KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMA) has lauded the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) for its decisive action to cut the policy rate by 200 basis points, bringing it to 13%, effective December 17, 2024. The decision, prompted by a significant decline in inflation to 4.9% […]
The State Bank of Pakistan (SBP) has unveiled an advanced version of its Electronic Credit Information Bureau (eCIB), termed eCIB System (V2), which is set to become operational from January 1, 2025. This upgraded system will replace the existing eCIB platform and is designed to meet evolving technological advancements and international reporting standards. The eCIB […]
KARACHI, December 18, 2024 – In a landmark initiative aimed at driving economic empowerment and gender equality, P&G Pakistan, Imtiaz Group—Pakistan’s largest retailer—and Akhuwat Islamic Microfinance have signed a Memorandum of Understanding (MoU) to provide interest-free loans to women micropreneurs. This collaboration reflects a shared commitment to fostering local entrepreneurship and supporting economic growth in […]
Lahore, Pakistan — Proparco has announced the renewal of its partnership with Kashf Foundation through a $15 million loan aimed at empowering women entrepreneurs and expanding Kashf’s client base. This marks the third collaboration between the two organizations since 2017, underscoring a shared commitment to advancing financial inclusion and gender equality in Pakistan. Founded in […]
ISLAMABAD: JazzCash, Pakistan’s largest fintech platform, has introduced a new brand identity and a redesigned app user interface (UI) aimed at enhancing the customer experience, according to a press release issued by the company. The refreshed look reflects JazzCash’s commitment to financial inclusion and innovation. The new brand identity and UI were unveiled during an […]
Karachi, Pakistan – KT Bank Pakistan Limited (under formation) has announced a strategic partnership with Sofcom Pvt Ltd, a leading provider of Payroll and Human Resource Management solutions. This collaboration aims to enhance KT Bank’s operational efficiency by streamlining payroll processes, ensuring regulatory compliance, and allowing the bank to prioritize its core banking functions. The […]
Dubai, UAE; 16 Dec 2024: Mastercard has joined forces with the Bank of Punjab (BOP) as an exclusive partner to enhance the bank’s proposition across consumer debit and credit, affluent portfolio and loyalty offerings. The collaboration seeks to transform the bank’s digital ecosystem and its customers’ digital experience. Customers of BOP’s priority banking program KHAAS will […]
Zindigi, powered by JS Bank, has announced a transformative partnership with Islamic Relief Pakistan to revolutionize the delivery of humanitarian aid through advanced digital solutions across Pakistan. This initiative aims to streamline disbursement processes, ensuring transparency and efficiency for beneficiaries in four provinces, 40 cities, the federal capital, and Azad Kashmir. The collaboration enhances the […]
Karachi, Pakistan – Neem has announced a strategic partnership with 1LINK (Pvt) Limited, Pakistan’s largest switch and payment network provider, to deliver faster, more secure, and efficient payment solutions for its users. This collaboration marks a significant milestone for Neem in its mission to simplify money movement and support the financial wellness of businesses across […]
Karachi, December 13, 2024 – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, emphasized the pivotal role of Islamic finance and capital markets in steering Pakistan towards macroeconomic stability and sustainable growth. Speaking virtually at the inaugural session of the Second International Islamic Capital Markets Conference & Expo in Karachi, Aurangzeb highlighted Pakistan’s recent economic […]