In a major policy shift, the State Bank of Pakistan (SBP) announced a 100 basis points cut in the benchmark interest rate, bringing it down to 11 percent. The decision was unveiled on Monday following a meeting of the central bank’s Monetary Policy Committee (MPC). This marks the first rate cut since March 10, when […]
KARACHI, Pakistan – In a significant move to bolster Pakistan’s digital payments landscape, the State Bank of Pakistan (SBP) has announced plans to establish a dedicated entity to oversee and drive the expansion of Raast, the country’s national instant payment system. The new entity will operate as a wholly owned subsidiary of the SBP and […]
In a landmark move set to redefine customer trust and digital banking security in Pakistan, Askari Bank has launched Pakistan’s first In-App Banking Call feature through the Askari Mobile App. This pioneering service enables customers to receive secure, authenticated calls directly from within the bank’s mobile application, effectively eliminating the threat of fraudulent phone scams. […]
Lahore – MCB Islamic Bank hosted its Annual Awards 2024 in Lahore, celebrating the remarkable achievements, dedication, and contributions of its top-performing team members from across Pakistan. The prestigious event was graced by Raza Mansha, Chairman of the Board of Directors, who attended as the Chief Guest. In his address, Mansha commended the bank’s continued […]
Karachi, May 2, 2025 — Dubai Islamic Bank Pakistan Limited (DIBPL) has announced the appointment of Mr. Muhammad Ali Gulfaraz as its new Chief Executive Officer, effective today, May 2, 2025. With a distinguished career spanning over 25 years, Gulfaraz brings a wealth of international and domestic banking experience to his new role. His expertise […]
Karachi, May 2, 2025 — Bank Alfalah Limited (PSX: BAFL) has officially completed the divestment of its entire shareholding in its subsidiary, Alfalah Securities (Private) Limited. In a stock filing submitted to the Pakistan Stock Exchange (PSX) today, the Bank confirmed the sale of 324,999,912 shares—representing 95.59% of Alfalah Securities’ issued and paid-up capital—to M/s. […]
Pakistan’s leading digital microfinance bank, Mobilink Bank, has announced a strategic partnership with Daraz Pakistan, the country’s largest e-commerce platform, to accelerate financial inclusion, access to finance and digital enablement of micro, small and medium enterprises (MSMEs) across Pakistan. The collaboration advances the two institutions’ joint vision for economic growth at the grassroots level for […]
Islamabad, April 30, 2025 — InfraZamin Pakistan in collaboration with the Securities and Exchange Commission of Pakistan (SECP), British High Commission Islamabad, and the Private Infrastructure Development Group (PIDG) hosted a seminar titled “Green Financing via Debt Capital Markets” in Islamabad. The event brought together senior professionals and international experts from the regulatory, financial, and […]
Peshawar – April 30, 2025 — The Bank of Khyber (BoK) has announced stellar financial results for the first quarter of the financial year 2025 (Q1FY25), reporting a Profit After Tax (PAT) of Rs. 1.6 billion, marking an impressive 108 percent year-on-year (YoY) increase. The bank’s strong performance was driven by a 45 percent YoY […]
ISLAMABAD, April 29 – In a major step towards modernizing welfare disbursements, Prime Minister Shehbaz Sharif announced the expansion of digital wallets across Pakistan, aiming to bring provincial systems into a unified national digital payment framework. The announcement was made during a ceremony held to honor individuals who played key roles in the successful execution […]