Karachi, Pakistan — National Bank of Pakistan (NBP) has taken a pioneering step as the first conventional bank to introduce a co-badged debit card, blending the features and benefits of both PayPak and Mastercard networks. The official signing ceremony for the NBP PayPak Mastercard Debit Card Project was held recently, presided over by Mr. Rehmat […]
Islamabad: November 15, 2024 Bank Alfalah Limited (BAFL) has received in-principle approval from the State Bank of Pakistan (SBP) and the Bangladesh Bank to allow Hatton National Bank PLC (HNB) of Sri Lanka to conduct due diligence on its operations in Bangladesh. This update was announced by BAFL in a notice to the Pakistan Stock […]
In a recent development, Bank Alfalah Limited (BAFL), one of Pakistan’s leading commercial banks, has officially withdrawn its public announcement of intention (PAI) to acquire a majority stake in Samba Bank Limited. The decision follows the Saudi National Bank’s (SNB) termination of its plans to divest its approximately 84.51% stake in Samba Pakistan. BAFL had […]
Karachi, Pakistan, November 13, 2024 – Meezan Bank, Pakistan’s leading Islamic bank, has entered into a strategic alliance with CashNow, Pakistan’s pioneering supply chain finance platform, to revolutionize Shariah-compliant supply chain finance. A Memorandum of Understanding (MoU) was signed at Meezan Bank’s Head Office in the presence of senior management from both organizations. This partnership, the first […]
Karachi, Pakistan – Saleem Ullah, Deputy Governor of the State Bank of Pakistan (SBP), emphasized the need for Pakistan to fully adopt a comprehensive Islamic financial system beyond conventional banking alternatives. Speaking at the 8th International Conference on Islamic Banking and Finance (ICIBF 2024) hosted by the Institute of Business Management (IoBM) on Tuesday, he […]
KARACHI: Rehmat Ali Hasnie, President of the National Bank of Pakistan (NBP), underscored the pivotal role of the financial sector in propelling Pakistan’s economic growth during his recent address at The Future Summit. He emphasized that the financial sector should be viewed not merely as a gateway to basic banking services, but as a fundamental […]
In a significant move to enhance customer service standards, the Banking Mohtasib Pakistan has amended the Banking Companies Ordinance, reducing the response time for banks to address customer complaints from 45 days to 30 days. The amendment, aimed at accelerating resolution times and improving the banking experience for customers, was published in the Extraordinary Gazette […]
Islamabad, Pakistan – Standard Chartered Bank (SCB) Pakistan has rolled out an upgraded IATA EASY PAY solution, uniquely customized for the Pakistan market. This advanced solution is designed to streamline BSP ticketing and payment processes for International Air Transport Association (IATA) agents across the country, offering them a seamless, efficient, and closed-loop payment mechanism. The […]
Karachi: TPL Corp Limited (PSX: TPL) and Abhi Private Limited have received final approval from the State Bank of Pakistan (SBP) to acquire a 94.8% stake in FINCA Microfinance Bank Limited. This approval comes as the companies proceed with their previously announced acquisition plans, marking a significant milestone in Pakistan’s microfinance landscape. According to a […]
ISLAMABAD: Askari Bank is advancing its role in digital financial services with the launch of Pakistan’s first comprehensive cashless ecosystem initiative. This innovative project, aimed at building cashless communities, reflects the bank’s mission to bring customers closer through digital transformation and financial inclusion. Askari Bank’s digital journey has already seen pioneering efforts, including an indigenous […]