Islamabad, Pakistan – Mobilink Bank, Pakistan’s leading digital microfinance institution, has announced a strategic partnership with fintech innovator NymCard and technology consultancy Dellson Associates to accelerate digital financial services and cross-border enablement. This collaboration marks a significant milestone in reshaping the future of financial inclusion in Pakistan. Under this alliance, NymCard will integrate its cutting-edge […]
Bank of Khyber (BoK) has formally initiated its transition into a full-fledged Islamic bank, the bank shared the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “The bank has initiated the process for conversion from conventional to Islamic bank,” BoK said. The development comes as Islamic banking in Pakistan has seen […]
February 20, 2025: In a major step towards enhancing international collaboration in Islamic finance, Meezan Bank, Pakistan’s leading Islamic bank, and the Participation Banks Association of Türkiye (TKBB) have signed a Memorandum of Understanding (MoU) to foster innovation, knowledge sharing, and capacity building in the sector. The MoU was exchanged during the official state visit […]
Karachi: HBL has announced a record profit before tax of Rs 120.3 billion for the year ended December 31, 2024, reflecting a 6% increase compared to 2023. The bank’s profit after tax stood at Rs 57.8 billion despite a substantial increase in the tax rate on banks to 54%. The earnings per share (EPS) for […]
Islamabad – The Ministry of Information Technology and Telecommunication (MoIT&T) is actively engaged in discussions with global payment giant PayPal to facilitate its entry into the Pakistani market, Minister for Finance and Revenue Senator Muhammad Aurangzeb informed the National Assembly in a written response. He stated that the State Bank of Pakistan (SBP) has expressed […]
Karachi – United Bank Limited (UBL), one of Pakistan’s largest commercial banks, has announced record-breaking consolidated earnings of Rs75.78 billion for the year ending December 31, 2024, marking a significant 34% increase from its profit-after-tax of Rs56.47 billion in 2023. The profit includes Rs74.84 billion from continued operations and Rs938.61 million from discontinued operations during 2024. […]
Karachi, February 18: Being at the forefront of end-user facilitation and creating ease of doing business, the Central Depository Company of Pakistan Limited (CDCPL) has signed an important Memorandum of Understanding (MoU) with the Insurance Association of Pakistan (IAP) to enable and provide the Life Insurance Policy Finder for policyholders and their beneficiaries. The MoU was […]
Karachi, Pakistan – Shareholders of Silkbank Limited (PSX: SILK) have approved the proposed amalgamation of the bank into United Bank Limited (PSX: UBL), pending regulatory approvals. The merger will proceed under Section 48 of the Banking Companies Ordinance, 1962, with final authorization required from the State Bank of Pakistan (SBP) and the Competition Commission of […]
Islamabad: Yango Pakistan, a subsidiary of the global tech company Yango Group, has announced a strategic partnership with Elixs Bikes to introduce cost-effective electric bikes (EV bikes) for its partner drivers. The initiative, which will soon be extended to couriers, marks a significant step towards sustainable and economical urban mobility. Through this collaboration, Elixs Bikes […]
barq Holding, the parent company of barq Financial, has officially launched its barq Digital Wallet in Pakistan as part of its international expansion strategy. The move aims to enhance digital payment solutions and promote financial inclusion in the region. The launch follows the remarkable success of the barq Financial app in Saudi Arabia, where it has emerged […]