State Bank of Pakistan cuts interest rate by 2% to 13%
The central bank of Pakistan has reduced its key policy rate by 200 basis points, bringing it down to 13%. This marks the fifth consecutive rate cut since June, driven by ongoing efforts to stimulate the economy amid easing inflation.
Adil Aziz
InfraZamin Pakistan, Saudi Pak Industrial and Agricultural Investment Co Ltd sign 11.5-years Renewable Energy Financing Facility to Acumen Energy of PKR 1.28 billion
InfraZamin Pakistan and Saudi Pak Industrial and Agricultural Investment Co Ltd signed a landmark transaction to provide an 11.5-year Distributed Solar Financing Facility to Acumen Energy Limited (Acumen) for PKR 1.28 billion. The Facility will be backed by a PKR 1.04bn credit guarantee to Saudi Pak and will mark InfraZamin’s first foray into renewable energy….
Mehfooz
SECP Hosts Second Conference on International Islamic Capital Market in Karachi
The Securities and Exchange Commission of Pakistan (SECP), in collaboration with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Development Bank Institute (IsDBI) on Wednesday organized the Second International Islamic Capital Market Conference. The event, held in Karachi, themed, “From Tech Transformation to Realizing Sustainability: Building an Islamic Capital Market….
Worker Remittances to Pakistan Surge 33.6%, Hitting $14.8 Billion in Just Five Months
The workers’ remittances increased by 33.6 percent during the first five months of the current fiscal year as compared to the corresponding period of last year, according to latest data of State Bank of Pakistan. The remittances reached to US$ 14.8 billion during July-November 2024-25 as against the remittances of US$ 11.1 billion received during…
SECP approved Strategic Action Plan 2024-2026 for development of Islamic finance in non-bank financial sector
The Securities and Exchange Commission of Pakistan (SECP) has approved a Strategic Action Plan 2024-2026 to facilitate the growth and development of Islamic finance in non-bank financial sectors. The plan was prepared by the SECP’s apex committee chaired by Mujtaba Ahmed Lodhi, Commissioner-SCD, established in 2023 with representation from the Pakistan Stock Exchange (PSX), Central…
Finance Minister Introduces SECP’s ESG Portal to Enhance Corporate Sustainability
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, officially launched ESG Sustain, a centralized online sustainability portal developed by the Securities and Exchange Commission of Pakistan (SECP) in collaboration with UN Women Pakistan in Islamabad. The launch of ESG Sustain marks a significant milestone under SECP’s ESG Roadmap aimed towards advancing sustainable practices across…
Beware! SECP Issues Warning on ‘IGIL Securities’ Fraudulent Activities
The Securities and Exchange Commission of Pakistan (SECP) has identified another illegal trading platform operating under the name “IGIL Securities”.
Editor
New SBP Regulations for Profit Sharing on Islamic Banking Savings
The State Bank of Pakistan (SBP), revised the instructions for profit and loss distribution and pool management for Islamic Banking Institutions (IBIs) which now are required to pay profit on their PKR saving deposits equivalent to at least 75 percent of the weighted average gross yield of all pools of an IBI.
Roshan Digital Accounts to reach $9 Billion Mark in Deposits
The number of Roshan Digital Accounts has reached 757,587 with an addition of over 11000 new accounts by the end of October 2024 while the total amount funded in the RDAs so far reached near $ 9 billion.
PSX Index Climbs to Historic High of 97,328.40 Points
The 100-Index of the Pakistan Stock Exchange turned around to bullish trend on Thursday, gaining 1,781.94 points, a positive change of 1.87 percent, closing all time high at 97,328.40 points as compared to 95,546.46 points on the last trading day.