Date: December 23, 2024 Muscat, Oman – In a remarkable initiative aimed at fostering community engagement and promoting financial literacy, the National Bank of Pakistan (NBP) and Al Jadeed Exchange have announced the launch of a cricket tournament scheduled for January 2025. The announcement was made during a prestigious dinner event held in Muscat, Oman, attended by esteemed dignitaries, […]
Karachi: Meezan Bank, Pakistan’s leading Islamic bank, and Arif Habib Limited (AHL), a pioneer in investment banking, have announced a strategic partnership aimed at enhancing the investor experience in Pakistan. The collaboration was formalized through a Memorandum of Understanding (MoU), signed by Syed Amir Ali, Deputy Chief Executive Officer of Meezan Bank, and Shahid Ali […]
Karachi: The State Bank of Pakistan (SBP) has announced the adoption of AAOIFI Shariah Standard No. 59 on the Sale of Debt, aimed at standardizing and harmonizing Shariah practices across Islamic Banking Institutions (IBIs). The decision, effective immediately, comes with certain clarifications and amendments to ensure compliance. In a statement, the SBP emphasized that this […]
KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMA) has lauded the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) for its decisive action to cut the policy rate by 200 basis points, bringing it to 13%, effective December 17, 2024. The decision, prompted by a significant decline in inflation to 4.9% […]
The State Bank of Pakistan (SBP) has unveiled an advanced version of its Electronic Credit Information Bureau (eCIB), termed eCIB System (V2), which is set to become operational from January 1, 2025. This upgraded system will replace the existing eCIB platform and is designed to meet evolving technological advancements and international reporting standards. The eCIB […]
Karachi, Pakistan – KT Bank Pakistan Limited (under formation) has announced a strategic partnership with Sofcom Pvt Ltd, a leading provider of Payroll and Human Resource Management solutions. This collaboration aims to enhance KT Bank’s operational efficiency by streamlining payroll processes, ensuring regulatory compliance, and allowing the bank to prioritize its core banking functions. The […]
Karachi, December 13, 2024 – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, emphasized the pivotal role of Islamic finance and capital markets in steering Pakistan towards macroeconomic stability and sustainable growth. Speaking virtually at the inaugural session of the Second International Islamic Capital Markets Conference & Expo in Karachi, Aurangzeb highlighted Pakistan’s recent economic […]
MCB Bank Limited (PSX: MCB) has announced the appointment of Muhammad Nauman Chughtai as its new President and Chief Executive Officer. The decision was approved by the bank’s Board of Directors during a meeting held on December 11, 2024, according to a notice issued to the Pakistan Stock Exchange (PSX). Muhammad Nauman Chughtai’s appointment will […]
The Board of Directors of United Bank Limited (UBL) [PSX: UBL], in its 252nd meeting held on Monday, approved the amalgamation of Silkbank Limited (SBL) with and into UBL through a share swap arrangement. The merger, undertaken in accordance with Section 48 of the Banking Companies Ordinance, 1962, aims to streamline operations and enhance value […]
Karachi, November 29, 2024: The 9th Pakistan Banking Awards ceremony, held at a local hotel in Karachi, brought together senior executives and prominent figures from Pakistan’s banking and finance industry. The event was graced by the Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, who served as the Chief Guest. In his address, […]