Automobile: car’s sale rises 118% in Feb 2024
Sale of cars in the country witnessed an increase of 118.36 per cent in February 2024, according to Pakistan Automobile Manufacturing Association.
Editor
PSX lists Mahaana Islamic index exchange traded fund
Pakistan Stock Exchange has listed the Mahaana Islamic Index Exchange Traded Fund (MIIETF) managed by Mahaana Wealth Limited (MWL). The commencement of trading of units of MIIETF has taken place with effect from March 11, 2024. The ETF aims to track the performance of Mahaana Islamic Index (MII30) whereby the Index shall be periodically rebalanced and reconstituted in order to provide long term appreciation and dividend yield to investors. The Index is designed to measure the performance of top 30 Shariah compliant companies selected from KMI All share index constituents based on the free float market capitalization, having at least average daily value traded of PKR. 10 million in last 12 months.
Mehfooz
Mobilink Bank and BizB partner to drive financial inclusion, empowering women micro-entrepreneurs
Mobilink Bank partnered with BizB, a leading marketplace in Pakistan, welcoming the company as a ‘Brand Ambassador Organization,’ to drive financial inclusion and bolster women micro-entrepreneurs nationwide.
Banks to closed for public dealing on 1st Ramazan: SBP
The State Bank of Pakistan will remain closed for public dealing on 1st Ramadan-ul-Mubarak, 1445
A.H., which shall be observed as ‘Bank Holiday’ for the purpose of deduction of Zakat.
Adil Aziz
Pakistan starts fruit delivery to Russia via land route
Pakistan has achieved a milestone in regional trade as transportation of fruits has been started to Russia via land route.
JS Bank, Zindigi Unveil HER Debit Cards on International Women’s Day
JS Bank and Zindigi announced the launch of the JS HER Debit Card and the HER Zindigi Debit Card on International Women’s Day, marking a commitment to women’s empowerment and financial inclusion.
DG Custom Valuation visits FPCCI review time should be reduced & valuations updated
Mr. Atif Ikram Sheikh, President FPCCI, has apprised that during the visit of Director General of Custom Valuation to FPCCI Head Office in Karachi, it has been agreed, in principle, to work together to reduce review time from 30 days to as low as possible to facilitate country’s trade and industrial production – which is the cornerstone of any economy to create jobs, generate revenues and achieve economic growth. The business community would like to see review time vis-à-vis custom valuation come down to 7 days and we will make it part of FPCCI’s proposals for the federal budget 2024 – 25 as well.
PTCL Group in collaboration with PPAF bridges digital gap by equipping women with smartphones
n celebration of International Women’s Day, Pakistan’s largest telecommunications and integrated ICT services provider, PTCL Group, joined hands with Pakistan Poverty Alleviation Fund (PPAF) and National Rural Support Programme (NRSP) to empower 100 women entrepreneurs in Haripur, Khyber Pakhtunkhwa. This initiative is part of the “Ba-Ikhtiar” program, a year-long endeavor to bridge the digital divide and equip women with the essential tools and financial knowledge necessary for building sustainable businesses.
SECP notifies amendments to Corporate Restructuring Companies Rules, 2019
The Securities and Exchange Commission of Pakistan (SECP), under the auspices of the federal government, has notified amendments to the Corporate Restructuring Companies Rules, 2019. The amendments made in light of promulgation of the Corporate Restructuring Companies Act, 2021, are aimed at fostering conducive environment for Corporate Restructuring Companies (CRCs). Corporate Restructuring companies specialize in acquiring nonperforming assets (NPA) from distressed financial institutions, leveraging their expertise to efficiently manage and recover these NPA assets.
Governor SBP inaugurates SAARCFINANCE Seminar on Transformative Potential of Big Data
in Economic Policy
Governor State Bank of Pakistan (SBP) Mr. Jameel Ahmad delivered the inaugural speech at the SAARCFINANCE Seminar on the ‘Potential Role of Big Data in Economic Policy.’ The event, held in Islamabad, brought together distinguished delegates, subject matter experts, and esteemed speakers from the SAARC region to discuss the impact and implications of Big Data in shaping economic policies.