Latest Financial News

Rupee to come under pressure as reserves slide

  • 11-10-2017
  • 0 comments
KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between

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

  • 10-10-2017
  • 0 comments
ISLAMABAD: A World Bank report warns that Pakistan’s external sector situation

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

  • 10-10-2017
  • 0 comments
KARACHI: Five former senior officials of National Bank of Pakistan (NBP) and two c

Accords for $435m ADB loan signed

  • 10-10-2017
  • 0 comments
ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Tuesday signed two lo

Banks shy away from their core function — lending

  • 10-10-2017
  • 0 comments
Over the past two and a half decades, bank loans to creditworthy private businesse

Week-On-Week: SPI falls 0.27%

  • 09-10-2017
  • 0 comments
ISLAMABAD: The Sensitive Price Indicator (SPI) for the week ended September 14, 2

Bank assets rise 0.91pc

  • 09-10-2017
  • 0 comments
DEPOSITS and other accounts of all scheduled banks stood at Rs11,651.413 billion a

Rupee report: Rupee-dollar parity stable

  • 09-10-2017
  • 0 comments
IN the local currency market, the rupee/dollar parity last week displayed almost a

Remittances rise by13pc

  • 07-10-2017
  • 0 comments
KARACHI: Remittances sent by overseas Pakistani workers increased 13.2 per cent in

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 […]

Pak tax revenue stands at 12.6pc of GDP: ADB

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

SBP’s reserves drop to two-year low

KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) have droppe

NAB to step up probe into KASB-BankIslami merger

ISLAMABAD: As the anti-graft body orders an investigation into the merger of KASB

PSX lands in green amid cautious trading

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

KSE-100 index loses 274 points amid low volumes

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

Bears dominate market in week’s first session

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

Money Market: Bank borrowings decrease by 4.81pc

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

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

Currency: Rupee stable against dollar

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

WORLD FINANCIAL NEWS

World

IMF to launch new form of aid—with no money

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

Saudi economy becomes stagnant due to Mideast growth: IMF

  • 25-07-2017
  • 0 comments
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
  • 0 comments
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
  • 0 comments
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
  • 0 comments
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
  • 0 comments
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
  • 0 comments
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
  • 0 comments
ISLAMABAD: The Federal Investigation Agency has recently arrested a senior female

BANKING MANAGEMENT

Executive MANAGEMENT

Masood Karim appointed acting NBP President

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

Tahir Hassan assumes office as ABL CEO

  • 05-01-2017
  • 0 comments
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
  • 0 comments
Sohail Kazmi  AVP/Senior Manager Projects MCB Digital Banking successfully comple

Delayed Justice: Bank manager arrested for fraud

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

Employee

National Bank of Pakistan In Trouble

  • 08-04-2014
  • 0 comments
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
  • 0 comments
Today I would like to introduce a banker, a genius, Mirza Bilal Khalid, the o