ASA Microfinance Bank Limited to commence its commercial operations nationwide
The State Bank of Pakistan has allowed ASA Microfinance Bank (Pakistan) Limited to commence microfinance lending business nationwide from November 13, 2023.
Mehfooz
Islamic finance ideally placed to help the country transition towards sustainable finance – Director SBP
The Institute of Business Management’s (IoBM) two-day International Conference on Islamic Banking and Finance (ICBIF) 2023 began today. Focusing on the theme of “Sustainable Development and Islamic Finance: Examining the Role of Islamic Financial Institutions in Promoting Sustainable Economic Growth…
Editor
National Savings achieving of Rs.35 Billion investment in Islamic bonds to Q2
The Central Directorate of National Savings has secured Rs 35 billion in Islamic finance bonds in the mid of second quarter of the Current Fiscal Year 2023-24.
IoBM’s International Conference on Islamic Banking and Finance
The Institute of Business Management (IoBM) has announced that it will be hosting its high-profile 7th Annual International Conference on Islamic Banking and Finance from November 14 to 15, 2023. Chief guests at the conference’s inaugural session include Dr. Shamshad Akhtar, the Caretaker Federal Minister for Finance and Mr. Jameel Ahmed, Governor State Bank of Pakistan.
Workers’ remittances record $2.5 Billion
The overseas workers’ remittances recorded an inflow of US$2.5 billion during October 2023, the State Bank of Pakistan reported. During the month under review, remittances increased by 11.5 per cent on month on month basis and 9.06 per cent on year on year basis.
Adil Aziz
SECP proposes amendments to insurance regulatory framework for recording of advance tax
The Securities and Exchange Commission of Pakistan, to provide the manner of recording advance advance/withholding tax in the books of life insurance companies as well as management of investment in government securities by life insurance companies, has proposed amendments in the regulatory framework for insurance companies.
Asan Mobile Accounts reached to 20 Million by 2024
Federal Minister for Finance and Revenue Dr Shamshad Akthar said that Pakistan had targeted to take the number of Asan Mobile Accounts from existing 8.5 million to 20 million by 2024.
SECP and FIA to collaboration for safeguards of digital financial system from cyber crime and fraud
The Securities and Exchange Commission of Pakistan and Federal Investigation Agency have signed a memorandum of understanding (MoU) to formalize mechanism for information sharing and cooperation between the both organizations.
Mobilink Bank witnesses a 38% growth in lending to MSMEs
Mobilink Bank exhibited significant growth in the first three quarters of 2023, as evidenced by the Q3 financial statements. This milestone highlights the Bank’s dedication to supporting Micro, Small, and Medium-Sized Enterprises (MSMEs), supported by substantial deposit growth and improvements on multiple indicators.
FBR record revenue collection of Rs.2,748 Billion in July-October 2023
FBR has collected Rs.2,748 Billion (2022: 2,159 Billion) against assigned target of Rs.2,682 Billion, thereby exceeding it by Rs.66 Billion. FBR has put in tremendous efforts to achieve revenue target for the month of October, 2023.