Latest Financial News

Foreign exchange: SBP’s reserves surge 15.8%, stand at $14.7b

  • 15-12-2017
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KARACHI: Foreign exchange reserves held by the StateBANK  of Pakistan (SBP) incr

Rupee finds stability after SBP intervention

  • 15-12-2017
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KARACHI: Following intervention from the StateBANK  of Pakistan (SBP), the exchan

KSE-100 index loses 596 points amid political uncertainty

  • 15-12-2017
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The Pakistan Stock Exchange (PSX) landed in the red again on Thursday, with the be

Govt says no IMF bailout needed, mulls another bond launch

  • 15-12-2017
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ISLAMABAD: Pakistan plans launching another international bond in about 45 days to

PSX lands in green amid cautious trading

  • 13-12-2017
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Pakistan Stock Exchange (PSX) closed higher on Tuesday, with the benchmark KSE-100

KSE-100 index loses 274 points amid low volumes

  • 13-12-2017
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Pakistan Stock Exchange (PSX) slipped on Monday, with the benchmark KSE-100 index

Bears dominate market in week’s first session

  • 13-12-2017
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Bears dominated the Pakistan Stock Exchange (PSX) on Monday, with the benchmark KS

SECP for developing derivatives market

  • 12-12-2017
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ISLAMABAD: There is a need for the development of the derivatives market, which wi

In talks with IMF, Pakistan agrees to depreciate rupee

  • 12-12-2017
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ISLAMABAD: Amid a policy decision on Friday to allow rupee depreciation, Pakistan

Multibillion-rupee scam: SBP given three days to probe latest NBP fraud

ISLAMABAD: Finance Minister Ishaq Dar is learnt to have directed the State Bank of Pakistan (SBP) to launch an investigation into a multibillion-rupee fraud in the National Bank of Pakistan (NBP) and submit a report within three days. The NBP itself had filed a complaint with the FIA and nominated a senior woman executive, who confessed […]

NBP’s female official arrested for ‘Rs1.5 billion fraud’

ISLAMABAD: The Federal Investigation Agency has recently arrested a senior female officer of the National Bank of Pakistan along with four officers of another organisation on charges of irregularly withdrawing billions of rupees from bank accounts. An assistant vice president of the NBP was arrested this week after the bank lodged a complaint that the officer […]

Near about $8 Billion Dollars Laundered abroad by Pakistani Banks

The State Bank of Pakistan (SBP) on Wednesday said that around $7.9 billion capital had flown out of the country in the last five years from foreign currency accounts opened under the protection of Economic Reforms Act 1992. The SBP officials informed the National Assembly’s Standing Committee on Finance that there was no bar on […]

Dollar rises to Rs107 in ‘market-driven adjustment

KARACHI: TheEXCHANGE  rate witnessed massive fluctuations on Friday as the dollar

PSX closes week on positive note as benchmark index climbs 295 points

The Pakistan StockEXCHANGE  (PSX) on Friday closed the week on a positive note, w

Banks’ profitability falls, asset base expands: SBP

KARACHI: The asset base of the banking sector expanded 8.3 per cent in the second

Banks play their part but remain shy of innovation

THE State Bank of Pakistan (SBP) is pushing banks quite aggressively to keep doing

Bank assets rise 0.91pc

DEPOSITS and other accounts of all scheduled banks stood at Rs11,651.413 billion a

Accords for $435m ADB loan signed

ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Tuesday signed two lo

Rupee to come under pressure as reserves slide

KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between

Pak tax revenue stands at 12.6pc of GDP: ADB

ISLAMABAD - Pakistan's total tax revenue witnessed gradual increase from 10.6 perc

Muddled World Bank report: Pakistan ‘needs’ $31b this year to stay afloat

ISLAMABAD: A World Bank report warns that Pakistan’s external sector situation

NAB moves against NBP’s ex-president, Azgard Nine CEO

KARACHI: Five former senior officials of National Bank of Pakistan (NBP) and two c

WORLD FINANCIAL NEWS

World

IMF to launch new form of aid—with no money

  • 27-07-2017
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WASHINGTON: The International Monetary Fund (IMF) announced on Wednesday it will l

Saudi economy becomes stagnant due to Mideast growth: IMF

  • 25-07-2017
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Economic growth in the Middle East and North Africa is forecast to slow considerab

Asia

Wavering risk appetite after Manchester blast weighs on sterling, Asia stocks, lifts yen

Sterling slipped on Tuesday after a suspected suicide attack killed at least 22 people and wounded 59 at a pop concert in the English city of Manchester, while the euro held gains made after German Chancellor Angela Merkel said it was “too weak”. Despite the explosion, at a concert by US singer Ariana Grande, European markets […]

In India, a new banking system to reach the masses

India central bank relaxes cash withdrawal limit with immediate effect

Banking & Financial Scams

SBP’s reserves continue to fall, amount to $15.9b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 0.104% on a weekly basis, according to data released on Thursday. On May 12, the foreign currency reserves held by the central bank were recorded at $15,895.9 million, decreasing $16.6 million or 0.104%, compared to $15,912.5 million in the previous week, according to […]

Anti-money laundering, terror financing measures reviewed

  • 03-03-2017
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ISLAMABAD - Finance Minister Ishaq Dar on Thursday chaired a meeting to review pro

Brokerage fraud: Victims form body to help recover Rs5b

  • 13-02-2017
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MULTAN: The people who have been a victim of fraud committed by MR Securities and

Western Union admits to aiding wire fraud, to pay $586m

  • 01-02-2017
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Western Union Co, the world's biggest money-transfer company, agreed to pay $586 m

Plea bargain helped recover Rs285 billion, says NAB chief

  • 31-12-2016
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ISLAMABAD: Responding to criticism against the provision, the National Accountabi

Multibillion-rupee scam: SBP given three days to probe latest NBP fraud

  • 27-12-2016
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ISLAMABAD: Finance Minister Ishaq Dar is learnt to have directed the State Bank o

NBP’s female official arrested for ‘Rs1.5 billion fraud’

  • 10-12-2016
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ISLAMABAD: The Federal Investigation Agency has recently arrested a senior female

BANKING MANAGEMENT

Executive MANAGEMENT

Masood Karim appointed acting NBP President

  • 21-01-2017
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Masood Karim Shaikh has been appointed as acting President National Bank of Pakist

Tahir Hassan assumes office as ABL CEO

  • 05-01-2017
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Tahir Hassan Qureshi has assumed office of the chief executive officer (CEO) of Allied Ban

MANAGER

Sohail Kazmi AVP/Senior Manager Projects MCB Digital Banking

  • 24-08-2016
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Sohail Kazmi  AVP/Senior Manager Projects MCB Digital Banking successfully comple

Delayed Justice: Bank manager arrested for fraud

  • 14-01-2016
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SUKKUR: The National Accountability Bureau (NAB) arrested on Wednesday a

Employee

National Bank of Pakistan In Trouble

  • 08-04-2014
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Tired of with the unending political appointments that has taken toll on the biggest state

EMPLOYEE OF THE MONTH

Selling Strategies from the only Youngest Branch Manager in Pakistan Banking

  • 02-04-2014
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Today I would like to introduce a banker, a genius, Mirza Bilal Khalid, the o