Invest2Innovate (i2i) has officially launched the Pakistan Startup Ecosystem Report 2024 (PSER 2024), marking the fourth edition of its flagship initiative. The report was unveiled during a high-profile event held at a local hotel, which brought together prominent leaders from Pakistan’s entrepreneurial ecosystem, including investors, policymakers, and other key stakeholders. The report arrives at a […]
PayFast delighted to introduce Mahwish Saad Khan as their Chief Business Officer (CBO). With an impressive track record spanning both banking and fintech, Mahwish will lead PayFast in transforming the digital payments landscape in Pakistan. As a licensed payment service provider (PSP) and Merchant service provider (MSP) by the State Bank of Pakistan (SBP) for […]
The global South Asian ethnic wear market is set to reach $129 billion by 2030, with digital spending projected to drive nearly $46 billion of this growth. Leading the charge in this evolving landscape is LAAM, a premier fashion marketplace for South Asian apparel, which has announced a $5.5 million seed funding round to expand […]
In a groundbreaking move aimed at fostering a culture of savings and investment, the State Bank of Pakistan (SBP) is set to unveil InvestPak, an innovative platform that will enable individuals and corporations to directly invest in government securities. This initiative is designed to bypass intermediaries such as banks, offering investors the opportunity to earn […]
MCB Bank Limited (PSX: MCB) has announced the appointment of Muhammad Nauman Chughtai as its new President and Chief Executive Officer. The decision was approved by the bank’s Board of Directors during a meeting held on December 11, 2024, according to a notice issued to the Pakistan Stock Exchange (PSX). Muhammad Nauman Chughtai’s appointment will […]
Karachi, Pakistan – November 2024 – Systems Limited, a global system integrator and services provider, proudly announces a landmark agreement with the State Bank of Pakistan (SBP) to upgrade and modernize its Core banking platform to the latest Temenos core banking software and implementation of best-in-class Temenos Payment Hub to modernize the Payment Infrastructure of the Central Bank. […]
LAHORE: The Punjab Information Technology Board (PITB) has joined forces with the Punjab Cooperative Housing Society (PCHS) to implement its innovative PayZen initiative, aiming to digitize and optimize payment processes within the society. The agreement, signed on Tuesday, establishes PayZen as the primary platform for all types of payments within PCHS, promising enhanced efficiency, transparency, […]
The State Bank of Pakistan (SBP) has issued new directives to banks and microfinance banks (MFBs) to bolster the security of financial transactions conducted through mobile apps and internet banking portals. The central bank has mandated the replacement of one-time passwords (OTPs) sent via SMS with Transaction PIN (TPIN) or Financial PIN (FPIN) functionality by […]
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has approved its Strategic Action Plan 2024-2026, aimed at advancing Islamic finance across all non-bank financial sectors under its regulatory ambit. The plan, developed in collaboration with key stakeholders, seeks to enable Islamic finance across regulated sectors by December 2026 and pave the way for a […]
The federal government has revised the profit rates on National Savings Schemes (NSS), with significant cuts of up to 250 basis points, effective December 10, 2024. According to data released by Arif Habib Limited (AHL), the profit rate for the Regular Income Certificate (RIC) has been reduced by 10 basis points, bringing it to 12.00%. […]