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Business & Finance

BMP grants Rs681.07m relief to customers in H12024

KARACHI: The Banking Mohtasib Pakistan (BMP) has granted monetary relief amounting to Rs 681.07 million to the...

Published 24 Jul, 2024 05:38am

Business & Finance

Q3: 83pc of retail payments are digital transactions, says SBP

KARACHI: Pakistan’s payment system has been witnessing continuous and significant progress in the adoption of...

Updated 20 Jul, 2024 09:23am

Pakistan

Major IT outage disrupts banks, air lines, digital payments

ISLAMABAD: A faulty update from cyber security provider, CrowdStrike, caused a significant global IT outage,...

Published 20 Jul, 2024 05:34am

Print

Monitoring, recovery of WHT: FBR advised to give field teams access to softwares of banks

ISLAMABAD: The Federal Tax Ombudsman (FTO) has recommended the Federal Board of Revenue (FBR) to provide access of...

Updated 16 Jul, 2024 09:32am

Business & Finance

Bank holidays

KARACHI: The State Bank of Pakistan will remain closed on July 16th and 17th, 2024 (Tuesday & Wednesday) being...

Published 11 Jul, 2024 05:13am

Business & Finance

Agriculture and SME finance expansion: SBP issues letters to banks to develop five-year plans

KARACHI: The Governor, State Bank of Pakistan (SBP), chaired the second Steering Committee meeting on July 4 on...

Published 08 Jul, 2024 08:25am

Print

Financial system shows steady performance: SBP

KARACHI: The State Bank of Pakistan (SBP) has said that overall risks to financial stability appear to be manageable...

Updated 06 Jul, 2024 08:58am

Business & Finance

Special purpose FCAs: Banks told to submit report as per revised code list

KARACHI: The State Bank of Pakistan (SBP) has revised the code list pertaining to reporting of Special Purpose...

Published 04 Jul, 2024 05:47am

Print

Sugar export: 100pc receipt of export proceeds in advance made mandatory

KARACHI: The State Bank of Pakistan (SBP) has linked the export of sugar with 100 percent receipt of export proceeds...

Updated 03 Jul, 2024 09:23am

Pakistan

AML transaction monitoring solution: Raqami selects BenchMatrix’s RiskNucleus

KARACHI: Raqami Islamic Digital Bank has selected BenchMatrix’s proprietary solution, RiskNucleus as its ...

Published 02 Jul, 2024 05:07am

Print

Conventional to Islamic banking: SBP issues broad parameters for conversion

KARACHI: The State Bank of Pakistan (SBP) has developed broad guiding parameters to help banks to devise their...

Updated 29 Jun, 2024 09:10am

Business & Finance

Bank holiday

KARACHI: The State Bank of Pakistan (SBP) will remain closed for public dealing on 1st July 2024 (Monday), which ...

Published 29 Jun, 2024 06:40am

Print

Bank deposits: Non-filers can face prospect of 30pc tax

ISLAMABAD: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) President Atif Ikram Sheikh and...

Updated 25 Jun, 2024 08:28am

Opinion

Enablement of digitalization in Pakistani banking and risk in operations

Introduction: The digital revolution is sweeping across the globe, transforming traditional industries and reshaping...

Published 20 Jun, 2024 06:01am

Print

Banks have a year to shift clearing from London to EU: Eurex

LONDON: A shift in chunks of euro derivatives clearing from London to European Union countries is now inevitable and...

Updated 20 Jun, 2024 09:33am

Business & Finance

Return of income Tax: Prosecution for company failing to furnish info proposed

ISLAMABAD: The government has proposed prosecution for any company including banks and association of persons (AOPs)...

Published 13 Jun, 2024 06:22am

Business & Finance

SME sector: SBP directs banks to adopt DSCF solutions

KARACHI: The State Bank of Pakistan (SBP) has instructed the banks to adopt Digital Supply Chain Finance (DSCF)...

Published 12 Jun, 2024 06:51am

Technology

Banks say growing reliance on Big Tech for AI carries new risks

AMSTERDAM: The boom in artificial intelligence will increase banks’ dependence on big US tech firms, creating new...

Published 10 Jun, 2024 06:52am

Print

WHT on cash withdrawals: PM rejects another key revenue step of FBR

ISLAMABAD: Prime Minister Shehbaz Sharif has rejected another key revenue measure of the Federal Board of Revenue...

Updated 07 Jun, 2024 12:54pm

Print

Non-filers: FBR proposes WHT raise on cash withdrawal from banks

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to raise withholding tax on cash withdrawal from the...

Updated 16 May, 2024 11:50am

Business & Finance

Banks slow to limit coal financing: NGO

FRANKFURT, (Germany): Banks lent almost $470 billion to the coal industry between 2021 and 2023, according to a ...

Published 03 May, 2024 06:29am

Business & Finance

Oman Housing Bank selects Temenos for core banking upgrade

KARACHI: Oman Housing Bank has selected Temenos to modernise its core banking capabilities in the cloud. With...

Published 06 Apr, 2024 05:28am

Business & Finance

PIA’s commercial debt negotiations: Govt, domestic lender banks successfully conclude

ISLAMABAD: The commercial debt negotiations of Pakistan International Airlines Corporation Limited (PIACL) have been...

Published 30 Mar, 2024 05:30am

Markets

Banks and industrial stocks lift Dubai, Abu Dhabi falls

DUBAI: Dubai’s main share index closed higher on Friday, boosted by gains in banking and industrial sector stocks...

Published 30 Mar, 2024 04:58am

Print

Banks asked to ensure lending to priority sectors

KARACHI: The Federal Minister for Finance and Revenue, Muhammad Aurangzeb on Friday asked banks for lending to...

Updated 30 Mar, 2024 02:21pm

Business & Finance

Taxpayer gets reimbursed amount recovered from his bank account

LAHORE: Due to the tax authorities’ failure to specify a reasonable payment timeframe, a corporate taxpayer...

Published 19 Mar, 2024 04:53am

Print

SBP revises timelines for Banks’ Floating Exchange Rates

KARACHI: The State Bank of Pakistan (SBP) has revised the timelines for submission of data of Banks’ Floating...

Updated 29 Feb, 2024 08:50am

Print

Conduct of business of banks: FTO has no jurisdiction to probe legality: IHC

ISLAMABAD: The Islamabad High Court (IHC) has declared that the Federal Tax Ombudsman (FTO) cannot assume the powers...

Updated 28 Feb, 2024 09:19am

Business & Finance

(MRTs)/(MRCs), GMs: HBL delineates deferred compensation policy

KARACHI: Habib Bank Limited (HBL) has informed that in accordance with the Risk Aligned Remuneration Policy of the...

Published 07 Feb, 2024 05:30am

Pakistan

Election day: banks to remain closed on February 8

Banks in Pakistan will remain closed on Thursday, February 8 on account of it being election day, the State Bank of...

Updated 06 Feb, 2024 08:28pm