ranging from Rs 10 to Rs 5,000, by the end of December 2024. The announcement was made by SBP Governor Jameel Ahmed during a briefing to the Senate Standing Committee on Finance. Governor Ahmed informed the committee, […]
Karachi, — Allied Bank Limited (PSX: ABL) has reported its highest-ever quarterly profit after tax, posting earnings of Rs. 12.5 billion for the second quarter of the calendar year 2024 (2QCY24). This represents a 25 percent year-on-year (YoY) increase and a 7 percent quarter-on-quarter (QoQ) rise, according to data released today. The record earnings for […]
Lahore, August 21, 2024 – In a significant move towards advancing the digitization of local government services, Zindigi—Powered by JS Bank—signed a series of Memorandums of Understanding (MOUs) with Waste Management Companies across Punjab today. The landmark event was held in Lahore, with Punjab Minister for Local Government, Zeeshan Rafiq, serving as the chief guest. […]
Islamabad, August 20, 2024 – In a move set to significantly enhance agricultural financing across Pakistan, NRSP Microfinance Bank and Fauji Fertilizer Company Limited (FFC) have signed a Memorandum of Understanding (MOU). The agreement, formalized at FFC’s Head Office, underscores a strategic partnership aimed at providing innovative financial solutions tailored to the needs of farmers […]
Karachi, Pakistan – BankIslami Pakistan Limited, a leading Islamic bank in the country, has announced a strategic collaboration with Euronet Pakistan, a division of the US-based Euronet Worldwide (NASDAQ: EEFT), a global leader in payment processing and transaction services. The partnership aims to enhance BankIslami’s Debit Cards and ATM driving services, introduce innovative payment products, […]
Islamabad, JazzCash, Pakistan’s leading fintech platform, has announced the launch of its groundbreaking feature, ‘Tap-Pay for Businesses,’ aimed at transforming the way businesses across the country handle payments. This new feature enables over 350,000 businesses to accept payments effortlessly through their Android smartphones using NFC technology. With ‘Tap-Pay for Businesses,’ merchants can now receive payments […]
Lahore, Pakistan – August 20, 2024: PostEx, one of Pakistan’s leading fintech companies, has announced the successful completion of a US$7.3 million pre-Series A funding round. The round was led by Conjunction Capital, a global venture capital firm focused on technology investments. Additional participants included new investors Dash Ventures and Sanabil500, alongside existing investors VSQ, […]
August 20, 2024 – BenchMatrix, a leading management consulting firm known for its expertise in risk management, compliance, and governance, has successfully implemented its proprietary RiskNucleus Compliance Risk Management Solution at ASA Microfinance Bank (Pakistan) Limited. This strategic deployment is set to digitally transform the bank’s operations, enhancing efficiency, regulatory compliance, and adherence to best […]