Pak Oman Investment Company has chosen BenchMatrix‘s RiskNucleus Loan Origination System (LOS) to enhance its credit approval and risk management processes. This strategic decision aims to leverage cutting-edge technology to streamline loan origination and boost operational efficiency. The RiskNucleus LOS is a comprehensive solution designed to manage various aspects of the loan approval process. Key […]
Mobilink Bank, Pakistan’s leading digital microfinance bank and a subsidiary of the global digital operator VEON Group, has announced a strategic partnership with AutoSoft Dynamics, a renowned provider of core banking and financial application solutions. This collaboration aims to automate Mobilink Bank’s treasury operations, ensuring seamless integration with the State Bank of Pakistan’s (SBP) PRISM […]
Islamabad, July 25, 2024 – The auto financing sector in Pakistan has experienced a notable decline for the second consecutive year, with total outstanding loans decreasing to Rs230.5 billion in June 2024, down from Rs233 billion in May. This continued downward trend reflects a significant contraction from the June 2022 figure of Rs368 billion, amounting […]
Islamabad, July 25, 2024 — The State Bank of Pakistan (SBP) has issued comprehensive guidelines to regulate the transfer and assignment of Non-Performing Assets (NPAs) from Financial Institutions (FIs), including banks and Development Financial Institutions, to Corporate Restructuring Companies (CRCs). This move aims to ensure that such transactions are conducted in a fair, transparent, and […]
The State Bank of Pakistan (SBP) has issued new directives requiring banks to file recovery suits in court for non-performing loans (NPLs) with an outstanding principal amount exceeding Rs. 10 million at least two years before considering them for charge-off. This move aims to ensure that recovery efforts for such NPLs are not compromised. In […]
Karachi, Pakistan – The Bank of Punjab organized an interactive session featuring Professor Stefan Dercon with local industry leaders in Karachi this week. Professor Dercon, a distinguished academic and policy advisor, currently serves as a Professor of Economic Policy at the Blavatnik School of Government and the Economics Department at the University of Oxford. His […]
Systems Limited, a global system integrator, has announced a strategic partnership with Formpipe, a specialist in customer communication management (CCM). This collaboration aims to provide comprehensive communication and document management solutions to banks and financial institutions worldwide. The partnership marks a significant advancement in the banking implementation landscape, positioning Systems Limited as a one-stop technology […]
NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in providing cutting-edge solutions for the asset finance and leasing industry, has announced a significant new agreement with a leading automaker to revolutionize its US dealership operations. The five-year, $16 million contract encompasses the customization, implementation, deployment, and ongoing SaaS subscription of Otoz, NETSOL’s omnichannel digital retail […]
Meezan Bank has announced the launch of Phase 2 of its MEEZANSHIP Program for 2024, a structured internship initiative designed for fresh graduates and postgraduates. This program aims to bridge the gap between academic learning and industry experience, offering young professionals a valuable opportunity to gain practical skills and potentially secure employment with the bank. […]
Karachi, July 13, 2024 – The Pakistan Stock Exchange (PSX) has proudly announced the induction of Meezan Bank as the first market maker for CDS-eligible Government of Pakistan (GoP) Ijarah Sukuk (GIS). This move, aimed at enhancing liquidity in the CDS-eligible government debt securities (GDS) market, involves the quotation of two-way prices and facilitating the […]