The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8% shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited, according to a CCP press release. Under the terms of the Sale and Purchase Agreement, TPL Corp Limited will acquire a 33.17% stake, while ABHI (Private) Limited will […]
LAHORE: The Small and Medium Enterprises Development Authority (SMEDA), the State Bank of Pakistan (SBP), and the Pakistan Banks Association (PBA) have jointly developed a simplified SME Loan Application Form in line with the directive of Prime Minister Shehbaz Sharif. The form was officially unveiled during a seminar organized by SMEDA at a local hotel. […]
Islamabad, Pakistan: U Microfinance Bank Limited (U Bank) has signed a landmark partnership with CARE Pakistan and Mastercard to improve financial access for women entrepreneurs across Pakistan. The Memorandum of Understanding (MoU) was signed in Islamabad by Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, and Mr. Adil Sheraz, Country Director of […]
Islamabad (Dec 18, 2024): The Asian Development Bank (ADB) and the Securities and Exchange Commission of Pakistan (SECP) jointly hosted a two-day Training of Trainers (ToT) workshop on December 17-18, 2024, aimed at enhancing gender diversity within Non-Banking Microfinance Companies (NBMFCs). The workshop was attended by representatives from all SECP-regulated NBMFCs and focused on promoting […]
Islamabad: JazzCash, Pakistan’s leading fintech platform, has launched a Buy Now, Pay Later (BNPL) service, offering a convenient alternative to traditional credit cards. The service is initially available for retail purchases at Telemart, an electronics shopping platform, and the fashion brand EGO. It will soon expand to include leading brands such as MBasics, Alkaram, Dune […]
Islamabad, Pakistan — HBL Microfinance Bank (HBL MfB), Pakistan’s leading microfinance bank, and HBL Zarai Services Limited (HZSL), the country’s pioneer in agriculture-specialized extension services, have announced a strategic partnership aimed at revolutionizing financial and agricultural support for farmers. This collaboration reflects a shared vision of fostering sustainable agricultural development and enhancing rural livelihoods. Under […]
KARACHI, December 18, 2024 – In a landmark initiative aimed at driving economic empowerment and gender equality, P&G Pakistan, Imtiaz Group—Pakistan’s largest retailer—and Akhuwat Islamic Microfinance have signed a Memorandum of Understanding (MoU) to provide interest-free loans to women micropreneurs. This collaboration reflects a shared commitment to fostering local entrepreneurship and supporting economic growth in […]
Lahore, Pakistan — Proparco has announced the renewal of its partnership with Kashf Foundation through a $15 million loan aimed at empowering women entrepreneurs and expanding Kashf’s client base. This marks the third collaboration between the two organizations since 2017, underscoring a shared commitment to advancing financial inclusion and gender equality in Pakistan. Founded in […]
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has approved its Strategic Action Plan 2024-2026, aimed at advancing Islamic finance across all non-bank financial sectors under its regulatory ambit. The plan, developed in collaboration with key stakeholders, seeks to enable Islamic finance across regulated sectors by December 2026 and pave the way for a […]
Lahore, December 7, 2024 – The Small and Medium Enterprises Development Authority (SMEDA) and Pakistan Banks’ Association (PBA) have signed a landmark Memorandum of Understanding (MoU) aimed at enhancing access to finance for small and medium enterprises (SMEs). The signing ceremony, held at SMEDA’s Head Office, was graced by Federal Minister for Industries and Production, […]