The Board of Directors of Pakistan Stock Exchange Limited (PSX) elected Ruhail Mohammad as Chairman of the Board for the remainder of the current term, following a board meeting. The appointment was made in accordance with applicable legal and regulatory requirements to fill the vacancy created by the passing of former Chairperson Dr. Shamshad Akhtar. […]
KARACHI: The HBL Pakistan Manufacturing PMI, compiled by S&P Global, edged up to 52.8 in December, rising from 52.3 in November and marking the highest reading since February. The reading reflects a solid rise in production alongside stronger demand, with new orders accelerating at their fastest pace since March. Respondents linked the uptick to business […]
Global digital operator VEON Group has announced an investment of USD 20 million in Mobilink Bank to support its growth and digital Islamic banking expansion in Pakistan. The investment builds on USD 15 million capital deployed by VEON in January 2025 and underscores its confidence in Mobilink Bank’s growth momentum and its integrated digital financial […]
KARACHI: Pak-Qatar Family Takaful Limited (PQFTL) has been listed on the Pakistan Stock Exchange (PSX) after an overwhelming response from the investors during the Initial Public Offering (IPO). This historic milestone and response from investors underscored PQFTL’s exceptional financial resilience, strategic foresight, and unwavering commitment to Shariah-compliant excellence. It marks a new benchmark not only […]
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL), the parent company of U Microfinance Bank Limited (U Bank), has approved a capital injection of Rs 15 billion (approximately USD53 million) into the Bank, one of the largest equity injection transactions in the industry. The capital injection is intended to support U Bank’s sustained growth trajectory and the […]
Saquib Ahmad has assumed the role of Global Chief Growth Officer at Systems Limited, one of Pakistan’s largest software firms. In this capacity, he will focus on accelerating international growth, strengthening market presence, and advancing strategic expansion across both established and emerging markets, the company said in a statement released on Thursday. “With more than […]
ISLAMABAD: JazzCash has crossed 57 million customers, underscoring the rapid adoption of digital payments in Pakistan as the government accelerates its push toward a cashless economy. The digital financial services platform said its expanding merchant ecosystem, now comprising more than 850,000 Raast-enabled QR merchants, has emerged as a key enabler of the Prime Minister’s cashless […]
Karachi: The State Bank of Pakistan (SBP) has launched Pakistan’s Financial Inclusion Index (P-FII), a comprehensive measure designed to assess the level of financial inclusion across the country by evaluating access to, usage of, and the quality of financial services. According to the inaugural results, Pakistan’s overall financial inclusion level stood at 58.1 in 2024. […]
Islamabad: Pakistan marked a major milestone on Tuesday with the launch of its first-ever private-capital-funded Pakistan Skills Impact Bond (PSIB), backed by a Rs1 billion guarantee from the Ministry of Finance, aimed at transforming the country’s approach to technical skills development. The inaugural Rs1 billion pilot tranche forms part of a three-year Skills Impact Bond […]
Karachi, Tuesday — Pakistan’s digital payment ecosystem continued its rapid expansion in the first quarter of FY26, with mobile app-based transactions reaching 2 billion, accounting for over 80% of all digital payments, according to the State Bank of Pakistan’s (SBP) First Quarterly Payment Systems Review of FY26 released on Tuesday. The report revealed that retail […]