CDNS collect Rs 980 Billion fresh bonds by May 15
The Central Directorate of National Savings (CDNS) on Monday realized the target of issuing Rs980 billion fresh bonds in the last 10 months of current fiscal year 2021-22 from July 1st to May 15th. The CDNS had set an annual gross receipt target of Rs 980 billion from July 1 to June 30 of the…
Adil Aziz
Governor SBP assumes the Charge of Chairman ACU Board in its 50th meeting
Dr. Murtaza Syed, Governor (Acting) State Bank of Pakistan (SBP) assumed the charge of Chairman of the Board of Directors of the Asian Clearing Union (ACU) in the 50th meeting of the ACU Board held in Islamabad on May 13, 2022 in both physical and virtual modes. Established in 1974 with permanent headquarters in Iran,…
SECP proposes changes to bring transparency in capital formation
The Securities and Exchange Commission of Pakistan (SECP), in a bid to improve and ensure transparency in the process for capital formation has recommended a revamp of Companies (Further Issue of Shares) Regulations, 2020. A concept paper, suggesting new modes and mechanics through which companies can raise capital, has been placed on SECP’s website for…
Workers’ Remittances in April 2022
With US $3.1 billion inflows during April 2022, workers’ remittances crossed $3 billion for the first time ever. • In terms of growth, during April 2022, remittances increased by 11.2 percent on m/m basis and 11.9 percent on y/y basis. • Cumulatively, at $ 26.1 billion, remittances grew by 7.6 percent during 10 months of…
Asian stocks mixed, Europe opens higher as investors fret over inflation
Asian stocks were mixed on Wednesday, following a volatile day on Wall Street with investors concerned about surging inflation and see-sawing crude prices. Equities have been on a roller-coaster ride in recent weeks, fuelled by worries about inflation, the Russian invasion of Ukraine, and the impact of China’s Covid-19 lockdowns on global supply chains. Global…
Taro partners with Muawin to redefine BNPL in Pakistan
In a historic industry first, Taro Technologies, a leading BNPL platform, collaborates with Muawin, Pakistan’s first licensed B2B digital lender, to turbocharge Taro’s launch. This partnership will allow both FinTechs to integrate and offer seamless financing for both end-customers and merchants across Pakistan. As BNPL growth booms both globally and locally, Pakistan has taken a…
Miftah assures his support to FBR in ongoing tax collection drive
Federal Minister for Finance and Revenue, Miftah Ismail on Tuesday assured Federal Board of Revenue (FBR) of his total support in the ongoing tax collection drive in the country. Miftah Ismail, visited FBR Headquarters, here to review performance and the ongoing drive for tax compliance by the country’s premier revenue collection organization, said a press…
IFC Appoints New Country Manager for Afghanistan and Pakistan
IFC has named Zeeshan Sheikh as its new country manager for Afghanistan and Pakistan. Sheikh will aim to mobilize private sector investment across key sectors, building on IFC’s global expertise and influence as a partner of choice for both public and private sector stakeholders. Sheikh, a British national, joined IFC in 2010. He has worked…
Bank Alfalah partners with Jubilee Life Insurance for 24×7 Cash Collection through largest CDM Network of Pakistan
Bank Alfalah Limited (BAFL), the country’s leading financial institution and Jubilee Life Insurance Company Limited (JLICL), Pakistan biggest private sector insurer have come together, and signed an MOU for round the clock cash collection through Bank Alfalah CDM network. The signing ceremony was held at Bank Alfalah’s Head Office in Karachi. With the help of…
Dr. Murtaza Syed assumes position of Acting Governor
In light of Section 10(2) of the State Bank of Pakistan (SBP) Act 1956 (amended), Dr. Murtaza Syed, being the senior most Deputy Governor, has assumed the position of Acting Governor SBP, with effect from May 5, 2022. It may be mentioned here that the term of Dr. Reza Baqir (former Governor SBP) ended on…