KARACHI: The State Bank of Pakistan (SBP) on Monday unveiled the third National Financial Inclusion Strategy (NFIS) 2024-28, targeting an increase in the access to banking services to 75% of the adult population, up from the current 64%, over the next four years. The strategy prioritizes marginalized groups such as women, youth, persons with disabilities, […]
KARACHI, Pakistan: State Bank of Pakistan (SBP) Governor Jameel Ahmad has reiterated the central bank’s unwavering commitment to advancing financial inclusion through robust collaboration with global and domestic stakeholders. The governor made these remarks during a bilateral meeting with Dr. Alfred Hannig, Chief Executive Officer of the Alliance for Financial Inclusion (AFI), held during Dr. […]
The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8% shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited, according to a CCP press release. Under the terms of the Sale and Purchase Agreement, TPL Corp Limited will acquire a 33.17% stake, while ABHI (Private) Limited will […]
DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ — Bank Alfalah, a leading commercial bank in Pakistan with a network of over 1,000 branches, has announced its acquisition of a 9.9% equity stake in Jingle Pay, one of the fastest growing fintechs in the MENAP region. The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financial inclusion across […]
LAHORE: The Small and Medium Enterprises Development Authority (SMEDA), the State Bank of Pakistan (SBP), and the Pakistan Banks Association (PBA) have jointly developed a simplified SME Loan Application Form in line with the directive of Prime Minister Shehbaz Sharif. The form was officially unveiled during a seminar organized by SMEDA at a local hotel. […]
Hong Kong, January 13, 2025 – Pakistan plans to issue yuan-denominated bonds, known as Panda bonds, aiming to raise $200–250 million from Chinese investors within the next six to nine months. The announcement was made by Federal Minister for Finance and Revenue Muhammad Aurangzeb during the Asian Financial Forum in Hong Kong. This marks Pakistan’s […]
Islamabad, Pakistan: U Microfinance Bank Limited (U Bank) has signed a landmark partnership with CARE Pakistan and Mastercard to improve financial access for women entrepreneurs across Pakistan. The Memorandum of Understanding (MoU) was signed in Islamabad by Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, and Mr. Adil Sheraz, Country Director of […]
Karachi, January 2025 – The State Bank of Pakistan (SBP) is expected to announce a 100 basis points (bps) cut in the monetary policy rate during its upcoming meeting, following five consecutive reductions in 2024. The anticipated adjustment would bring the policy rate down to 12%, as per a report by Arif Habib Limited. The […]
Karachi: Dubai Islamic Bank Pakistan Limited (DIBPL) has joined hands with Nestle Professional to enhance customer experience at its Wajaha Priority Banking Lounges by offering a premium selection of hot beverages. The collaboration introduces an array of choices, including Nescafé and traditional beverages like Nestea Cardamom, Karak, and Kashmiri Chai, aiming to create a relaxing […]
In a remarkable achievement for Pakistan’s banking sector, six Pakistani banks have secured spots among the top 15 best-performing bank stocks in the Asia-Pacific (APAC) region, according to a report by S&P Global Market Intelligence. The report, released on Tuesday, highlights that four Pakistan-based lenders, led by United Bank Limited (UBL), ranked among the top […]