Karachi, Pakistan, November 13, 2024 – Meezan Bank, Pakistan’s leading Islamic bank, has entered into a strategic alliance with CashNow, Pakistan’s pioneering supply chain finance platform, to revolutionize Shariah-compliant supply chain finance. A Memorandum of Understanding (MoU) was signed at Meezan Bank’s Head Office in the presence of senior management from both organizations. This partnership, the first […]
Islamabad, Pakistan – Faysal Funds, Pakistan’s first fully Shariah-compliant asset management company, took a significant step in supporting the nation’s startup ecosystem by participating in the Pakistan Startup Summit, an event powered by the Securities and Exchange Commission of Pakistan (SECP). The summit provided a dynamic platform for entrepreneurs to connect with industry leaders and […]
Pakistan’s burgeoning startup ecosystem is showing signs of recovery, attracting $32 million in investment from a range of sources during the first four months of the current financial year. According to Invest2Innovate, local startups secured $15 million in Q1 and another $17 million in October, marking a significant uptick in investor confidence. Three high-profile deals […]
Karachi, Pakistan – Saleem Ullah, Deputy Governor of the State Bank of Pakistan (SBP), emphasized the need for Pakistan to fully adopt a comprehensive Islamic financial system beyond conventional banking alternatives. Speaking at the 8th International Conference on Islamic Banking and Finance (ICIBF 2024) hosted by the Institute of Business Management (IoBM) on Tuesday, he […]
KARACHI: Rehmat Ali Hasnie, President of the National Bank of Pakistan (NBP), underscored the pivotal role of the financial sector in propelling Pakistan’s economic growth during his recent address at The Future Summit. He emphasized that the financial sector should be viewed not merely as a gateway to basic banking services, but as a fundamental […]
In a significant move to enhance customer service standards, the Banking Mohtasib Pakistan has amended the Banking Companies Ordinance, reducing the response time for banks to address customer complaints from 45 days to 30 days. The amendment, aimed at accelerating resolution times and improving the banking experience for customers, was published in the Extraordinary Gazette […]
Islamabad, Pakistan – Standard Chartered Bank (SCB) Pakistan has rolled out an upgraded IATA EASY PAY solution, uniquely customized for the Pakistan market. This advanced solution is designed to streamline BSP ticketing and payment processes for International Air Transport Association (IATA) agents across the country, offering them a seamless, efficient, and closed-loop payment mechanism. The […]
KARACHI – The development of Pakistan’s IT sector could be a transformative factor for economic growth, Finance Minister Muhammad Aurangzeb said Monday via video link at the opening session of Pakistan Start-up Summit 2024, organized by the Securities and Exchange Commission of Pakistan (SECP) in Karachi. The two-day summit marked a pivotal moment for the […]
Karachi: TPL Corp Limited (PSX: TPL) and Abhi Private Limited have received final approval from the State Bank of Pakistan (SBP) to acquire a 94.8% stake in FINCA Microfinance Bank Limited. This approval comes as the companies proceed with their previously announced acquisition plans, marking a significant milestone in Pakistan’s microfinance landscape. According to a […]
ISLAMABAD: Askari Bank is advancing its role in digital financial services with the launch of Pakistan’s first comprehensive cashless ecosystem initiative. This innovative project, aimed at building cashless communities, reflects the bank’s mission to bring customers closer through digital transformation and financial inclusion. Askari Bank’s digital journey has already seen pioneering efforts, including an indigenous […]