In a significant move toward advancing sustainability in Pakistan, Climate Finance Pakistan has announced a strategic partnership with Crowe Hussain Chaudhury & Co. to launch Carbon Track, an innovative AI-powered Environmental, Social, and Governance (ESG) platform. This state-of-the-art solution is designed to help industries across Pakistan reduce their carbon footprints and align with global sustainability […]
The State Bank of Pakistan (SBP) is set to unveil its monetary policy on January 27, with a significant majority of analysts anticipating a rate cut. According to a survey conducted by Topline Securities, 61% of participants predict a 100bps reduction in the policy rate. Survey Results on Rate Expectations Topline’s poll revealed diverse expectations […]
Google Pay, the global contactless payment platform, is preparing to make its official debut in Pakistan by mid-March 2025, marking a significant advancement in the country’s rapidly evolving digital payments ecosystem. The rollout, confirmed by Google in November 2024, will be facilitated through strategic collaborations with Visa, Mastercard, and leading local banks. Seamless Payment Integration […]
KARACHI: The State Bank of Pakistan (SBP) on Monday unveiled the third National Financial Inclusion Strategy (NFIS) 2024-28, targeting an increase in the access to banking services to 75% of the adult population, up from the current 64%, over the next four years. The strategy prioritizes marginalized groups such as women, youth, persons with disabilities, […]
KARACHI, Pakistan: State Bank of Pakistan (SBP) Governor Jameel Ahmad has reiterated the central bank’s unwavering commitment to advancing financial inclusion through robust collaboration with global and domestic stakeholders. The governor made these remarks during a bilateral meeting with Dr. Alfred Hannig, Chief Executive Officer of the Alliance for Financial Inclusion (AFI), held during Dr. […]
The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8% shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited, according to a CCP press release. Under the terms of the Sale and Purchase Agreement, TPL Corp Limited will acquire a 33.17% stake, while ABHI (Private) Limited will […]
DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ — Bank Alfalah, a leading commercial bank in Pakistan with a network of over 1,000 branches, has announced its acquisition of a 9.9% equity stake in Jingle Pay, one of the fastest growing fintechs in the MENAP region. The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financial inclusion across […]
LAHORE: The Small and Medium Enterprises Development Authority (SMEDA), the State Bank of Pakistan (SBP), and the Pakistan Banks Association (PBA) have jointly developed a simplified SME Loan Application Form in line with the directive of Prime Minister Shehbaz Sharif. The form was officially unveiled during a seminar organized by SMEDA at a local hotel. […]
Hong Kong, January 13, 2025 – Pakistan plans to issue yuan-denominated bonds, known as Panda bonds, aiming to raise $200–250 million from Chinese investors within the next six to nine months. The announcement was made by Federal Minister for Finance and Revenue Muhammad Aurangzeb during the Asian Financial Forum in Hong Kong. This marks Pakistan’s […]
Islamabad, Pakistan: U Microfinance Bank Limited (U Bank) has signed a landmark partnership with CARE Pakistan and Mastercard to improve financial access for women entrepreneurs across Pakistan. The Memorandum of Understanding (MoU) was signed in Islamabad by Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, and Mr. Adil Sheraz, Country Director of […]