The National Incubation Center, supported by Ignite – National Technology Fund under the Ministry of IT and Telecom Pakistan, has announced the opening of applications for its 2024 cohort. This initiative aims to attract visionary founders with a passion for building impactful companies. Entrepreneurs with innovative ideas and a drive to disrupt industries are encouraged…
New guidelines aim to prioritize borrower protection and curb deceptive marketing tactics in the digital lending sector. In a bid to safeguard borrower interests and promote ethical conduct within the digital lending sector, the Securities and Exchange Commission of Pakistan (SECP) has rolled out comprehensive guidelines for Non-banking financial companies (NBFCs) engaged in digital lending…
Karachi, 30th September 24: President and CEO of Faysal Bank Ltd. Yousaf Hussain has been elected as the new president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2024-2026 term. The announcement was made during the Chamber’s Extraordinary General Meeting held on Monday. In addition to the president, Managing Director and CEO…
Palo Alto, California – October 4, 2024Farmdar, an agritech startup leveraging AI and space technologies to optimize agricultural productivity, has successfully raised a pre-Series A funding round led by Silicon Valley-based venture capital firm, Moment Ventures. The round also saw participation from existing investor Indus Valley Capital. This marks the first Silicon Valley-led investment in…
Easypaisa Unveils Enhanced Credit Score Feature to Empower Financial Literacy easypaisa, Pakistan’s leading digital payment platform, has launched an enhanced credit score feature on its app, marking a significant milestone in advancing financial literacy and empowering users on their digital banking journey. This innovative feature is designed to elevate consumers’ financial awareness by providing deep…
KARACHI, September 2024 — Pakistan Telecommunication Company Limited (PTCL) and the International Finance Corporation (IFC)-led consortium celebrated a landmark financing agreement to facilitate PTCL’s acquisition of Telenor Pakistan and Orion Towers (Private) Limited. The acquisition, valued at Rs 108 billion, is subject to regulatory approvals and marks a pivotal moment in Pakistan’s telecom sector. PTCL…
MCB Bank Receives Shareholder Approval for Transfer of 39 Branches to Islamic Operations Karachi, July 8, 2024 – MCB Bank Limited (PSX: MCB) has secured shareholder approval to incorporate 39 branches, along with all associated rights and obligations, into its Islamic banking operations. This significant development was communicated to the Pakistan Stock Exchange (PSX) on…
Fauji Fertilizer Company Partners with Agrilift to Transform Agriculture in Pakistan Fauji Fertilizer Company (FFC), renowned for its motto “Partner in Prosperity,” has entered a strategic partnership with Agrilift to revolutionize agricultural practices across Pakistan through the integration of cutting-edge Agtech solutions. This collaboration aims to modernize farming practices, thereby enhancing national food security and…
Lahore, August 19, 2024 – The LUMS Centre for Entrepreneurship (LCE) has announced the launch of the Women Leadership Programme, a pioneering initiative aimed at empowering women in Pakistan’s textile industry. This strategic partnership with the German Development Cooperation, funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and supported by the…
The profitability of Pakistan’s banking sector decelerated significantly in the first half of 2024, with after-tax profit growing by just 1.1% to Rs. 287 billion, according to the State Bank of Pakistan’s (SBP) Mid-Year Performance Review of the Banking Sector. This slowdown was driven by reduced growth in advances and declining returns on earning assets…
