KARACHI – Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), emphasized the critical role of innovation in driving Pakistan’s economic growth, during his keynote address at the 13th Bank of the Future Forum (BoFF), organized by Systems Limited and Temenos. Addressing an audience of industry leaders, Ahmad underscored that rapid technological advancements have […]
In a significant move aimed at accelerating the transition of conventional banking to Islamic banking, the State Bank of Pakistan (SBP) has revised the criteria for converting conventional banking branches into Islamic banking branches. This step aligns with the Federal Sharia Court’s directive to eliminate interest-based banking in the country and is part of the […]
KARACHI, September 25, 2024 – Faysal Bank Limited (FBL) has announced a strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, under IFC’s Global Trade Finance Program (GTFP). This collaboration marks a significant step forward in enhancing FBL’s trade finance capabilities, as both institutions explore the establishment of a […]
Karachi: The National Bank of Pakistan (NBP) has introduced a new service, “NBP Cash N Gold,” designed to offer customers fast and convenient access to loans by leveraging the value of their gold assets. This innovative service enables individuals to borrow up to 70% of the assessed value of their gold, providing an efficient solution […]
In a significant move aimed at stabilizing the open market, the State Bank of Pakistan (SBP) has extended the permission granted to exchange companies to import US dollars until June 30, 2025. This extension follows the earlier directive that was set to expire in June 2024. The central bank referred to its prior instructions outlined […]
Karachi, Pakistan – TPL Maps, Pakistan’s leading location-based services provider, has announced a strategic partnership with United Bank Limited (UBL), one of the country’s largest financial institutions, to drive innovation and optimize digital banking operations. This collaboration marks a significant step in both organizations’ efforts to empower businesses with cutting-edge technology and accelerate Pakistan’s digital […]
The profitability of Pakistan’s banking sector decelerated significantly in the first half of 2024, with after-tax profit growing by just 1.1% to Rs. 287 billion, according to the State Bank of Pakistan’s (SBP) Mid-Year Performance Review of the Banking Sector. This slowdown was driven by reduced growth in advances and declining returns on earning assets […]
Karachi: HBL has been awarded the coveted ‘Best Board of the Year’ by the Pakistan Institute of Corporate Governance (PICG), in recognition of its exemplary leadership, strong governance, and strategic oversight. The award highlights HBL’s continued commitment to excellence in corporate governance and responsible business practices. The accolade was presented to Aamir Irshad, Acting President […]
The Bank of Khyber (BoK) is pleased to announce a strategic partnership with ABL Funds for the distribution of ABL Asset Management Mutual Fund Units through BoK’s extensive branch network. This collaboration aims to expand investment opportunities for customers, providing them with easy access to a diverse range of mutual funds, including voluntary pension schemes […]
The State Bank of Pakistan (SBP) has announced the successful conclusion of Art Competition for the designs of the new banknote series. In a statement, SBP said it appreciates the local artists and designers who participated in the competition showcasing their creativity and talent in this important endeavor. After a rigorous evaluation process conducted by […]