Islamabad, Pakistan – In a key step toward fostering sustainable finance, InfraZamin Pakistan, Pakistan’s leading credit enhancement guarantor, held a high-profile seminar in collaboration with the State Bank of Pakistan (SBP), Pakistan Banks’ Association (PBA), and the Private Infrastructure Development Group (PIDG). Titled “Enabling Green Financing and Green Bonds via Credit Enhancement Solutions,” the event […]
Amsterdam, Dubai, Islamabad, 07 November 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator, today announced a strategic collaboration between Jazz, VEON’s digital operator in Pakistan, and Standard Chartered Bank (SCB). Through Jazz’s enterprise solutions arm, Garaj, the partnership aims to establish a regional availability zone for SCB, reinforcing the bank’s […]
Karachi: BankIslami, one of Pakistan’s leading Islamic financial institutions, has announced a groundbreaking campaign to promote its riba-free (interest-free) banking services, targeting individuals from all backgrounds and faiths. This initiative underscores BankIslami’s dedication to providing ethical and inclusive banking options, accessible to everyone regardless of religious affiliation. The move aligns with the bank’s mission of […]
In a significant development in Pakistan’s banking sector, the Board of Directors of Silkbank Limited (PSX: SILK) has granted in-principle approval for a potential merger with United Bank Limited (PSX: UBL). The decision was made during a board meeting held on November 6, 2024. The merger, which would be structured as a scheme of arrangement, […]
Karachi, Pakistan — Meezan Bank, Pakistan’s largest Islamic bank, has signed a strategic partnership with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, to introduce the ITFC Letter of Credit (LC) Confirmation product. This collaboration marks Meezan Bank as the first Pakistani bank to partner with ITFC […]
ISLAMABAD — In a significant policy shift, the federal government has proposed a series of amendments to the State Bank of Pakistan (SBP) Act, which could pave the way for dual nationals to hold key positions within the central bank and introduce the legal use of digital currencies in Pakistan. The proposed changes, if approved […]
Islamabad: In a major policy shift, the federal government has proposed amending the State Bank of Pakistan (SBP) Act to pave the way for legalizing digital currencies, including cryptocurrencies. The proposed changes, if approved, would recognize digital currencies as legal tender in Pakistan, with flagship cryptocurrencies like Bitcoin potentially gaining legal status. The proposed amendments […]
KARACHI: United Bank Limited (UBL), one of Pakistan’s largest commercial banks, has formally submitted an offer to amalgamate Silkbank Limited, proposing to merge Silkbank’s operations into UBL. The development was disclosed in a notice sent to the Pakistan Stock Exchange (PSX) on Friday. In its statement, UBL shared, “Further to our disclosure dated 28 April […]
KARACHI – Allied Bank Limited (ABL) has reinforced its position as a leader in digitally integrated banking solutions in Pakistan, demonstrating robust financial growth and ongoing commitment to innovation and community support. The bank announced notable achievements for the nine-month period ending September 30, 2024, with substantial improvements in assets, equity, and profit. ABL’s assets […]
Lahore: The Board of Directors of The Bank of Punjab (BOP) convened on Wednesday to review and approve the Bank’s unaudited financial results for the first nine months ending September 30, 2024. The Board expressed satisfaction with the Bank’s strong performance and commended the management for delivering notable growth across all key financial metrics. BOP […]