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 […]
KARACHI: February 14, 2025 — The State Bank of Pakistan (SBP) has cleared the Fit & Proper Test (FPT) for Zia Ijaz to assume the role of President and Chief Executive Officer (CEO) of Askari Bank Limited (AKBL). The development was disclosed in a notice issued by AKBL to the Pakistan Stock Exchange (PSX) on […]
Islamabad, Pakistan – Standard Chartered Bank Pakistan and the International Finance Corporation (IFC) are set to enhance their unfunded Risk-Participation Programme (RPP) to $400 million, significantly increasing access to trade finance for businesses across Pakistan. Building on the success of the existing $200 million equivalent programme, the expansion aims to support short-term trade and working […]
Karachi, February 13, 2025 – Meezan Bank Limited (MEBL) has announced its financial results for the calendar year 2024, reporting a record-breaking annual profit of Rs. 101.5 billion (Earnings Per Share: Rs. 56.5), reflecting a 20 percent year-on-year (YoY) increase. This milestone positions Meezan Bank as one of the most profitable banks in the sector, […]
Karachi, Pakistan – Bank Alfalah, one of Pakistan’s leading financial institutions, has strengthened its commitment to financial inclusion by increasing its investment in Qist Bazaar, the country’s rapidly growing buy-now-pay-later (BNPL) platform. This move aims to facilitate essential purchases for individuals through minimal and easy instalments. As part of its latest funding round, Bank Alfalah […]
Karachi, Pakistan – In a landmark move to expand financial access for smallholder farmers and microenterprises, HBL Microfinance Bank (HBL MfB) has signed an $80 million Risk Sharing Agreement with the International Finance Corporation (IFC), a member of the World Bank Group. This strategic partnership aims to empower small businesses, with a particular focus on […]
1LINK, Pakistan’s leading payment system, has officially onboarded Halan Microfinance Bank as a primary member on its network. The signing ceremony marked a significant step towards enhancing digital financial services and was attended by senior leadership from both organizations. Present at the occasion were Mr. Najeeb Agrawalla, CEO of 1LINK, and Mr. Christos Stefano, President […]
Karachi: Allied Bank Limited (ABL) has demonstrated remarkable financial growth in 2024, with significant improvements in profitability, asset expansion, and customer-centric innovations. The bank successfully navigated challenging market conditions, reinforcing its industry leadership. Financial Performance Overview ABL reported a 5% increase in markup income, reaching Rs 376,760 million in 2024, compared to Rs 357,307 million […]
Gilgit-Baltistan, Pakistan – HBL Microfinance Bank (HBL MfB) has signed a strategic agreement with the Economic Transformation Initiative, Gilgit-Baltistan (ETI-GB), to expand financial inclusion for rural farmers in the region. The collaboration aims to enhance access to finance, empowering small-scale farmers and agribusinesses. The Gilgit-Baltistan Rural Support Program (GBRSP) will serve as the implementing partner […]