Karachi, Pakistan – Zarea Limited, one of Pakistan’s largest B2B commodities platforms, has announced plans to raise at least Rs1 billion ($3.59 million) through an initial public offering (IPO) at the Pakistan Stock Exchange (PSX). The company aims to offer 62.5 million shares, representing 23.81% of its post-IPO paid-up capital, at a floor price of […]
Bank Alfalah saw its consolidated profit jump to Rs39.9 billion during 2024, which is over 10% higher than its earnings in 2023. The increase in profit-after-tax (PAT) is attributed to much higher non-markup income amid a jump in commission income and massive gains on securities. As per the financial statements shared with the Pakistan Stock […]
KARACHI: In a major legal and financial breakthrough, Bank Makramah Limited (BML) has secured court approval for a settlement application, paving the way for the recovery of approximately Rs10 billion in non-performing loans (NPLs) from the Omni Group and its affiliated entities. The listed bank announced the development in a notice to the Pakistan Stock […]
Karachi, Pakistan, January 29, 2025: Visa (NYSE: V), a world leader in digital payments hosted its inaugural market focused client event – Visa Connect Karachi – last week. Attended by more than 200 participants including senior members of the State Bank of Pakistan and the Pakistani financial industry, it marked the first event of its […]
Islamabad: The Federal Board of Revenue (FBR) has directed all retailers operating under the Point of Sale (POS) system to integrate digital payment facilities, including debit and credit card machines, QR codes, or any other available digital transaction modes at all sales points. The directive was issued through S.R.O. 69(l)/2025, amending the Sales Tax Rules, […]
KARACHI: The National Bank of Pakistan (NBP) has joined forces with BenchMatrix to implement the Risk Nucleus Governance, Risk, and Compliance (GRC) System, marking a significant step in the bank’s digital transformation journey. This collaboration aims to enhance operational efficiency, ensure regulatory compliance, and reinforce adherence to compliance risk management and industry standards. The adoption […]
Islamabad, Pakistan – HBL Microfinance Bank (HBL MfB) has announced the appointment of Maya Inayat Ismail as the new Chairperson of its Board of Directors, succeeding Rayomond H. Kotwal. Maya Inayat Ismail played a key role in the establishment of HBL MfB’s predecessor organization, the First MicroFinance Bank (FMFB), Pakistan’s first microfinance institution. She has […]
Karachi – Pakistan, 17-01-2025 – In a landmark development for the financial services sector, ABHI & TPL have officially completed the acquisition of FINCA Microfinance Bank Limited. The final signing ceremony took place in the presence of prominent leaders from both organisations and key stakeholders, including Omair Ansari, CEO of ABHI, Ali Jameel, CEO of TPL Corp Limited, and Jeffery Smith, Vice President […]
Karachi, January 28, 2025 – Telenor Microfinance Bank has officially transitioned into a “Digital Retail Bank,” rebranding itself as Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited). The bank will now operate under the Banking Companies Ordinance (BCO), 1962, and will adopt the brand name easypaisa digital bank, effective immediately. The company made the announcement […]
Islamabad – Pakistan Telecommunication Company Limited (PTCL), the country’s leading ICT services provider, has joined hands with PayFast, a State Bank of Pakistan-licensed Payment Service Provider (PSP), to introduce an innovative bill payment solution via WhatsApp. This ground-breaking service allows PTCL customers to view and pay their bills directly through WhatsApp, marking a major milestone […]