Latest Financial News

SBP to upgrade printing machines

  • 19-08-2017
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KARACHI: State Bank of Pakistan (SBP) Governor Tariq Bajwa said on Thursday modern

Pakistan Stock Exchange closes flattish as benchmark index sheds 58 points

  • 19-08-2017
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The Pakistan Stock Exchange (PSX) on Friday closed flattish, with the benchmark KS

Every Pakistani owes Rs95,000 in debt: finance ministry

  • 19-08-2017
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Each Pakistani owes Rs95,000 in debt with the country’s foreign debt and liabili

Refund payments delayed to perk up collection

  • 19-08-2017
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ISLAMABAD: The Federal Board of Revenue (FBR) has withheld approximately Rs39 bill

SBP to upgrade printing machines

  • 18-08-2017
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KARACHI: State Bank of Pakistan (SBP) Governor Tariq Bajwa said on Thursday modern

Banks shy away from their core function — lending

  • 18-08-2017
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Over the past two and a half decades, bank loans to creditworthy private businesse

A sense of uncertainty grips the forex market

  • 18-08-2017
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The forex market is confused. From bank treasurers and dealers in the interbank ma

Rupee gains on higher dollar inflows

  • 18-08-2017
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KARACHI: Within one week of the new prime minister and cabinet taking charge in Is

FPCCI for bringing back money stashed in the Swiss banks

  • 18-08-2017
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ISLAMABAD - The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) o

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 […]

SBP chief briefs Governor on banking system KP, FATA

PESHAWAR: Governor State Bank Tariq Bajwa called on the Governor Khyber Pakhtunkh

Stocks make gains after Tuesday’s slide

Pakistan Stock Exchange (PSX) recovered slightly after Tuesday's bloodbath, with t

PSX bears full brunt of uncertainty as benchmark index slides 1,389 points

The Pakistan Stock Exchange (PSX) saw a bloodbath on Tuesday, with the benchmark K

Foreign investment jumps by 162pc

KARACHI: Foreign direct investment (FDI) jumped 163 per cent to $222.6 million in

Currency: Rupee stable against dollar

KARACHI: The rupee remained stable against the dollar at 105.3/105.5 in the inter

China’s debt on a dangerous trajectory, warns IMF

BEIJING: China’s massive debt is on a “dangerous” path, raising the risk of

Bears dominate market in week’s first session

Bears dominated the Pakistan Stock Exchange (PSX) on Monday, with the benchmark KS

FBR collected Rs200bn in July

ISLAMABAD: The Fed­eral Board of Revenue (FBR) collected Rs200 billion in the fir

Rupee to come under pressure as reserves slide

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

Rupee dip ‘meant to fix imbalances

ISLAMABAD: Deputy Governor State Bank of Pakistan Riaz Riazuddin said on Wednesda

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