Karachi, Pakistan: TouchPoint’s Cadepo – Cash & Cheque Deposit Solution has achieved a major regulatory milestone after meeting the State Bank of Pakistan’s (SBP) regulatory benchmark for Cash Deposit Machines (CDMs) authenticate and securely accept cash deposits from customers. TouchPoint currently has more than 600 devices across Pakistan banking network and has processed transactions exceeding […]
KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced the short-listing of six applicants for live testing under its Regulatory Sandbox, marking another step toward accelerating innovation in the country’s financial sector. The selected entities will pilot their proposed solutions across key areas including open banking, remote merchant onboarding, and technology-driven inward remittances, allowing […]
Karachi: United Bank Limited (UBL) has emerged as the largest listed company on the Pakistan Stock Exchange (PSX), overtaking Oil & Gas Development Company Limited (OGDC), which had held the top position for many years. During today’s trading session, UBL’s market capitalization crossed Rs 1,275 billion (approximately USD 4.5 billion), marking a major milestone for […]
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 […]