The State Bank of Pakistan (SBP) has issued new directives requiring banks to file recovery suits in court for non-performing loans (NPLs) with an outstanding principal amount exceeding Rs. 10 million at least two years before considering them for charge-off. This move aims to ensure that recovery efforts for such NPLs are not compromised. In […]
Karachi, Pakistan – The Bank of Punjab organized an interactive session featuring Professor Stefan Dercon with local industry leaders in Karachi this week. Professor Dercon, a distinguished academic and policy advisor, currently serves as a Professor of Economic Policy at the Blavatnik School of Government and the Economics Department at the University of Oxford. His […]
Systems Limited, a global system integrator, has announced a strategic partnership with Formpipe, a specialist in customer communication management (CCM). This collaboration aims to provide comprehensive communication and document management solutions to banks and financial institutions worldwide. The partnership marks a significant advancement in the banking implementation landscape, positioning Systems Limited as a one-stop technology […]
NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in providing cutting-edge solutions for the asset finance and leasing industry, has announced a significant new agreement with a leading automaker to revolutionize its US dealership operations. The five-year, $16 million contract encompasses the customization, implementation, deployment, and ongoing SaaS subscription of Otoz, NETSOL’s omnichannel digital retail […]
Meezan Bank has announced the launch of Phase 2 of its MEEZANSHIP Program for 2024, a structured internship initiative designed for fresh graduates and postgraduates. This program aims to bridge the gap between academic learning and industry experience, offering young professionals a valuable opportunity to gain practical skills and potentially secure employment with the bank. […]
Karachi, July 13, 2024 – The Pakistan Stock Exchange (PSX) has proudly announced the induction of Meezan Bank as the first market maker for CDS-eligible Government of Pakistan (GoP) Ijarah Sukuk (GIS). This move, aimed at enhancing liquidity in the CDS-eligible government debt securities (GDS) market, involves the quotation of two-way prices and facilitating the […]
Islamabad – U Microfinance Bank (U Bank) and Yousuf Dewan Companies have entered into a strategic collaboration aimed at providing innovative financing options to make the ownership of electronic vehicles (EVs) more accessible and affordable for customers. The Memorandum of Understanding (MoU) was signed recently at a ceremony in Islamabad by Mr. Mohamed Essa Al […]
Karachi, Pakistan – Premier Code (Pvt.) Limited, a trailblazer in technology solutions under the brand DCODE, proudly announces its strategic partnership with Bank Alfalah Limited, a leading banking institution in Pakistan. This collaboration signifies a major advancement in fostering local manufacturing and enhancing banking services across the nation. DCODE is set to become one of […]
Islamabad, Pakistan – In a landmark move, Mashreq Pakistan, a branch of the prominent financial institution Mashreq operating in the MENA region, has been granted In-Principle Approval (IPA) by the State Bank of Pakistan to commence its Islamic Banking operations within the country. This development underscores the bank’s commitment to offering ethical, innovative, and robust […]
Lahore, Pakistan – June 25, 2024: The Bank of Punjab and Go and Relax Pvt Ltd (GOREX) have officially entered into a strategic partnership, marked by an agreement signing ceremony held recently. This collaboration aims to significantly enhance financial services and travel experiences for their customers. By merging the Bank of Punjab‘s robust financial expertise […]