In a significant move to advance digital payment solutions, the Punjab Information Technology Board (PITB) and Bookme.pk have signed an agreement to integrate and promote PayZen, PITB’s digital payment platform. The signing ceremony took place at PITB’s headquarters, where PITB Chairman Faisal Yousaf and Bookme.pk CEO Faizan Aslam formalized the partnership. Chairman Faisal Yousaf provided […]
Karachi, July 25, 2024 — In a groundbreaking move to digitize payment processes within the agricultural sector, Syngenta, a global leader in agricultural technology, has partnered with Haball, Pakistan’s largest payment aggregator solution provider. This strategic collaboration aims to revolutionize payment methods for Syngenta’s agri-based franchises across Pakistan. The partnership, facilitated through a referral by […]
Pak Oman Investment Company has chosen BenchMatrix‘s RiskNucleus Loan Origination System (LOS) to enhance its credit approval and risk management processes. This strategic decision aims to leverage cutting-edge technology to streamline loan origination and boost operational efficiency. The RiskNucleus LOS is a comprehensive solution designed to manage various aspects of the loan approval process. Key […]
In a significant move to enhance financial inclusion and drive economic growth in Pakistan, the Pakistan Microfinance Investment Company (PMIC) and the U.S. International Development Finance Corporation (DFC) have signed a Loan Portfolio Guaranty Agreement. This strategic partnership will provide a loan portfolio guaranty of up to $15 million. The initiative aims to empower women […]
Mobilink Bank, Pakistan’s leading digital microfinance bank and a subsidiary of the global digital operator VEON Group, has announced a strategic partnership with AutoSoft Dynamics, a renowned provider of core banking and financial application solutions. This collaboration aims to automate Mobilink Bank’s treasury operations, ensuring seamless integration with the State Bank of Pakistan’s (SBP) PRISM […]
Islamabad, July 25, 2024 – The auto financing sector in Pakistan has experienced a notable decline for the second consecutive year, with total outstanding loans decreasing to Rs230.5 billion in June 2024, down from Rs233 billion in May. This continued downward trend reflects a significant contraction from the June 2022 figure of Rs368 billion, amounting […]
Islamabad, July 25, 2024 — The State Bank of Pakistan (SBP) has issued comprehensive guidelines to regulate the transfer and assignment of Non-Performing Assets (NPAs) from Financial Institutions (FIs), including banks and Development Financial Institutions, to Corporate Restructuring Companies (CRCs). This move aims to ensure that such transactions are conducted in a fair, transparent, and […]
The State Bank of Pakistan (SBP) has issued new directives requiring banks to file recovery suits in court for non-performing loans (NPLs) with an outstanding principal amount exceeding Rs. 10 million at least two years before considering them for charge-off. This move aims to ensure that recovery efforts for such NPLs are not compromised. In […]
Lahore 23-07-2024: Commerce Plex, a wholly owned and fully licensed subsidiary of Simpaisa Holdings is collaborating with Faysal Bank Ltd to seamlessly integrate fintech innovation with banking expertise. This strategic alliance aims to provide increased efficiency and transparency in remittance services. With roots originating in the UK and licensed & regulated as a Foreign Money […]
Karachi, Pakistan — WeatherWalay, Pakistan’s pioneering digital weather service company, has announced a strategic partnership with Neem, a leading embedded finance platform, to introduce a seamless embedded payment solution for its customers. This collaboration aims to enhance the payment experience by offering a variety of reliable options, including cards, bank accounts, and mobile wallets, directly […]