Karachi, November 19, 2024 – E-Processing Systems Pvt. Ltd. (EPS) has achieved a major milestone by securing a commercial license from the State Bank of Pakistan (SBP) for its digital platform, OneZapp, to operate as an Electronic Money Institution (EMI). This breakthrough positions EPS to address financial exclusion and accelerate the adoption of digital payment […]
ISLAMABAD – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a virtual meeting on Monday with the Governor of the State Bank of Pakistan (SBP), Jameel Ahmed, and the Chairman of the Pakistan Banks’ Association (PBA), Zafar Masud, along with their respective teams. The session focused on evaluating progress and outlining new initiatives […]
KARACHI – TPL Insurance Limited, a leading provider of comprehensive insurance solutions in Pakistan, has announced a strategic collaboration with Samba Bank Limited to introduce an innovative digital transaction insurance product. This pioneering solution aims to protect Samba Bank’s customers against a range of digital transaction risks, including account takeover, unauthorized transactions, social engineering scams, […]
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has launched the Islamic Capital Market Development Committee (ICMDC) to foster growth, innovation, and resilience in Pakistan’s Islamic capital markets. The inaugural meeting of the committee, chaired by Dr. Irum Saba, Associate Professor at IBA Karachi, brought together industry experts, Shariah scholars, market stakeholders, and representatives […]
Karachi, Pakistan — Telenor Microfinance Bank (TMB), the operator of Pakistan’s leading digital financial services platform, easypaisa, has received an equity investment of $10 million from its shareholders, Telenor Group and Ant Group. The investment comes as easypaisa gears up to launch its digital retail banking operations, subject to regulatory approvals, marking a major milestone […]
Riyadh, Saudi Arabia – Merak Capital, a prominent technology-focused investment firm, has unveiled its SAR 306 million gaming fund and accelerator, Exel by Merak, to drive the growth of gaming startups and position Saudi Arabia as a global hub for gaming innovation. The launch event, held on November 17, 2024, at the VOV Gaming Centre in Riyadh, […]
In a notable development, Habib Bank Limited (HBL) and The Bank of Punjab (BoP) have announced new monthly charges on high-value accounts, effective December 20, 2024. The revisions are part of the updated Schedule of Charges for July-December 2024. HBL’s New Fee Structure HBL has introduced a 6 percent monthly fee on checking accounts with […]
Riyadh, Saudi Arabia – Bubbl, the fast-growing social networking platform, has secured $350,000 in a Pre-Seed funding round led by prominent angel investor Abdullah Al-Dosari. The app, founded by Aya Al-Hammoud and launched in March 2024, has quickly become a sensation, amassing over 60,000 daily active users within months of its debut. Rising Through the Ranks […]
The State Bank of Pakistan (SBP) has suspended the authorization of Islamabad Exchange Company (Pvt.) Limited with immediate effect due to violations of SBP’s rules and regulations. In a statement issued by the central bank, it was confirmed that the company, including its head office and all authorized branches, has been barred from conducting any […]
Riyadh — Credit card loans by Saudi banks hit a record high of SR30.27 billion ($8.07 billion) in the third quarter of 2024, marking a significant 14.24 percent increase compared to the same period last year, according to data released by the Saudi Central Bank (SAMA). The surge in credit card borrowing reflects evolving consumer preferences driven […]