March 11, 2025 – Karachi: The State Bank of Pakistan (SBP) has officially sanctioned the amalgamation of Silk Bank Limited (SBL) with United Bank Limited (UBL), as disclosed in a notification to the Pakistan Stock Exchange (PSX) on Tuesday. In a formal announcement dated March 11, 2025, UBL informed the PSX that the SBP issued […]
Funding from the facility will be directed towards the agriculture sector, which contributes 24 per cent to Pakistan’s GDP and employs 37 per cent of its workforce. The facility will mainly support smallholder farmers, including those in dairy and poultry farming, who often lack access to finance. Farmers vulnerable to climate change impacts, will receive […]
KARACHI: BankIslami has inaugurated its first fully women-managed branch in Karachi, marking a significant step toward gender inclusivity in Pakistan’s financial sector. The branch, operated entirely by female employees, is designed to empower women both as professionals and customers. The initiative aligns with BankIslami’s vision of “Saving Humanity from Riba,” reinforcing its commitment to ethical […]
Digitt+, a leading Electronic Money Institute, has partnered with Barq Pk to embed financial payments into their app via open APIs. Under this collaboration, Barq Fintech Pvt Limited (formerly MYTM Pvt Ltd Pakistan) will leverage Digitt+’s open API-driven infrastructure to offer seamless financial transactions to Barq’s users in Pakistan. The agreement was signed in Riyadh, […]
Digitt+, a leading fintech company, has partnered with UBL, one of Pakistan’s largest banks, to enable seamless digital disbursements exceeding 1 billion rupees to the agricultural sector. This is facilitated through Digitt+’s innovative Crop Procurement Receipt (CPR) financing solution, empowering farmers with seamless access to funding. This collaboration marks a pivotal moment in improving initially […]
Islamabad, March 06, 2025: Pakistan’s leading digital microfinance institution, Mobilink Bank, has solidified its standing as a trailblazer in women’s financial inclusion and economic empowerment by winning the ‘CMO Marketing Campaign’ Award at the GSMA Global Mobile (GLOMO) Awards during Mobile World Congress 2025. The award recognizes Mobilink Bank’s groundbreaking campaign – The Invisible Heirs, […]
New Delhi, [Date] – India’s financial crime watchdog, the Enforcement Directorate (ED), has revealed that Paytm and its subsidiaries violated the country’s Foreign Exchange Management Act (FEMA) to the extent of 6.11 billion rupees ($70 million). According to a statement released on Monday, the ED found that Paytm made a foreign investment in Singapore without […]
KARACHI: The Board of Directors of National Bank of Pakistan (NBP) convened on February 28, 2025, to approve the audited annual financial statements for the year ended December 31, 2024. The bank reported a pre-tax profit of Rs 56.7 billion, despite incurring an extraordinary cost of Rs 68.0 billion due to compliance with the Supreme […]
KARACHI: March 6, 2025 – The State Bank of Pakistan (SBP) has introduced an updated mechanism for Mudarabah-based Financing Facilities (MFF), including Shariah-compliant Standing Ceiling Facility and Open Market Operations (OMO) injections, for Islamic Banking Institutions (IBIs). According to a notification issued by the central bank, these financing facilities will now be available against Government […]
Dubai, UAE: Mastercard has signed a multi-year strategic agreement with Mashreq to support its launch as a digital bank in Pakistan. Announced at a signing ceremony held at Mashreq HQ in Dubai, UAE welcoming leadership from Mashreq and Mastercard, the collaboration is to be on card portfolios across the consumer, affluent, and business market segments. The State Bank […]