Karachi, Pakistan – Faysal Bank Limited (FBL), one of Pakistan’s leading Islamic banks, has signed a strategic Memorandum of Understanding (MoU) with oladoc, a prominent digital healthcare platform. This collaboration aims to provide home remittance account holders with complimentary access to essential digital healthcare services via the oladoc app. This initiative highlights FBL’s dedication to […]
KARACHI: The State Bank of Pakistan (SBP) is set to convene its Monetary Policy Committee (MPC) meeting on March 10, 2025, to review the country’s monetary policy stance. According to a poll conducted by Topline Securities, 38% of market participants expect the central bank to maintain the current policy rate, while 62% anticipate a rate […]
Karachi: BankIslami has announced a record-breaking 24.4% increase in pre-tax profit, reaching Rs 25.5 billion for the year ending December 31, 2024. The bank reinforced its stature in Pakistan’s Islamic banking sector despite economic volatility and evolving regulatory conditions. Net profit saw a 7.1% rise to Rs 11.8 billion. Upholding its mission of “Saving Humanity […]
ISLAMABAD: Prime Minister Shehbaz Sharif has upheld the ban on dual nationals serving as governor, deputy governors, and members of the Monetary Policy Committee of the State Bank of Pakistan (SBP), rejecting a proposed amendment to the SBP Act. Despite a unanimous recommendation from a cabinet committee to lift the restriction, the prime minister intervened […]
KARACHI, February 25, 2025 – The Pakistan Banking Summit 2025 (PBS’25) concluded on February 25th at the Mövenpick Hotel, Karachi, marking a groundbreaking initiative in the country’s financial landscape. Organized under the aegis of the Pakistan Banks Association (PBA), the two-day event served as a first-of-its-kind collaborative effort, bringing together key stakeholders from Pakistan’s banking […]
KARACHI – Standard Chartered Bank Pakistan Limited (SCBPL) has announced a record-breaking performance for 2024, reporting a profit before tax of PKR 100.6 billion, reflecting a 13% year-on-year (YoY) growth. The Bank’s performance was driven by strong income growth of 9% YoY, with positive contributions from all business segments. Despite a high inflationary environment and […]
KARACHI: In a significant milestone for Pakistan’s financial sector, the State Bank of Pakistan (SBP) has awarded the first restricted license for pilot operations to Mashreq Bank Pakistan Limited (MBPL). The announcement was made during a special meeting attended by the SBP Governor, Deputy Governor, and senior executives, along with the Board and senior management […]
Pakistan, Karachi – 21 February 2025: HBL, Pakistan’s leading bank, has partnered with Ahya Technologies, a Pakistani company specializing in AI-powered climate software, to accelerate its journey towards net-zero emissions by 2030. This collaboration underscores HBL’s commitment to sustainability, in line with the Aga Khan Development Network (AKDN) goals. This partnership provides HBL access to […]
Karachi, Pakistan – Faysal Bank Limited (FBL) has continued its strong financial trajectory in 2024, demonstrating resilience and operational excellence in its second year as a full-fledged Islamic bank. The bank reported a Profit Before Tax (PBT) of PKR 50.4 billion, reflecting a 22% year-on-year increase compared to PKR 41.4 billion in the previous year. […]
Bank of Khyber (BoK) has formally initiated its transition into a full-fledged Islamic bank, the bank shared the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “The bank has initiated the process for conversion from conventional to Islamic bank,” BoK said. The development comes as Islamic banking in Pakistan has seen […]