KARACHI: In a significant milestone for Pakistan’s financial sector, the State Bank of Pakistan (SBP) has awarded the first restricted license for pilot operations to Mashreq Bank Pakistan Limited (MBPL). The announcement was made during a special meeting attended by the SBP Governor, Deputy Governor, and senior executives, along with the Board and senior management […]
Neem, a leading financial wellness platform, has announced its strategic partnership with Wackenhut, Pakistan’s premier cash-in-transit (CIT) vehicle provider for banking and financial institutions. Through this collaboration, Neem is enabling access to earned wages for Wackenhut’s 2,500 security guards nationwide, marking a significant milestone in financial inclusion for frontline workers. Empowering Security Guards with Financial […]
Pakistan, Karachi – 21 February 2025: HBL, Pakistan’s leading bank, has partnered with Ahya Technologies, a Pakistani company specializing in AI-powered climate software, to accelerate its journey towards net-zero emissions by 2030. This collaboration underscores HBL’s commitment to sustainability, in line with the Aga Khan Development Network (AKDN) goals. This partnership provides HBL access to […]
Karachi, Pakistan – Faysal Bank Limited (FBL) has continued its strong financial trajectory in 2024, demonstrating resilience and operational excellence in its second year as a full-fledged Islamic bank. The bank reported a Profit Before Tax (PBT) of PKR 50.4 billion, reflecting a 22% year-on-year increase compared to PKR 41.4 billion in the previous year. […]
Islamabad, Pakistan – In a significant step towards digital financial inclusion, JazzCash, Pakistan’s leading fintech organization, has partnered with Pakistan International Airlines (PIA) to facilitate digital payments for flight bookings. This collaboration is set to benefit JazzCash’s 48 million customers, particularly those in rural and semi-urban areas who have limited access to traditional banking services. […]
Islamabad– Prime Minister Muhammad Shehbaz Sharif chaired a crucial meeting of the Economic Advisory Council on Wednesday, where members expressed full confidence in the government’s economic policies and presented key recommendations aimed at further strengthening Pakistan’s economic growth. During the meeting, PM Shehbaz revealed that consultations were ongoing regarding the regulation of digital currencies. He […]
Islamabad, Pakistan – Mobilink Bank, Pakistan’s leading digital microfinance institution, has announced a strategic partnership with fintech innovator NymCard and technology consultancy Dellson Associates to accelerate digital financial services and cross-border enablement. This collaboration marks a significant milestone in reshaping the future of financial inclusion in Pakistan. Under this alliance, NymCard will integrate its cutting-edge […]
Bank of Khyber (BoK) has formally initiated its transition into a full-fledged Islamic bank, the bank shared the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “The bank has initiated the process for conversion from conventional to Islamic bank,” BoK said. The development comes as Islamic banking in Pakistan has seen […]
February 20, 2025: In a major step towards enhancing international collaboration in Islamic finance, Meezan Bank, Pakistan’s leading Islamic bank, and the Participation Banks Association of Türkiye (TKBB) have signed a Memorandum of Understanding (MoU) to foster innovation, knowledge sharing, and capacity building in the sector. The MoU was exchanged during the official state visit […]
Karachi: HBL has announced a record profit before tax of Rs 120.3 billion for the year ended December 31, 2024, reflecting a 6% increase compared to 2023. The bank’s profit after tax stood at Rs 57.8 billion despite a substantial increase in the tax rate on banks to 54%. The earnings per share (EPS) for […]