KARACHI: The National Bank of Pakistan (NBP) has joined forces with BenchMatrix to implement the Risk Nucleus Governance, Risk, and Compliance (GRC) System, marking a significant step in the bank’s digital transformation journey. This collaboration aims to enhance operational efficiency, ensure regulatory compliance, and reinforce adherence to compliance risk management and industry standards. The adoption […]
Islamabad, Pakistan – HBL Microfinance Bank (HBL MfB) has announced the appointment of Maya Inayat Ismail as the new Chairperson of its Board of Directors, succeeding Rayomond H. Kotwal. Maya Inayat Ismail played a key role in the establishment of HBL MfB’s predecessor organization, the First MicroFinance Bank (FMFB), Pakistan’s first microfinance institution. She has […]
Karachi – Pakistan, 17-01-2025 – In a landmark development for the financial services sector, ABHI & TPL have officially completed the acquisition of FINCA Microfinance Bank Limited. The final signing ceremony took place in the presence of prominent leaders from both organisations and key stakeholders, including Omair Ansari, CEO of ABHI, Ali Jameel, CEO of TPL Corp Limited, and Jeffery Smith, Vice President […]
Karachi, January 28, 2025 – Telenor Microfinance Bank has officially transitioned into a “Digital Retail Bank,” rebranding itself as Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited). The bank will now operate under the Banking Companies Ordinance (BCO), 1962, and will adopt the brand name easypaisa digital bank, effective immediately. The company made the announcement […]
Islamabad – Pakistan Telecommunication Company Limited (PTCL), the country’s leading ICT services provider, has joined hands with PayFast, a State Bank of Pakistan-licensed Payment Service Provider (PSP), to introduce an innovative bill payment solution via WhatsApp. This ground-breaking service allows PTCL customers to view and pay their bills directly through WhatsApp, marking a major milestone […]
Karachi, Pakistan – January 27, 2025 – Meezan Bank, Pakistan’s leading Islamic bank, has announced the launch of its Foreign Currency (FCY) Debit Card for Pakistani exporters and freelancers who hold an Exporters’ Special Foreign Currency Account (ESFCA) with the Bank. Powered by Mastercard, the FCY Debit Card is accepted worldwide and simplifies international payments, making […]
KARACHI, January 27, 2025: The State Bank of Pakistan (SBP) has announced a 100 basis points reduction in the policy rate, bringing it down to 12%, effective January 28, 2025. The decision was unveiled by SBP Governor Jameel Ahmed during a press conference following the Monetary Policy Committee (MPC) meeting. This marks the sixth consecutive […]
KARACHI: Apna Microfinance Bank Limited has announced the appointment of Nazish Ali as its Acting President and CEO, following clearance from the State Bank of Pakistan (SBP). In a statement issued to the Pakistan Stock Exchange (PSX) on Monday, the bank confirmed that Nazish Ali assumed the role effective November 30, 2024, after receiving the […]
Karachi: Faysal Bank Limited, one of Pakistan’s leading Islamic banks, has partnered with the global tech firm wAI Industries to launch the country’s first AI-powered virtual assistants, powered by wAI’s innovative solution, ‘Alara’. The groundbreaking ‘Agentic Reasoning Platform’ by Alara is designed to enhance customer experience through advanced AI capabilities. The platform offers features such […]
Karachi, January 22, 2025: The State Bank of Pakistan (SBP) has issued revised instructions to facilitate the implementation of the International Financial Reporting Standard 9 (IFRS 9) across financial institutions, including banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs). The updated directives, announced in a circular dated January 22, 2025, include key amendments to […]