Latest Financial News

Rupee report: Rupee stays range-bound

  • 17-09-2018
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A divergent trend was witnessed on the money market last week. The currency traded

ICCI laments Pakistan’s huge debt, liabilities

  • 17-09-2018
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ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Senior Vice Presiden

SC bars three bank chiefs from leaving Pakistan

  • 17-09-2018
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ISLAMABAD: The Sup­reme Court on Sunday ordered placing of names on the Exit Cont

Bank deposits see decline of 0.12pc

  • 17-09-2018
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ACCORDING to the weekly statement of position of all scheduled banks for the week

Bears dominate market in week’s first session

  • 17-09-2018
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Bears dominated the Pakistan Stock Exchange (PSX) on Monday, with the benchmark KS

Money Market: Bank borrowings decrease by 4.81pc

  • 14-09-2018
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ACCORDING to the weekly statement of position of all scheduled banks for the week

SBP’s reserves drop to two-year low

  • 14-09-2018
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KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) have droppe

NAB to step up probe into KASB-BankIslami merger

  • 14-09-2018
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ISLAMABAD: As the anti-graft body orders an investigation into the merger of KASB

Rupee finds stability after SBP intervention

  • 14-09-2018
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KARACHI: Following intervention from the StateBANK  of Pakistan (SBP), the exchan

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 […]

SECP for developing derivatives market

ISLAMABAD: There is a need for the development of the derivatives market, which wi

Bank assets rise 0.91pc

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

Currency: Rupee stable against dollar

KARACHI: The rupee remained stable against the dollar at 105.4/105.6 in the inter

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

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

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

Money Market: Bank deposits grow by 1.42pc

ACCORDING to the weekly statement of position of all scheduled banks for the week

IMF programme ‘inevitable’, says Pakistan Business Council

KARACHI: Pakistan Business Council (PBC) has launched 100-day economic agenda for

Islamic banking assets grow 12pc

ISLAMABAD - The Islamic Banking Industry (IBI) has grown considerably as its asse

The rupee remains stable

IN the local currency market last week, State Bank measures to check dollar outflo

WORLD FINANCIAL NEWS

World

Erosion in lira’s value points to bigger problems

  • 20-08-2018
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Last Friday, the Turkish lira lost close to seven per cent of its value in a singl

BoE raises rates above crisis lows as Brexit looms

  • 04-08-2018
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LONDON: The Bank of England pushed interest rates above their financial crisis low

Asia

Indian govt downplays rupee’s drop as markets panic

THE plunging Indian rupee might have sent investors in the stock markets scurrying for cover last week, but government leaders and various business heads have tried to soften the impact of the currency’s sharp fall on the domestic economy. Last week the rupee plunged to a lifetime low of 70.09 against the United States’ dollar, […]

Indian rupee falls to all-time low against dollar

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

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