Meezan Bank and Arif Habib Limited Launch Instant Top-Up Service for Investors

Meezan Bank and Arif Habib Limited Launch Instant Top-Up Service for Investors

Karachi: Meezan Bank, Pakistan’s leading Islamic bank, and Arif Habib Limited (AHL), a pioneer in investment banking, have announced a strategic partnership aimed at enhancing the investor experience in Pakistan. The collaboration was formalized through a Memorandum of Understanding (MoU), signed by Syed Amir Ali, Deputy Chief Executive Officer of Meezan Bank, and Shahid Ali…

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Daewoo Express, Saudi Pak Consortium to finance Rs. 2,000 million, for EV and Euro III intercity Buses

Daewoo Express, Saudi Pak Consortium to finance Rs. 2,000 million, for EV and Euro III intercity Buses

ISLAMABAD, Dec 22: Daewoo Pakistan Express Bus Service Limited (Daewoo Express) has signed a landmark agreement with a consortium of Development Financial Institutions (DFIs), led by Saudi-Pak Industrial and Agricultural Investment Company Limited, to secure a 5-year lease financing facility worth Rs 2,000 million. The funding will facilitate the procurement of Electric Vehicles (EV) and…

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Hutchison Ports KICT launches 24/7 Digital Payment solution with Standard Chartered and Haball

Hutchison Ports KICT launches 24/7 Digital Payment solution with Standard Chartered and Haball

December 19, 2024 KARACHI: Hutchison Ports KICT has partnered with Standard Chartered Bank Pakistan and Haball to implement an innovative digital payment solution aimed at streamlining and automating its payment systems. This collaboration positions Standard Chartered as one of KICT’s core banking partners, providing real-time, API-driven reporting and account rationalisation. The newly integrated payment platform,…

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Digital Channels Now Handling 87% of Retail Payments in Pakistan

Digital Channels Now Handling 87% of Retail Payments in Pakistan – Says SBP

Islamabad, December 21, 2024 – The State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Review for Q1 FY25, showcasing the country’s significant progress towards a cashless and digitally inclusive economy. Covering the period from July to September 2024, the report highlights a surge in digital payment adoption, infrastructure development, and a gradual…

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SBP Introduces Revised Regulatory Framework for Exchange Companies

SBP Adopts AAOIFI Shariah Standard No. 59 to Standardize Islamic Banking Practices

Karachi: The State Bank of Pakistan (SBP) has announced the adoption of AAOIFI Shariah Standard No. 59 on the Sale of Debt, aimed at standardizing and harmonizing Shariah practices across Islamic Banking Institutions (IBIs). The decision, effective immediately, comes with certain clarifications and amendments to ensure compliance. In a statement, the SBP emphasized that this…

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Karandaaz Pakistan Partners with BISP

Karandaaz Pakistan Partners with BISP to Enhance Digital Payments and Financial Literacy

ISLAMABAD, December 17, 2024 – This initiative marks a revolutionary development as a result of the significant meetings held by Chairperson Benazir Income Support Programme (BISP), Senator Rubina Khalid and Secretary BISP, Amer Ali Ahmad with representatives of the Bill & Melinda Gates Foundation and Karandaaz Pakistan, an impact investment platform dedicated to driving sustainable economic…

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SBP Introduces Revised Regulatory Framework for Exchange Companies

ICMA welcomes SBP Policy Rate Cut as a strategic step towards Economic Recovery

KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMA) has lauded the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) for its decisive action to cut the policy rate by 200 basis points, bringing it to 13%, effective December 17, 2024. The decision, prompted by a significant decline in inflation to 4.9%…

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SBP Introduces Revised Regulatory Framework for Exchange Companies

SBP Launches Advanced eCIB System (V2) to Modernize Credit Reporting

The State Bank of Pakistan (SBP) has unveiled an advanced version of its Electronic Credit Information Bureau (eCIB), termed eCIB System (V2), which is set to become operational from January 1, 2025. This upgraded system will replace the existing eCIB platform and is designed to meet evolving technological advancements and international reporting standards. The eCIB…

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P&G Pakistan, Imtiaz Group, and Akhuwat Partner

P&G Pakistan, Imtiaz Group, and Akhuwat Partner to Empower Women Micropreneurs with Interest-Free Loans

KARACHI, December 18, 2024 – In a landmark initiative aimed at driving economic empowerment and gender equality, P&G Pakistan, Imtiaz Group—Pakistan’s largest retailer—and Akhuwat Islamic Microfinance have signed a Memorandum of Understanding (MoU) to provide interest-free loans to women micropreneurs. This collaboration reflects a shared commitment to fostering local entrepreneurship and supporting economic growth in…

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Proparco Partners with Kashf Foundation

Proparco Partners with Kashf Foundation Through $15M Loan to Empower Women Entrepreneurs in Pakistan

Lahore, Pakistan — Proparco has announced the renewal of its partnership with Kashf Foundation through a $15 million loan aimed at empowering women entrepreneurs and expanding Kashf’s client base. This marks the third collaboration between the two organizations since 2017, underscoring a shared commitment to advancing financial inclusion and gender equality in Pakistan. Founded in…

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