Aurangzeb engages with SCB on expanding investment opportunities
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb held a virtual meeting with Global Head of Corporate & Investment Banking at Standard Chartered Bank (SCB), Sunil Kaushal to discuss expanding investment opportunities in Pakistan.
Mehfooz
Aurangzeb invites Dubai Islamic Bank to enhance investments
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb invited the Dubai Islamic Bank to enhance its investment in the country; reaffirming the government’s dedication to maintaining a stable macroeconomic environment and ensuring that all necessary measures were in place to facilitate foreign investment.
Adil Aziz
JS Bank wins leading Digital Bank Award
JS Bank, one of the fastest growing banks in Pakistan, has been awarded the Leading Digital Award accolade at the CxO Elevate 2024 Awards. JS Global, a subsidiary of JS Bank, has been recognized with the Digital Investment Transformation Award.
SBP aims to double SME financing to Rs.1100 Billion
Deputy Governor State Bank of Pakistan (SBP), Saleemullah has reaffirmed the central bank’s objective to double the financing of Small and Medium Enterprises (SMEs) to Rs.1100 billion over the next five years under the Vision-2028 and urged the banks to embrace SME finance as a core business line to boost MSME growth.
Editor
Governor SBP inaugurates 1st edition of Pakistan Financial Literacy Week
Governor State Bank of Pakistan (SBP) Jameel Ahmad, said that SBP fully recognizes access to financial services a fundamental right, and SBP’s mission is to empower every citizen by providing them with the tools and knowledge needed to participate fully in the economy.
Mobilink Bank and NIBAF’s synergistic initiative to foster Financial Inclusion
Mobilink Bank, Pakistan’s leading digital microfinance institution, partnered with the National Institute of Banking & Finance (NIBAF) to share its vision and practices with the entire banking industry as a result of introducing an innovative product of Commercial Vehicle. The idea behind bringing this product is to nurture entrepreneurship and foster economic growth, generating employment opportunities that contribute substantially to societal development.
CDNS secure Rs.50 Billion investment in Islamic finance bonds
The Central Directorate of National Savings has secured Rs 50 billion in Islamic finance bonds at the end of the second quarter of the current fiscal year 2023–24.
Mobilink Bank’s loan disbursement to MSMEs to increase by 41%
Mobilink Bank stood out for its commitment to empowering Micro, Small, and Medium Enterprises (MSMEs), constituting a significant 36% of its total loan portfolio and a noteworthy MSME Growth (YoY) of 41% in 2023. The Bank strongly advocates for social mobility, especially in empowering MSMEs and women across remote rural regions, offering tailored financial products and services.
IHC granting to banks stay order on windfall tax till next week
The Islamabad High Court refrained the government from collecting windfall tax from banks till the next hearing.
President Arif Alvi directs Bank to refund Rs 344,600 to fraud victim
President Dr Arif Alvi has upheld the orders of Banking Mohtasib directing Allied Bank Ltd to pay Rs 344,600 to a customer as the amount was fraudulently transferred from his account and the bank had committed maladministration by opening the fund transfer facility without his consent which caused financial loss to the customer.