World Investor Week 2024 Marked at PSX with a Gong Ceremony
Pakistan Stock Exchange (PSX), under the aegis of World Federation of Exchanges (WFE), of which PSX is an Affiliate Exchange, in partnership with International Organization of Securities Commission (IOSCO), marked World Investor Week (WIW) 2024 through a gong ceremony held at PSX Trading Hall. The WIW with the theme of ‘Ring the Bell for Financial Literacy’ is being held from October 7 – 13, 2024. This is the fourth consecutive year that PSX is holding and organizing the World Investor Week.
Adil Aziz
Digital retail payments rise to 84% in FY-24, Governor SBP
Governor State Bank of Pakistan, Jameel Ahmad, stated that the share of digital payments in total retail payments by volume has risen from 76% in FY23 to 84% in FY24 while the overall number of digital retail transactions has increased by 30%.
Mehfooz
Alert for the Investing Public: Beware of Online Trading Frauds
Pakistan Stock Exchange Limited alerts the investing public regarding the surge in fraudulent activities through different social media platforms. Some illegal social media groups and forums are using AI technology and conventional methods to entice the investing public to join in or fill in forms through WhatsApp groups, Facebook/ Meta and other social media channels.
Editor
Banking sector grows 11.5% in H1CY24 with satisfactory performance, resilience: SBP
The State Bank of Pakistan (SBP), stated that performance and resilience of the banking sector for the period January to June 2024 remained satisfactory with a growth of 11.5 percent in collective balance sheet.
TMB wins “Best Microfinance Bank” award
Telenor Microfinance Bank, operator of Pakistan’s leading digital financial services platform, Easypaisa, received its double recognition at the renowned 21st Annual Excellence Awards by CFA Society Pakistan, having won the “Best Microfinance Bank of the Year 2023” and “Recognizing Gender Diversity at the Workplace Award 2024.”
Mobilink Bank partners with Mercurial Minds to accelerate financial transformation
Mobilink Bank, announced a strategic partnership with Mercurial Minds (M.M.), a leading provider of intelligent automation solutions. This collaboration marks a significant milestone in Mobilink Bank’s journey towards digital transformation, as the Bank strives to enhance operational efficiency, improve customer experiences, and solidify its position as a leader in the microfinance sector.
Mastercard and UPaisa launch a new debit card to transform the Pakistan payments landscape
Mastercard and UPaisa – a digital and financial app by U Microfinance Bank and Ufone 4G – have launched a new physical and virtual debit card, advancing the digital payments landscape in Pakistan. Consumers can now benefit from a hassle free and secure way to shop online with over 7,500 online merchants in Pakistan and wherever Mastercard is accepted globally.
Jazz, Mobilink bank forge strategic alliance to strengthen digital financial inclusion
Jazz and Mobilink Microfinance Bank Limited (MMBL), have combined their strengths to advance financial inclusion and empowerment throughout Pakistan.
BISP, JazzCash team up for digital empowerment of its beneficiaries
Benazir Income Support Programme (BISP) will collaborate with JazzCash for digital empowerment of its beneficiaries.
RDA inflows rise to $8.416 billion in July 2024
The inflow of remittances under Roshan Digital Account (RDA) has risen to US $8.416 billion by the end of July 2024 as compared to US $8.255 billion by June (2024) end, according to the latest data released by the State Bank of Pakistan.