Meezan Bank Achieves Milestone as Pakistan’s First PCI 3DS Certified Bank
Meezan Bank has been certified by Risk Associates as the first bank in Pakistan to meet the PCI 3DS (Payment Card Industry Three Domain Secure) standard. This certification marks a significant step in enhancing secure online transactions and data protection within the country’s banking sector.
Editor
Dellsons Group signs partnership with UAE-based NymCard to promote fintech innovation
Pakistan’s financial consultancy firm, Dellsons Associates (Pvt) Ltd, has signed a strategic partnership with NymCard, a leading embedded finance solutions provider in MENAP, to promote innovation in the fintech landscape and empower businesses across the Middle East and Pakistan.
Real GDP grew by 1.7% in H1-F-24, macroeconomic conditions improved: SBP
The State Bank of Pakistan (SBP) report said that Pakistan’s macroeconomic conditions improved and real GDP grew by 1.7% while inflationary pressures remained at elevated levels during the first half of fiscal year 2023-24.
Adil Aziz
Emirates Group Reports Best-Ever Financial Performance for 2023-24
The Emirates Group has announced its best-ever financial performance for the fiscal year 2023-24, reporting a record profit of AED 18.7 billion (US$ 5.1 billion), a 71% increase from the previous year. The Group’s revenue rose by 15% to AED 137.3 billion (US$ 37.4 billion), driven by strong customer demand across its various businesses. The year concluded with the Group holding its highest-ever cash balance of AED 47.1 billion (US$ 12.8 billion) and declaring a dividend of AED 4.0 billion (US$ 1.1 billion) to its owner, the Investment Corporation of Dubai (ICD).
Mehfooz
High Commissioner urges business community to have duty free, quota free access to entire Africa via Mauritius
High Commissioner of Mauritius Rasidally Soobadar has urged the business community of Karachi to use Mauritius, which is ranked at 13th position in ease of doing business index, as a hub or gateway to access to 54 countries in the African Market.
SECP issues manual for complying with regulatory framework for Modarabas
The Securities and Exchange Commission of Pakistan (SECP) has released a comprehensive guide to facilitate Modaraba Companies and Modarabas in complying with requirements of the Modaraba Ordinance 1980, Modaraba Rules 1981, Modaraba Regulations 2021, and related directions and circulars.
Sindh Govt plans to establish new industrial zones
The Sindh Government is planning to establish new industrial zones across the province, mainly in Karachi, under a new industrialization policy to attract local and foreign investors and businessmen to boost up economic activities across the province.
Pakistan committed to promote green investment: Aurangzeb
Highlighting Pakistan’s vulnerability to the diverse effects of climate change, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb emphasized his country’s commitment to addressing climate change and promoting green investment opportunities.
ABHI partners with Alraedah Digital Solutions to Revolutionize Financial Services in KSA
Alraedah Digital Solutions, a leading technology company and the innovation arm of Alraedah Digital Group, is thrilled to announce a strategic partnership with ABHI, a MENAP-based Fintech specializing in Earned Wage Access and Invoice Factoring. The collaboration marks a significant milestone in Alraedah’s commitment to fostering innovation and driving regional financial inclusion.
Pak-Qatar Family Takaful achieves Rs.156.3 turnover in 2023
The Pak-Qatar Family Takaful Limited (PQFTL) announcing financial results for year 2023, informed that it achieved a turnover of Rs.16.30 billion while Shareholders Fund has posted Rs.156.30 million net profit after tax.