Carrefour and Bank Alfalah introduce new ‘Buy Now, Pay Later’ service
Carrefour brings ease for its customers with the opportunity to shop now and pay later Innovative solution reflects the rising demand for payment flexibility Carrefour, owned and operated by Majid Al Futtaim in Pakistan, has signed a Memorandum of Understanding (MoU) with Bank Alfalah to launch its first ‘Buy Now, Pay Later’ initiative. This first-of-its-kind…
Adil Aziz
Finance ministry contests rating action by Moody’s
The Finance Ministry strongly contested the Moody’s rating action, which it said was carried out unilaterally without prior consultations and meetings with its teams and State Bank of Pakistan. Moody’s has released the revised rating for Pakistan in which it has downgraded the sovereign credit rating from B3 to Caa1. “The rating action by Moody’s is…
Bank of the Future Forum will bring together influencers & key decision makers from Pakistan’s banking sector
NdcTech, a leading IT & consulting firm providing transformational services for the banking sector globally and Temenos, the world’s leading banking software company are pleased to co-host the 11th edition of Bank of The Future Forum. It is one of the largest financial conferences in the world, happening on 12th October 2022 at a local…
SC suspends BHC verdict in Reko Diq corruption case
The Supreme Court on Thursday suspended the Balochistan High Court’s (BHC) order and also dismissed bails granted to the accused. A three-member SC bench comprising Chief Justice Umar Ata Bandial, Justice Ijaz Ul Ahsan and Justice Syed Mansoor Ali Shah heard the case against the BHC’s verdict of awarding bails to the accused. During the…
FDI increases by 88pc in August
The Foreign Direct Investment (FDI) into the country increased by 87.94 percent on month-on-month basis during August 2022 against the inflows of July 2022. The FDI inflows were recorded at $ 110.7 million in August 2022 as against an inflow of $ 58.9 million in July 2022, says ‘Economic Update and Outlook for September 2022’….
ADB to provide up to US$ 2.5 Billion under flood relief support to Pakistan this month: Country Director
The Asian Development Band (ADB) will provide flood relief support to Pakistan to the tune of US$ 2.3 to 2.5 billion including US$ 1.5 billion for the BRACE program which will be placed before the ADB Board for approval during this month, Country Director ADB for Pakistan Yong Ye told Finance Minister Senator Mohammad Ishaq…
Faysal Bank & K-Electric Collaborate for Customer’s Relief in times of Economic Crunch
Faysal Bank Limited (FBL), one of the leading Islamic Banks in the country, and K-Electric have come together to ease customer’s payment burden in times of economic crunch. As part of the collaboration, Faysal Islami Noor Card holders will now be able to pay their electricity bills through easy installment plan options of up to…
Modalities to reduce winter gas shortfall discussed
Modalities for provision of adequate gas supply for domestic and industrial consumption and reducing the shortfall in the winter season were discussed during a meeting. The meeting was presided over by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, said a press statement issued by finance ministry. Among others, the meeting was attended…
Meezan Bank wins ‘Best Company in Financial Category’ award
Meezan Bank, Pakistan’s leading Islamic bank has been conferred with the top honour in the Financial Sector category at the Management Association of Pakistan’s (MAP) 37th Corporate Excellence Awards ceremony held recently, at Movenpick Hotel, Karachi. The Award recognizes Meezan Bank for its outstanding performance and demonstrating progress and enlightened management practices. Founding President and…
Services’ trade deficit shrinks 9.84% as exports grow by 8.25% in 2 months
On year-on-year basis, the services exports during the month of August 2022 grew by 4 percent to US$575.14 million against the exports of US $ 553 million during August 2021 The services trade deficit shrunk by 9.84 percent as exports witnessed growth of 8.25 percent during the first two months of the current fiscal year…