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…
Adil Aziz
International developments, inflation impacting economic activities: Outlook
Among the determining factors of current trends in both international and domestic inflation are supply chain issues and surging international commodity prices Although the economic recovery is underway, the international developments and persistent high domestic inflation might impact domestic economic activities, says Monthly Economic Update and Outlook, April 2022 released here on Friday. “The domestic…
SECP Regulatory Sandbox fuels regulatory reforms in financial services
The Securities and Exchange Commission of Pakistan (SECP) has published a position paper that shared experiences and learning’s from its Regulatory Sandbox project for the benefit of potential participants of the third cohort of Sandbox. The paper also encapsulates the journey of the first cohort participants and details of their testing methodology, performance and learning…
Enforce Islamic Financial System in Pakistan In Next 5 Years: Federal Shariat Court
Federal Shariat Court has ordered the government and relevant state departments to enforce the economic, financial and banking system of the country in accordance with the principles of Islamic teachings by 2027. In the verdict, the court termed the Interest Act 1839 is totally against Sharia-teaching. The court ordered to repeal financial laws against Sharia…
PSX submits budget proposals to ensure capital market growth, economic development
Implementation of the proposals will help to document the economy and increase tax revenues, while also helping to meet important social objectives: PSX The Pakistan Stock Exchange (PSX) has presented important proposals for the federal budget 2022-23 to address economic challenges, boost national economy and grow the capital markets. These proposals have been submitted to…
No fresh borrowings from SBP, clarifies finance ministry
The Ministry of Finance here on Thursday clarified that there had been no fresh borrowings by the government from the State Bank of Pakistan (SBP). “In fact the government has been retiring its previous stock of debt with the SBP on its maturity,” the ministry said in a statement while responding to news circulating on…
JS Bank partnered with NdcTech to modernize its Core Banking and drive Business Agility
JS Bank, a leading Commercial Bank of Pakistan has modernized its Core Banking platform with renowned IT company NdcTech as the implementation partner. This deployment is a central part of the Bank’s strategy to rebuild its technology and support its future growth objectives. Enhancing the customer experience has always been a top priority for JS…
NITL Funds are now available on Hysab Kytab
Pakistan’s First Asset Management Company NITL has signed up with Hysab Kytab to provide end users/customers access to its family of funds within the consumer application. This collaboration will empower customers to make informed decisions leading to a financially secure future. With the help of National Investment Trust Limited (NITL), Hysab Kytab users will now…
Sonari Bank Limited (SNBL) join hands with S&P global Market Intellegence for trade compliance solution
Soneri Bank Limited (SNBL) has signed an agreement with internationally renowned company M/s S&P Global Market Intelligence (formerly IHS Markit) for implementation of IHS Trade Product Solution for ‘Price Verification of Commodities’ and ‘Identification of Dual Usage of Goods’. The signing ceremony was held on 20-April-2022 at SNBL Head Office, Karachi. SNBL President & CEO…
US launches $23.5 million four-year power sector improvement project in Pakistan
USAID Mission Director Julie A. Koenen has said that the United States launched $23.5 million four-year power sector improvement project in Pakistan. The project aimed at increasing the share of green energy in Pakistan’s energy mix, said a statement issued here Friday. “Washington looks forward to advancing its partnership with Pakistan to build a clean,…