Karachi, June 12, 2025 — The State Bank of Pakistan (SBP) has announced the introduction of new formats for the issuance of electronic Proceed Realization Certificates (ePRCs) and Statements of PRCs (S-PRCs), replacing the existing V-148 and V-149 formats. This change is part of the central bank’s ongoing efforts to modernize and streamline foreign exchange […]
KARACHI, June 12, 2025 — The State Bank of Pakistan (SBP) is scheduled to announce its monetary policy decision on June 16, 2025, with a majority of market participants and analysts expecting the central bank to keep the policy rate unchanged, according to a poll conducted by Topline Securities. The brokerage house noted that 56 […]
Finance Minister Muhammad Aurangzeb presented the Federal Budget in the Parliament House today for the fiscal year 2025-26. The total federal budget outlay is Rs 17.6 trillion. Key Features: Tax on Dividend remained unchanged at 15 percent FED on the allotment or transfer of commercial and residential plots is proposed to be abolished (previously 3 […]
In a major leap toward financial inclusion and digital transformation, Codebase Technologies has successfully enabled the Pilot launch of Raqami Islamic Digital Bank, taking an important step toward becoming Pakistan’s first fully Shariah-compliant digital retail bank. This milestone marks a defining moment in the country’s financial sector evolution and aligns seamlessly with the State Bank […]
In a groundbreaking step toward intelligent banking, Bank AL Habib has partnered with C Square and wAI Industries to implement a next-generation customer experience (CX) transformation. The initiative is powered by Genesys Engage and Alara Conversational AI Agents, marking the first AI-driven contact center ecosystem in Pakistan. At the core of this transformation is a […]
Source: Business Recorder KARACHI: Allied Bank, one of Pakistan’s leading commercial institutions, has announced a strategic partnership with Paysys Labs, a pioneer in next-generation payment technologies, to pilot the Interledger Protocol (ILP) for seamless cross-border transactions. As part of this groundbreaking collaboration, Paysys Labs has also secured the prestigious Digital Financial Services Grant from the […]
KARACHI: Standard Chartered Pakistan and Emirates have entered into a strategic partnership by signing a Memorandum of Understanding (MoU). The collaboration offers significant benefits to Standard Chartered Credit Card holders, special fares on tickets purchased online through the Emirates website. Additionally, customers can opt to split their payments into convenient monthly instalments of up to […]
Karachi – June 2, 2025: The National Bank of Pakistan (NBP) has officially closed its branches in New York and Paris as part of its ongoing global restructuring strategy aimed at reducing low-yielding international operations, according to the bank’s recently released annual report. The closure of NBP’s Paris branch marks the end of nearly five […]
The Board of Directors of Bank Alfalah Limited (BAFL), one of the largest commercial banks in Pakistan, has approved the sale of its Bangladesh operations to Bank Asia Limited, a private-sector commercial bank based in Dhaka. BAFL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “We are pleased to […]
Islamabad, Pakistan — Jazz Business, a leading provider of enterprise ICT solutions in Pakistan, has announced a strategic partnership with Logon to introduce BRAS as a Service (BRASaaS)—a groundbreaking, edge-based broadband management solution aimed at transforming the capabilities of Tier 2 and Tier 3 Internet Service Providers (ISPs) across the country. This collaboration marks a […]