KARACHI, February 25, 2025 – The Pakistan Banking Summit 2025 (PBS’25) concluded on February 25th at the Mövenpick Hotel, Karachi, marking a groundbreaking initiative in the country’s financial landscape. Organized under the aegis of the Pakistan Banks Association (PBA), the two-day event served as a first-of-its-kind collaborative effort, bringing together key stakeholders from Pakistan’s banking […]
Islamabad, February 26, 2025: PTCL Group, the largest ICT services provider in Pakistan, is pleased to announce the appointment of seasoned banker, Tooran Asif as the new President & Chief Executive Officer (CEO) of U Microfinance Bank Limited (UBank). With a distinguished career spanning over three decades in digital and retail banking, Tooran Asif is […]
Islamabad, Pakistan – In a landmark move to enhance financial accessibility, 1LINK has joined forces with NADRA Technologies Limited (NTL) and United Bank Limited (UBL) to introduce Cash-In transactions for all banks across Pakistan. This initiative is being launched under the UBL Super Agency Agreement between NTL and UBL and will be facilitated through NADRA’s […]
KARACHI: February 2025 — The State Bank of Pakistan (SBP) has granted Wemsol Private Limited a license to commence commercial operations as an Electronic Money Institution (EMI). Under this license, Wemsol will offer e-money wallet and payment gateway services to consumers and merchants across Pakistan. The company initially received in-principle approval from SBP in September […]
The State Bank of Pakistan (SBP) has introduced the Raast Participation Criteria, outlining the minimum requirements for entities interested in joining the country’s instant payment system. This initiative aims to enhance digital payment accessibility, promote innovation, and increase competition in the financial sector. Raast: Pakistan’s Instant Payment System Launched in 2021, Raast is a state-of-the-art […]
KARACHI – Standard Chartered Bank Pakistan Limited (SCBPL) has announced a record-breaking performance for 2024, reporting a profit before tax of PKR 100.6 billion, reflecting a 13% year-on-year (YoY) growth. The Bank’s performance was driven by strong income growth of 9% YoY, with positive contributions from all business segments. Despite a high inflationary environment and […]
KARACHI: In a significant milestone for Pakistan’s financial sector, the State Bank of Pakistan (SBP) has awarded the first restricted license for pilot operations to Mashreq Bank Pakistan Limited (MBPL). The announcement was made during a special meeting attended by the SBP Governor, Deputy Governor, and senior executives, along with the Board and senior management […]
Neem, a leading financial wellness platform, has announced its strategic partnership with Wackenhut, Pakistan’s premier cash-in-transit (CIT) vehicle provider for banking and financial institutions. Through this collaboration, Neem is enabling access to earned wages for Wackenhut’s 2,500 security guards nationwide, marking a significant milestone in financial inclusion for frontline workers. Empowering Security Guards with Financial […]
Pakistan, Karachi – 21 February 2025: HBL, Pakistan’s leading bank, has partnered with Ahya Technologies, a Pakistani company specializing in AI-powered climate software, to accelerate its journey towards net-zero emissions by 2030. This collaboration underscores HBL’s commitment to sustainability, in line with the Aga Khan Development Network (AKDN) goals. This partnership provides HBL access to […]
Karachi, Pakistan – Faysal Bank Limited (FBL) has continued its strong financial trajectory in 2024, demonstrating resilience and operational excellence in its second year as a full-fledged Islamic bank. The bank reported a Profit Before Tax (PBT) of PKR 50.4 billion, reflecting a 22% year-on-year increase compared to PKR 41.4 billion in the previous year. […]