Govt to introduce three slabs of rates on filers/non-filers
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb while presenting the federal budget 2024-25, said currently six percent tax is imposed on non-filers and three percent on filers for buying immovable properties.
Mehfooz
SBP for adoption of Digital Supply Chain Finance solutions by banks
The State Bank of Pakistan instructed banks to develop and implement digital solutions for supply chain finance within six months to leverage the technology for increasing the SMEs’ access to finance and digitizing retail payments.
Adil Aziz
Prince Rahim Aga Khan inaugurates HBL MfB’s RHQ Gilgit-Baltistan
Prince Rahim Aga Khan, Chair of the Executive Committee of the Aga Khan Fund for Economic Development (AKFED), has inaugurated new Regional Headquarters of the HBL Microfinance Bank (HBL MfB) for Gilgit Baltistan.
Women, shaping tomorrow’s policy for non-Banking microfinance sector
The Securities and Exchange Commission of Pakistan (SECP), in collaboration with Asian Development Bank (ADB) held a workshop on “Women Equifin: Shaping Tomorrow’s Policy for NBMFCs,” marking a significant milestone in gender equality in the microfinance sector. The workshop launched a draft Women Equality in Finance Policy Framework, based on industry insights and stakeholder feedback.
IsDB Organizes four day, Country Procurement, financial management Workshop
The Islamic Development Bank (IsDB) organized a four-day financial management and integrity workshop to enhance the transparency, efficiency, and effectiveness of financial management and procurement processes in Pakistan.
SECP Introduces Self-Assessment Declaration for NBFC’s to Enroll Digital Lending Apps
The Securities and Exchange Commission of Pakistan (SECP) has introduced a Self-Assessment Declaration Form to expedite and simplify the enrollment of Non-banking Finance Companies (NBFCs) digital lending apps on its approved list.
RDA inflows rise to $7.831 Billion in April 24
The inflow of remittances under Roshan Digital Account (RDA) has risen to US $7.831 billion by the end of April 2024 as compared to US $7.660 billion by march (2024) end, according to the State Bank of Pakistan.
SECP conducts Workshop on Collaboration with China in Capital Markets
The participants deliberated ways to strengthen connections between the capital markets of both countries and to enhance Chinese investment in Pakistan’s capital markets. Specific suggestions included exploring cross listings between the respective stock exchanges, establishing joint ventures between Chinese firms and their local counterparts, and creating Exchange Traded Funds (ETFs) to provide Chinese investors with easier access to Pakistan’s capital markets.
Editor
SECP unveils a comprehensive framework for digital lenders to launch innovative products
The revised framework introduces a host of new product verticals tailored to meet the evolving needs of borrowers and further strengthening the cyber security standards. Noteworthy among these innovations are the introduction of Embedded Lending through APIs, Buy Now Pay Later services, and Employer Integrated Earned Wage Access.
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.