QisstPay Gets Pakistan’s First Non Banking Finance Company License
For the first time in the country’s bleak startup history, the Securities and Exchange Commission of Pakistan (SECP) has awarded a Non-Banking Finance License to the highly popular Buy Now Pay Later (BNPL) startup QisstPay According to the company’s co-founder and CEO, Jordan Olivas, this license is a huge first for the business. With it,…
Adil Aziz
PAKISTAN, ADB sign agreement for US$1.54 Billion financing
ISLAMABAD: Pakistan on Wednesday signed six agreements with the Asian Development Bank (ADB) to obtain financing of US$1.54 billion The agreements were signed by the secretary of economic affairs division and country director of the ADB in the presence of Minister for Economic Affairs Omar Ayub Khan. Under the agreements, US$300 million would be provided…
Cabinet approves the Strategic Trade Policy Framework (STPF) till 2025
The STPF 2020-25 aims to enhance the ability of Pakistani enterprises The Cabinet today approved the Strategic Trade Policy Framework (STPF) till 2025. It aims to enhance the ability of Pakistani enterprises’ capacity to produce, distribute and sell products and services more efficiently than our competitors. Priority sectors have been identified under the STPF after…
SBP Announces new measures to restrict Dollar trade
State Bank of Pakistan (SBP) has tightened the rules governing the sale and purchase of foreign exchange in an effort to discourage “speculative” buying and selling of the US dollar According to a notification issued by the central bank, all exchange companies will have to ensure that no individual purchases foreign exchange of more than…
Governor SBP Dr. Reza Baqir appreciates banks for providing agriculture credit of over Rs1.3 trillion during FY21 and sets target of Rs1.7 trillion for FY22
Dr. Reza Baqir, Governor State Bank of Pakistan, chaired the annual meeting of Agricultural Credit Advisory Committee (ACAC) today in Multan. He lauded banks performance in achieving the unprecedented level of agriculture credit disbursement of Rs1.4 trillion in FY21. He appreciated the fact that despite Covid19 pandemic challenges, collective efforts of 50 financial institutions under…
Zameen.com Organizes Another Property Sales Event in Faisalabad
Zameen.com organized a three-day successful Property Sales Event (PSE) in Faisalabad. The latest PSE in the industrial metropolis was attended by a number of families. This month’s event showcased a total of 17 premium real estate projects for the perusal of potential buyers and investors. Some of the projects represented include Sitara Icon Tower, The…
Monetary Policy Statement
At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 100 basis points to 9.75 percent. The goal of this decision is to counter inflationary pressures and ensure that growth remains sustainable. Since the last meeting on 19th November 2021, indicators of activity have remained robust while inflation and the…
Fatima Fertilizer earns global recognition through Guinness World Record
Fatima Fertilizer became the first company to have clocked 60,220,000 safe man-hours, which the highest accomplishment within the Global fertilizer industry. This landmark achievement was only made possible by demonstrating the highest safety performance through the implementation of world class safety standards and industry best practices. As the world’s unrivalled authority on record-breaking achievements, the…
MMBL Partners with VRG to equip non-smartphone customers with self-service banking Via the USSD channel
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has signed an agreement with Virtual Remittance Gateway (VRG), a veteran mobile financial services platform for banking customers, and Pakistan’s only commercial licensed Third-Party Service Provider (TPSP). Under this partnership, MMBL’s non-smartphone users will be able to use their bank accounts via Unstructured Supplementary Service Data…
PSX Lists Second GEM Board Company
Pakistan Stock Exchange (PSX) lists the second company on its Growth Enterprise Market (GEM) Board, Universal Network Systems Limited (UNS). It is the first company in the e-commerce logistics sector to be listed on PSX GEM Board. The GEM Board is a listing platform created to facilitate growth enterprises, whether small, medium or greenfield businesses,…