Board declares Rs. 9.00 per share dividend; Total dividend reaches Rs. 27.00 per share for the nine months. MCB Bank Limited (MCB) has announced its financial results for the nine-month period ending September 30, 2024, demonstrating strong performance across all key financial indicators. The Bank’s Board of Directors, chaired by Mian Mohammad Mansha, approved the […]
KARACHI – United Bank Limited (UBL) has announced its financial results for the third quarter of 2024, posting a record profit of Rs. 18.3 billion, translating to earnings per share (EPS) of Rs. 14.96. This marks a significant 24 percent year-on-year (YoY) and quarter-on-quarter (QoQ) growth. According to Topline Securities, this is the highest-ever quarterly […]
In a significant move toward establishing a fully interest-free financial system in Pakistan, the Senate has passed the 26th Constitutional Amendment Bill, 2024, setting January 1, 2028, as the deadline for the elimination of Riba (interest-based banking). This landmark decision follows years of debate over the role of Islamic banking in the country’s economic framework. […]
Dubai, 22 October 2024 – Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT) region, has entered into a strategic agreement with Partior, a blockchain-based payment clearing and settlement platform. This collaboration positions Emirates NBD as the first regional bank to offer real-time payment settlements in UAE Dirhams, Saudi Riyals, […]
Islamabad: Mobilink Bank has reaffirmed its commitment to gender equality and financial inclusion by securing an impressive score of 82.7 on the State Bank of Pakistan’s Women Friendliness Grid. This achievement marks a significant improvement from last year’s score of 71.79, underscoring the Bank’s dedication to fostering a supportive environment for women borrowers and entrepreneurs, […]
Dubai, UAE – October 2024: JazzCash, the fintech arm of Pakistan’s leading digital operator Jazz, a VEON Group company, has been recognized with the prestigious ‘Pioneering Telco to Launch Tap on Phone’ award at the Mastercard Payment Leaders Awards. The award ceremony took place during the Mastercard EDGE 2024 event in Dubai. This accolade highlights […]
Meezan Bank Limited (PSX: MEBL) reported strong financial results for the nine months ending September 30, 2024 (9MCY24), with earnings reaching Rs. 78.3 billion, marking an impressive 34% year-on-year (YoY) growth. The rise in profitability was driven by a significant increase in total income, as highlighted by Arif Habib Limited. For the third quarter of […]
Dubai, UAE – October 18, 2024: Pakistan’s IT industry made a remarkable impact at GITEX Global 2024 in Dubai, where the country was honored as the “Tech Destination of the Year.” This recognition highlighted Pakistan’s rapidly growing influence in the global tech ecosystem, as over 200 companies, startups, and industry experts from the country participated […]
Islamabad, October 2024 – In a landmark development for Pakistan’s financial sector, the State Bank of Pakistan (SBP) has announced the successful integration of its Raast payment system with the Arab Monetary Fund’s (AMF) Buna cross-border payment platform. This historic collaboration allows for real-time, secure, and cost-effective payments between Pakistan and the Arab region, significantly […]
Islamabad – The National Database and Registration Authority (NADRA) has taken a major leap in its service delivery by signing an agreement with the Bank of Punjab (BOP) to facilitate digital payments for its services. The partnership marks a significant step towards streamlining and modernizing payment processes for NADRA’s vast array of public services. Under […]