Islamabad, October 18, 2024 – The State Bank of Pakistan (SBP) announced on Thursday that Raast, the country’s first instant payment system, has successfully processed 892 million transactions amounting to a total of Rs. 20 trillion. In an official statement, the central bank highlighted the rapid growth of Raast, noting that the most recent Rs. […]
ISLAMABAD: The State Bank of Pakistan (SBP) has forecasted real GDP growth of 2.5-3.5% for the fiscal year 2025, slightly below the government’s target of 3.6%, according to its Annual Report for 2023-2024, released on Thursday. In the report, titled The State of Pakistan’s Economy, the SBP highlighted that Pakistan’s macroeconomic conditions showed significant improvement […]
Karachi, Pakistan – 17 October 2024: Pakistan Kuwait Investment Company (Pvt) Limited (PKIC), the largest development financial institution in Pakistan, has signed an agreement with Systems Limited to implement the cutting-edge Temenos Core Banking platform. This strategic collaboration is set to elevate PKIC’s operational capabilities and enhance its comprehensive product portfolio, marking a significant milestone […]
KARACHI, October 17, 2024 – Bank Alfalah Limited’s Board of Directors, in a meeting held today, approved the financial results for the nine-month period ending September 30, 2024, reflecting a strong performance across key metrics. The bank posted a profit after tax (PAT) of PKR 33.643 billion, marking a significant improvement of 23.5% compared to […]
KARACHI: The State Bank of Pakistan (SBP) will celebrate Women Entrepreneurship Day (WED) on November 19, 2024, with an event aimed at recognizing and promoting the vital role of women entrepreneurs in the country’s economy. The event will be inaugurated by SBP Governor Jameel Ahmad at the SBP headquarters and will gather top officials from […]
Karachi, October 16, 2024 – Soneri Bank Limited’s Board of Directors, in their 207th meeting held in Karachi, approved the Bank’s condensed interim financial statements for the nine-month period ending September 30, 2024. The results underscore consistent and sustained growth across all areas of the Bank’s operations. Soneri Bank reported a profit before tax (PBT) […]
HBL has announced a consolidated profit before tax of Rs 85.9 billion for the first nine months of 2024, marking a 3% increase compared to the same period last year. The bank’s strong performance, driven by its domestic businesses and steady international growth, led to a profit after tax of Rs 43.3 billion. Earnings per […]
In a significant step towards technological advancement, Systems Limited and EVAM have officially signed a Memorandum of Understanding (MoU), marking the beginning of a new era of collaboration. This partnership aims to deliver cutting-edge solutions designed to enhance enterprise agility, operational efficiency, and sustainable growth across industries, with a special focus on the banking and […]
Dubai: Pakistani fintech startup Abhi has secured $15 million in credit financing, a round led by Shorooq Partners and Amplify Growth Partnership. This funding will enable the company to scale its operations and expand its Earned Wage Access (EWA) services across the UAE, targeting both blue-collar and white-collar workers. In an official statement released on Wednesday, Abhi shared that the […]
In a groundbreaking move to promote financial inclusion and boost support for smallholder farmers, Fatima Fertilizer Company Limited and Zarai Taraqiati Bank Limited (ZTBL) have entered into a strategic partnership. This collaboration, the first of its kind in the agricultural sector, aims to integrate farmers into the formal financial system while providing them with crucial […]