KARACHI: The State Bank of Pakistan (SBP), as part of its Vision 2028 initiative, has announced the official launch of the Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+), which will go live on June 16, 2025. The new system is a major upgrade to the country’s National Digital Payments Infrastructure. PRISM+ is built on the […]
Finance Minister Muhammad Aurangzeb presented the Federal Budget in the Parliament House today for the fiscal year 2025-26. The total federal budget outlay is Rs 17.6 trillion. Key Features: Tax on Dividend remained unchanged at 15 percent FED on the allotment or transfer of commercial and residential plots is proposed to be abolished (previously 3 […]
KARACHI: June 6, 2025 — JR Dallas Tech Fund, the premier private investment arm of JR Dallas Wealth Management, announced a groundbreaking $10 million commitment to globally recognized technology leaders Mehwish Salman Ali and Malik Mudassir to spearhead an exclusive U.S.-focused startup investment initiative. Transformative $10 Million Investment Empowers Global Tech Leaders Under this landmark […]
Source: Business Recorder Finance Minister Muhammad Aurangzeb unveiled the Pakistan Economic Survey 2024-25 on Tuesday, recapping the annual report on the country’s economic progress for the outgoing financial year. Pakistan missed its GDP growth target of 3.6% in the outgoing fiscal year, posting a figure of 2.7%, revealed the Economic Survey 2024-25. According to the provisional figures […]
KARACHI: Halan Microfinance Bank (“the Bank”), a Pakistani microfinance bank owned by MNT-Halan, Egypt and the MENA region’s first fintech unicorn, has received a national license from the State Bank of Pakistan, allowing it to expand outside Sindh to the rest of the country. The national license permits the Bank to launch and manage financial […]
Raqami Islamic Digital Bank has entered into a strategic agreement with Visa, the world leader in digital payments, to launch its card portfolio and enable secure, digital-first payment solutions tailored to underserved populations across Pakistan. Announced at a signing ceremony held at Raqami’s Head Office in Karachi, the collaboration marks a major milestone in Raqami’s […]
Karachi, Pakistan – June 5, 2025 — The National Bank of Pakistan (NBP) has reached a significant milestone, crossing Rs. 100 billion in total outstanding loans secured against gold. This achievement highlights the Bank’s rapidly growing Gold Loan portfolio, which caters to both the agriculture and consumer segments across the country. With over 173,000 active […]
In a major leap toward financial inclusion and digital transformation, Codebase Technologies has successfully enabled the Pilot launch of Raqami Islamic Digital Bank, taking an important step toward becoming Pakistan’s first fully Shariah-compliant digital retail bank. This milestone marks a defining moment in the country’s financial sector evolution and aligns seamlessly with the State Bank […]
In a groundbreaking step toward intelligent banking, Bank AL Habib has partnered with C Square and wAI Industries to implement a next-generation customer experience (CX) transformation. The initiative is powered by Genesys Engage and Alara Conversational AI Agents, marking the first AI-driven contact center ecosystem in Pakistan. At the core of this transformation is a […]
Source: Business Recorder KARACHI: Allied Bank, one of Pakistan’s leading commercial institutions, has announced a strategic partnership with Paysys Labs, a pioneer in next-generation payment technologies, to pilot the Interledger Protocol (ILP) for seamless cross-border transactions. As part of this groundbreaking collaboration, Paysys Labs has also secured the prestigious Digital Financial Services Grant from the […]