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.
Mehfooz
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.
Adil Aziz
Mobilink Bank secures Best Bank for Inclusion Award at PBA 2023
Mobilink Bank has won the prestigious title of Best Bank for Inclusion at the Pakistan Banking Awards (PBA) 2023, held at Pearl Continental Hotel, Karachi, November 24.
Banks Pay 40% additional tax on windfall income, profits, and gains during 2021-22 of by Nov 30: FBR
The Federal Board of Revenue has issued a notification for financial institutions to settle the payment of a 40% additional tax on windfall income, profits, and gains for transactions that occurred in 2021 and 2022, as stated by a source on November 22.
Cabinet approves levy of 40 % tax on banks’ windfall profit
The Federal Cabinet in its meeting chaired by Caretaker Prime Minister Anwaar-ul-Haq, accorded approval, upon the recommendation of Federal Board of Revenue, to impose 40 percent tax on windfall profit earned by banks on the foreign exchange transactions during the years 2021 and 2022.
IoBM’s International Conference on Islamic Banking and Finance
The Institute of Business Management (IoBM) has announced that it will be hosting its high-profile 7th Annual International Conference on Islamic Banking and Finance from November 14 to 15, 2023. Chief guests at the conference’s inaugural session include Dr. Shamshad Akhtar, the Caretaker Federal Minister for Finance and Mr. Jameel Ahmed, Governor State Bank of Pakistan.
Editor
Asan Mobile Accounts reached to 20 Million by 2024
Federal Minister for Finance and Revenue Dr Shamshad Akthar said that Pakistan had targeted to take the number of Asan Mobile Accounts from existing 8.5 million to 20 million by 2024.
Mobilink Bank witnesses a 38% growth in lending to MSMEs
Mobilink Bank exhibited significant growth in the first three quarters of 2023, as evidenced by the Q3 financial statements. This milestone highlights the Bank’s dedication to supporting Micro, Small, and Medium-Sized Enterprises (MSMEs), supported by substantial deposit growth and improvements on multiple indicators.
Mobilink Bank to provide financial services to HRSG
Mobilink Bank signed a Memorandum of Understanding (MoU) with HRSG, a globally renowned service provider. This collaborative agreement strives to extend financial services to HRSG employees, showcasing the Bank’s dedication to improving the economic well-being of these individuals and supporting their financial aspirations.