PITB and Faysal Bank Ltd. sign MoU to Facilitate Freelancers across Pakistan
In a special ceremony held at Arfa Technology Park on June 01, Punjab Information Technology Board (PITB) and Faysal Bank Limited (FBL) signed an MoU to facilitate freelancers across Pakistan. The MoU was signed by PITB DG e-Governance Sajid Latif and FBL Head CIBG Ali Waqar on behalf of their respective organizations. Senior officials from…
Adil AzizMMBL Champions the need to boost financial literacy in Balochistan at the Financial Literacy Gala 2022
Mobilink Microfinance Bank Ltd. (MMBL) – Pakistan’s largest digital Bank, set up a financial literacy camp at the University of Balochistan on Tuesday, May 31, 2022. The camp was organized under the State Bank of Pakistan’s National Financial Literacy Program for Youth. The gala had representatives from MMBL, SBP, RAAST, and other notable banks in…
SECP Chairman suggests high-level Steering Committee to chart impactful roadmap for promotion of Islamic finance
The Chairman, Securities and Exchange Commission of Pakistan (SECP) Aamir Khan suggests establishment of a high-level Steering Committee tasked with charting an impactful roadmap for the future, encompassing all touch points of Islamic finance ecosystem, to promote Islamic finance in the country. He made this suggestion in his keynote address at World Islamic Finance Forum’s…
MMBL and Digit 4G enter into Strategic Partnership to Digitally bolster Pakistan’s Financial Ecosystem
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has partnered with DIGIT, a leading technology brand of Swift Biz Solutions Pvt. Ltd. in Pakistan, to bolster Pakistan’s digital and financial ecosystem. Under this strategic partnership, MMBL will accelerate digital inclusion by enabling its deposit account customers to purchase DIGIT smartphones (Glory1, Play1 & Energy)…
Monetary Policy Statement
At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 150 basis points to 13.75 percent. This action, together with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored and containing risks to external stability. Since the last MPC meeting, provisional…
SBP and IFC join hands to promote Agriculture Finance through Warehouse Receipts
Deputy Governor State Bank of Pakistan (SBP) Ms. Sima Kamil while addressing a two-day specialized training workshop on Electronic Warehouse Receipt Financing (EWRF) for banks observed that the subject training program will be instrumental to support SBP’s recent initiative to promote EWRF in the country and banks will be able to get hands on knowledge…
State Bank issues Advisory against Illegal offshore Foreign Exchange Trading Websites, Mobile Applications and Platforms
State Bank of Pakistan (SBP) has noticed that an increasing number of offshore foreign exchange trading websites, mobile applications and platforms such as OctaFX, Easy Forex, etc. are offering their products and services to residents of Pakistan. These digital platforms lure people through social media advertisements to buy/invest in their products or services. Examples of…
Kuda Technologies poised to drive financial inclusion in Pakistan
A UK-based financial services company ‘Kuda Technologies’ in partnership with Fatima Group and The City Schools Group has applied for a digital banking licence in Pakistan with the goal of driving financial inclusion in the country. Founded in 2019 and with over $90 million of funding from renowned institutional investors including Valar Ventures and Target…
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…
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,…