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…
Adil Aziz
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…
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…
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…