Monetary Policy Statement
At its last meeting on 8th March 2022, the Monetary Policy Committee (MPC) noted in its statement the significant uncertainty around the outlook for international commodity prices and global financial conditions, which had been exacerbated by the Russia-Ukraine conflict. Given the unfolding situation, the MPC had highlighted that it “was prepared to meet earlier than…
Adil Aziz
Indicators show economy performing well despite challenges
Economic experts believe that political stability was imperative to continue the trend As demonstrated by various indicators, the county’s economy has been performing well so far despite global economic shocks caused due to Covid-19 pandemic and disruption in supply chain, hence necessitating the need for stability at political front to continue the trend. The economic…
U Bank Partners with NBP to Promote Financial Inclusion in Pakistan
U Bank has joined hands with the National Bank of Pakistan (NBP) for the promotion of financial inclusion in the country. Kabeer Naqvi, President and CEO, U Microfinance Bank Limited (U Bank), and President and CEO, National Bank of Pakistan (NBP), Arif Usmani signed an MOU of strategic partnership between the two organizations. This collaboration…
State Bank of Pakistan Receives Overwhelming Response for Digital Bank Licenses
State Bank of Pakistan (SBP) has concluded the process of receiving applications for digital banks licenses as per its announced deadline of March 31, 2022. The application process registered an overwhelming response whereby SBP received twenty (20) applications from a diverse range of applicants, including domestic commercial banks, microfinance banks, electronic money institutions and FinTech…
SECP issues guidelines to facilitate conduct of general meetings
The Securities and Exchange Commission of Pakistan has issued two set of guidelines to facilitate and standardize the role of officers of listed companies and use of technology during general meetings. These guidelines will address impediments faced by listed companies, their shareholders and stakeholders. Guidelines issued on the role of officers of listed companies regarding…
Sahulat Account simplifies access of investors to stock market
All licensed Securities Brokers are offering the Sahulat Account facility and account could be opened online as well Expanding its outreach, the Pakistan Stock Exchange (PSX) has facilitated the Investors to invest on exchange through the highly simplified Sahulat Account, which provides exceptional ease of account opening for investors. The investors can open a Sahulat…
CDNS to provide Islamic investment opportunities, through Islamic finance
The Central Directorate of National Savings (CDNS) has decided to start Islamic finance and will start implementing its procedural work from next month to provide the facility of Islamic finance in the institution. In this regard, under Islamic Sharia Compliance, Prize Bonds and Savings Certificates will be issued for investment in accordance with Sharia Principles,…
RDA Inflows surge to $3.92 bn in March
Inflow of remittances under Roshan Digital Account (RDA) rose to US $3.92 billion by the end of March 2022 as compared to US $3.632 billion till end of February last year, according to a latest data released by the State Bank of Pakistan. The data showed that the inflows of remittances during the month of…
Revenues grow by 29.1 percent to Rs4.3 trillion in 3 quarters
The net revenues collection by the Federal Board of Revenue (FBR) increased by 29.1 percent during the first three quarters of the current fiscal year as compared to the corresponding period of last year, the board reported here on Thursday. According to provisional figures released by the board, FBR collected Rs4,382 billion during July-March (2021-22)…
The IPG Group Pakistan launched Roshan Digital Account drive in GCC to promote new investment opportunities in Pakistan
The IPG Group Pakistan, a leading sports marketing and international events company and a renowned name in remittance initiative events is facilitating the launch of Roshan Digital Account (RDA) drive for overseas Pakistanis to promote new investment opportunities in Pakistan in collaboration with renowned banks on an international platform. Recently, in partnership with Bank AL…