Date: December 23, 2024 Muscat, Oman – In a remarkable initiative aimed at fostering community engagement and promoting financial literacy, the National Bank of Pakistan (NBP) and Al Jadeed Exchange have announced the launch of a cricket tournament scheduled for January 2025. The announcement was made during a prestigious dinner event held in Muscat, Oman, attended by esteemed dignitaries, […]
Islamabad, Pakistan – Pakistan Telecommunication Company Limited (PTCL), the nation’s leading ICT services provider, has announced a strategic partnership with GBM Pakistan and IBM to modernize its IT infrastructure. The collaboration aims to enhance PTCL’s operational efficiency, laying the foundation for cutting-edge innovations and a comprehensive upgrade of its enterprise systems. As part of the […]
Karachi: Meezan Bank, Pakistan’s leading Islamic bank, and Arif Habib Limited (AHL), a pioneer in investment banking, have announced a strategic partnership aimed at enhancing the investor experience in Pakistan. The collaboration was formalized through a Memorandum of Understanding (MoU), signed by Syed Amir Ali, Deputy Chief Executive Officer of Meezan Bank, and Shahid Ali […]
December 19, 2024 KARACHI: Hutchison Ports KICT has partnered with Standard Chartered Bank Pakistan and Haball to implement an innovative digital payment solution aimed at streamlining and automating its payment systems. This collaboration positions Standard Chartered as one of KICT’s core banking partners, providing real-time, API-driven reporting and account rationalisation. The newly integrated payment platform, […]
Islamabad, December 21, 2024 – The State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Review for Q1 FY25, showcasing the country’s significant progress towards a cashless and digitally inclusive economy. Covering the period from July to September 2024, the report highlights a surge in digital payment adoption, infrastructure development, and a gradual […]
Karachi: The State Bank of Pakistan (SBP) has announced the adoption of AAOIFI Shariah Standard No. 59 on the Sale of Debt, aimed at standardizing and harmonizing Shariah practices across Islamic Banking Institutions (IBIs). The decision, effective immediately, comes with certain clarifications and amendments to ensure compliance. In a statement, the SBP emphasized that this […]
ISLAMABAD, December 17, 2024 – This initiative marks a revolutionary development as a result of the significant meetings held by Chairperson Benazir Income Support Programme (BISP), Senator Rubina Khalid and Secretary BISP, Amer Ali Ahmad with representatives of the Bill & Melinda Gates Foundation and Karandaaz Pakistan, an impact investment platform dedicated to driving sustainable economic […]
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 […]