Askari Bank Limited (PSX: AKBL) posted a profit-after-tax (PAT) of Rs. 5.9 billion for the third quarter of the calendar year 2024 (3QCY24), reflecting a 4.4 percent increase over the same period last year. The earnings per share (EPS) for the quarter was recorded at Rs. 4.13. For the nine-month period ending September 30, 2024 […]
Washington, DC – On the final day of his visit to Washington, DC, Federal Minister for Finance and Revenue, Muhammad Aurangzeb, wrapped up a series of strategic meetings with global financial leaders and institutions during the Annual Meetings of the World Bank Group and IMF. The Minister engaged in high-level discussions to bolster Pakistan’s financial […]
Karachi, Pakistan – October 2024 – Faysal Bank Limited (FBL), a prominent player in Pakistan’s Islamic banking sector, has posted a strong financial performance for the nine months ending on September 30, 2024. The Bank reported a Profit After Tax (PAT) of PKR 19.8 billion, marking an impressive 64% increase from the same period last […]
Karachi – October 25, 2024: BankIslami Pakistan Limited continues its impressive growth trajectory, posting a 33.6% increase in profit before tax for the nine months ending September 2024. The bank’s profit before tax reached Rs. 19.9 billion, while its post-tax profit surged by 20.5%, reaching Rs. 10.2 billion. This strong performance comes despite challenging economic […]
KARACHI – United Bank Limited (UBL) has announced its financial results for the third quarter of 2024, posting a record profit of Rs. 18.3 billion, translating to earnings per share (EPS) of Rs. 14.96. This marks a significant 24 percent year-on-year (YoY) and quarter-on-quarter (QoQ) growth. According to Topline Securities, this is the highest-ever quarterly […]
In a significant move toward establishing a fully interest-free financial system in Pakistan, the Senate has passed the 26th Constitutional Amendment Bill, 2024, setting January 1, 2028, as the deadline for the elimination of Riba (interest-based banking). This landmark decision follows years of debate over the role of Islamic banking in the country’s economic framework. […]
Islamabad, October 2024 – In a landmark development for Pakistan’s financial sector, the State Bank of Pakistan (SBP) has announced the successful integration of its Raast payment system with the Arab Monetary Fund’s (AMF) Buna cross-border payment platform. This historic collaboration allows for real-time, secure, and cost-effective payments between Pakistan and the Arab region, significantly […]
Islamabad, October 18, 2024 – The State Bank of Pakistan (SBP) announced on Thursday that Raast, the country’s first instant payment system, has successfully processed 892 million transactions amounting to a total of Rs. 20 trillion. In an official statement, the central bank highlighted the rapid growth of Raast, noting that the most recent Rs. […]
ISLAMABAD: The State Bank of Pakistan (SBP) has forecasted real GDP growth of 2.5-3.5% for the fiscal year 2025, slightly below the government’s target of 3.6%, according to its Annual Report for 2023-2024, released on Thursday. In the report, titled The State of Pakistan’s Economy, the SBP highlighted that Pakistan’s macroeconomic conditions showed significant improvement […]
KARACHI: The State Bank of Pakistan (SBP) will celebrate Women Entrepreneurship Day (WED) on November 19, 2024, with an event aimed at recognizing and promoting the vital role of women entrepreneurs in the country’s economy. The event will be inaugurated by SBP Governor Jameel Ahmad at the SBP headquarters and will gather top officials from […]