Financial system shows steady performance, soundness in 2023: SBP Review
“The growth in assets was primarily driven by investments in government securities while private sector advances contracted in the backdrop of stressed macro-financial conditions,” the Review noted adding that expansion of the banks’ balance sheet was mainly funded by deposits, which posted a 20-year high growth in a high return environment.
Editor
DealCart raises $3.0M to empower Pakistan’s digitally savvy consumers
DealCart, a social e-commerce startup focused on transforming the way Pakistani consumers access essential goods, has successfully raised $3 million Seed in a funding round led by Shorooq Partners and Sturgeon Capital.
Chairman EPZA urges business community to set up private EPZs
Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI) to deliver a presentation on “Private and Public Participated EPZs”, Chairman EPZA added that they have already started receiving several requests from local and foreign investors who were desirous to establish EPZs which will processed by EPZA and federal government as per pre-defined timeline.
Mehfooz
Mobilink Bank champions sustainability-driven leadership with ESG training
Pakistan’s leading digital microfinance bank, Mobilink Bank, has taken a leap forward in solidifying its position as a frontrunner in sustainable banking practices. The Bank announced the successful completion of an external training program on Environmental, Social, and Governance (ESG) practices explicitly designed for its leadership team. This in-depth training initiative equipped the Bank’s top decision-makers with the knowledge and skills necessary to integrate ESG principles into the core of their operations.
PM invites Tajikistan to use Karachi Port for transit trade
Prime Minister Shehbaz Sharif invited Tajikistan to use Karachi Port for the transit trade besides emphasizing the promotion of regional connectivity by constructing rail tracks and roads between the two countries.
Fatima Fertilizer and JazzCash Sign MOU to Pioneer Digitalization of Agri-Sector Payments
Fatima Fertilizer, a leading name in Pakistan’s agriculture sector, and JazzCash, Pakistan’s largest digital wallet, have signed a Memorandum of Understanding (MOU) to revolutionize the agri-sector payment ecosystem. This collaboration aims to drive financial inclusion and economic empowerment for farmers, who are predominantly unbanked, enabling them to actively participate in the formal economy.
Asim Iftikhar has inaugurated ‘Pakistan Pavillion’ in Texworld Evolution Paris
Ambassador of Pakistan to France Asim Iftikhar Ahmad has inaugurated ‘Pakistan Pavillion’ in Texworld Evolution Paris which would continue till July 3.
Raqami Islamic Digital Bank Selects BenchMatrix for the Implementation of RiskNucleus®
Raqami Islamic Digital Bank, one of the most prominent upcoming Islamic digital banks in Pakistan, has selected BenchMatrix’s proprietary solution, RiskNucleus® as its Anti-Money Laundering (AML) transaction monitoring solution. This selection will empower Raqami to leverage innovative technology and advanced automation for a more intelligent approach to financial crime detection.
Adil Aziz
JazzCash: Fueling financial inclusion – from transactions to transformation
JazzCash is not just about transactions; it’s about transformation and the fintech platform is driving a shift from a cash-based economy to a digital one, contributing to the vision of the State Bank of Pakistan and the government in digitizing the economy.
First, ‘Made in Pakistan’ exhibition organized in Tashkent
The Ministry of Commerce, Government of Pakistan, Trade Development Authority of Pakistan, and the Embassy of Pakistan in Tashkent are organizing the first ‘Made in Pakistan’ Exhibition from 28-30 June with the cooperation of the Government of Uzbekistan.