Amsterdam and Dubai, October 25, 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator, today announced a strategic partnership between JazzCash, its financial services arm in Pakistan, and Dgpays, a prominent financial infrastructure technology provider in the EMEA region. The collaboration aims to elevate JazzCash’s e-commerce payment gateway, significantly enhancing transaction […]
Karachi, Pakistan – October 2024 – Faysal Bank Limited (FBL), a prominent player in Pakistan’s Islamic banking sector, has posted a strong financial performance for the nine months ending on September 30, 2024. The Bank reported a Profit After Tax (PAT) of PKR 19.8 billion, marking an impressive 64% increase from the same period last […]
Karachi – October 25, 2024: BankIslami Pakistan Limited continues its impressive growth trajectory, posting a 33.6% increase in profit before tax for the nine months ending September 2024. The bank’s profit before tax reached Rs. 19.9 billion, while its post-tax profit surged by 20.5%, reaching Rs. 10.2 billion. This strong performance comes despite challenging economic […]
KARACHI: NayaPay, Pakistan’s pioneering fintech platform and the country’s first Electronic Money Institution, has been recognized on the prestigious 2024 CB Insights Fintech 100 list. The annual list highlights the top 100 most promising private fintech companies globally, focusing on early- and mid-stage innovators driving significant advancements across the sector. CB Insights, a New York-based […]
Dubai – Pakistan Telecommunication Company Limited (PTCL) has announced a strategic collaboration with Systems Limited, a prominent global systems integrator, at GITEX 2024 in Dubai. This partnership aims to advance PTCL and Ufone 4G’s technology capabilities through Systems Limited’s expertise in Operations and Maintenance of Business Support Systems (BSS) and Operational Support Systems (OSS). The […]
Lahore, Pakistan – Sarmayacar, a Lahore-based venture capital firm, has today announced the launch of its Sarmayacar Climaventures Fund, a groundbreaking initiative aimed at addressing Pakistan’s climate emergency. The fund, which has secured $15 million in anchor funding from the Green Climate Fund, will invest in local ventures offering scalable and impactful solutions to the […]
Board declares Rs. 9.00 per share dividend; Total dividend reaches Rs. 27.00 per share for the nine months. MCB Bank Limited (MCB) has announced its financial results for the nine-month period ending September 30, 2024, demonstrating strong performance across all key financial indicators. The Bank’s Board of Directors, chaired by Mian Mohammad Mansha, approved the […]
Lahore-based coworking platform COLABS has raised $2 million in a pre-Series A funding round led by UAE’s Shorooq Partners, with participation from Saudi Arabia’s Waad Investment. This latest investment brings COLABS’ total funding to over $5 million, with previous rounds backed by prominent investors like Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures. Founded […]
KARACHI – United Bank Limited (UBL) has announced its financial results for the third quarter of 2024, posting a record profit of Rs. 18.3 billion, translating to earnings per share (EPS) of Rs. 14.96. This marks a significant 24 percent year-on-year (YoY) and quarter-on-quarter (QoQ) growth. According to Topline Securities, this is the highest-ever quarterly […]
In a significant move toward establishing a fully interest-free financial system in Pakistan, the Senate has passed the 26th Constitutional Amendment Bill, 2024, setting January 1, 2028, as the deadline for the elimination of Riba (interest-based banking). This landmark decision follows years of debate over the role of Islamic banking in the country’s economic framework. […]