Islamabad – The Ministry of Information Technology and Telecommunication (MoIT&T) is actively engaged in discussions with global payment giant PayPal to facilitate its entry into the Pakistani market, Minister for Finance and Revenue Senator Muhammad Aurangzeb informed the National Assembly in a written response. He stated that the State Bank of Pakistan (SBP) has expressed […]
Karachi – United Bank Limited (UBL), one of Pakistan’s largest commercial banks, has announced record-breaking consolidated earnings of Rs75.78 billion for the year ending December 31, 2024, marking a significant 34% increase from its profit-after-tax of Rs56.47 billion in 2023. The profit includes Rs74.84 billion from continued operations and Rs938.61 million from discontinued operations during 2024. […]
Karachi, February 18: Being at the forefront of end-user facilitation and creating ease of doing business, the Central Depository Company of Pakistan Limited (CDCPL) has signed an important Memorandum of Understanding (MoU) with the Insurance Association of Pakistan (IAP) to enable and provide the Life Insurance Policy Finder for policyholders and their beneficiaries. The MoU was […]
Karachi, Pakistan – Shareholders of Silkbank Limited (PSX: SILK) have approved the proposed amalgamation of the bank into United Bank Limited (PSX: UBL), pending regulatory approvals. The merger will proceed under Section 48 of the Banking Companies Ordinance, 1962, with final authorization required from the State Bank of Pakistan (SBP) and the Competition Commission of […]
Islamabad: Yango Pakistan, a subsidiary of the global tech company Yango Group, has announced a strategic partnership with Elixs Bikes to introduce cost-effective electric bikes (EV bikes) for its partner drivers. The initiative, which will soon be extended to couriers, marks a significant step towards sustainable and economical urban mobility. Through this collaboration, Elixs Bikes […]
barq Holding, the parent company of barq Financial, has officially launched its barq Digital Wallet in Pakistan as part of its international expansion strategy. The move aims to enhance digital payment solutions and promote financial inclusion in the region. The launch follows the remarkable success of the barq Financial app in Saudi Arabia, where it has emerged […]
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced new Consumer Protection Principles for Non-Banking Microfinance Companies (NBMFCs), mandating the issuance of a Key Fact Statement (KFS) for borrowers to ensure transparency and consumer rights protection. In a recently issued Circular No. 5 of 2025, SECP has directed all NBMFCs and the Chief […]
Lahore, February 17, 2025 – The Board of Directors of The Bank of Punjab (BOP) convened on February 17, 2025, to review and approve the Annual Audited Financial Statements for the year ending December 31, 2024. Despite challenges such as the implementation of IFRS-9, debt restructuring of a major state-owned entity, a challenging interest rate […]
Pakistan’s financial landscape is currently entering a phase of monumental transition, driven by the ever-increasing momentum of digital transformation. Money is being redefined in the modern-day across Pakistan, from city centers to the remote corners of the country. The once interminable barriers of traditional banking—which saw bank penetration of only 23% among adults with formal […]
ISLAMABAD, Pakistan – In a landmark move for economic analysis in Pakistan, HBL, in collaboration with S&P Global, has announced the launch of the HBL S&P Global Purchasing Managers’ Index (PMI®) series. This initiative is set to provide timely and valuable insights into the overall economic health of Pakistan’s manufacturing sector, marking a significant advancement […]