The Pakistan Banks’ Association (PBA), under the leadership of its Chairman Zafar Masud, has announced a series of strategic projects aimed at fostering a more inclusive and sustainable financial ecosystem in Pakistan. These initiatives were presented during a high-level meeting convened by Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, and attended by Jameel […]
In a notable development, Habib Bank Limited (HBL) and The Bank of Punjab (BoP) have announced new monthly charges on high-value accounts, effective December 20, 2024. The revisions are part of the updated Schedule of Charges for July-December 2024. HBL’s New Fee Structure HBL has introduced a 6 percent monthly fee on checking accounts with […]
Islamabad: November 15, 2024 Bank Alfalah Limited (BAFL) has received in-principle approval from the State Bank of Pakistan (SBP) and the Bangladesh Bank to allow Hatton National Bank PLC (HNB) of Sri Lanka to conduct due diligence on its operations in Bangladesh. This update was announced by BAFL in a notice to the Pakistan Stock […]
In a recent development, Bank Alfalah Limited (BAFL), one of Pakistan’s leading commercial banks, has officially withdrawn its public announcement of intention (PAI) to acquire a majority stake in Samba Bank Limited. The decision follows the Saudi National Bank’s (SNB) termination of its plans to divest its approximately 84.51% stake in Samba Pakistan. BAFL had […]
Karachi, Pakistan, November 13, 2024 – Meezan Bank, Pakistan’s leading Islamic bank, has entered into a strategic alliance with CashNow, Pakistan’s pioneering supply chain finance platform, to revolutionize Shariah-compliant supply chain finance. A Memorandum of Understanding (MoU) was signed at Meezan Bank’s Head Office in the presence of senior management from both organizations. This partnership, the first […]
Karachi, Pakistan – Saleem Ullah, Deputy Governor of the State Bank of Pakistan (SBP), emphasized the need for Pakistan to fully adopt a comprehensive Islamic financial system beyond conventional banking alternatives. Speaking at the 8th International Conference on Islamic Banking and Finance (ICIBF 2024) hosted by the Institute of Business Management (IoBM) on Tuesday, he […]
KARACHI: Rehmat Ali Hasnie, President of the National Bank of Pakistan (NBP), underscored the pivotal role of the financial sector in propelling Pakistan’s economic growth during his recent address at The Future Summit. He emphasized that the financial sector should be viewed not merely as a gateway to basic banking services, but as a fundamental […]
In a significant move to enhance customer service standards, the Banking Mohtasib Pakistan has amended the Banking Companies Ordinance, reducing the response time for banks to address customer complaints from 45 days to 30 days. The amendment, aimed at accelerating resolution times and improving the banking experience for customers, was published in the Extraordinary Gazette […]
Karachi: Tuesday, November 12, 2024 – Saudi National Bank (SNB) has decided against selling its majority stake in Samba Bank Limited (PSX: SBL), as disclosed in a notification to the Pakistan Stock Exchange (PSX) on Tuesday. The announcement stated, “We have been notified that after the completion of due diligence and exploration for the sale […]
PESHAWAR: Bank of Khyber (BoK) held its 195th Board of Directors meeting on October 29, 2024, at the Bank’s Head Office in Peshawar, where members reviewed and approved the financial results for the nine-month period ending September 30, 2024. The meeting was presided over by Ikramullah Khan, Additional Chief Secretary of the Government of Khyber […]