Latest Financial News

Stock exchange to encourage SME access to equity finance

  • 29-04-2017
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ISLAMABAD: Pakistan Stock Exchange (PSX) on Friday signed a memorandum of understa

SBP governor’s term ends, but he may get a 3-year extension

  • 29-04-2017
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ISLAMABAD: The government is considering offering another three-year term to Stat

Reserves losing half a billion dollars every month

  • 29-04-2017
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KARACHI: Foreign exchange reserves have been dropping by a monthly average of half

PSX ends week on bearish note

  • 29-04-2017
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KARACHI -  Pakistan Stock Exchange (PSX) ended the week on bearish note on pressu

ECC approves guarantee for repayment of $140 loan

  • 29-04-2017
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ISLAMABAD -  The Economic Coordination Committee (ECC) has approved the governmen

Pakistan refuses ADB loan for railway as China becomes sole financier

  • 29-04-2017
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ISLAMABAD: Pakistan has refused part financing from the Asian Development Bank (AD

Full-day report: PSX ends week in red

  • 28-04-2017
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The Pakistan Stock Exchange ended the week on a negative note, with the benchmark

Stocks retreat as investors take profits

  • 28-04-2017
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KARACHI: Stocks dropped on Thursday as investors decided to book profit, partly to

SECP amends Public Sector Companies Rules

  • 28-04-2017
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ISLAMABAD -  The Securities and Exchange Commission of Pakistan (SECP) has amende

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’s reserves fall 2.23%, amount to $16.05b

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decre

SBP to remain closed on May 1

KARACHI - The State Bank of Pakistan will remain closed on May 1, 2017 (Monday) on the occ

Reserves losing half a billion dollars every month

KARACHI: Foreign exchange reserves have been dropping by a monthly average of half

Pakistan refuses ADB loan for railway as China becomes sole financier

ISLAMABAD: Pakistan has refused part financing from the Asian Development Bank (AD

ZTBL waived off Rs21.5bn during last ten years

ISLAMABAD: The Senate was informed that Rs21.5 billion including Rs8.7 billion pri

World Bank to help build Peshawar-Kabul highway

WASHINGTON: Finance Minister Ishaq Dar speaks to Saudi Finance Minister Mohammed A

ADB appoints first female director in Pakistan

The Asian Development Bank (ADB) has appointed Xiaohong Yang as the new Country Di

World Bank to help develop Pakistan’s renewable energy sector

ISLAMABAD: World Bank President Dr Jim Yong Kim on Monday offered technical and fi

SBP revises banks’ exposure limits

KARACHI: The State Bank of Pakistan (SBP) on Monday changed banks’ exposure limi

Pakistanis prefer to save cash at home

KARACHI: As many as 50 per cent of the “emerging affluent” Pakistanis prefer t

WORLD FINANCIAL NEWS

World

World stocks touch record high

  • 20-03-2017
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NEW YORK: A global stocks index touched a fresh record high on Friday, wrapping u

World Bank scraps order for Venezuela to pay $1.4 billion

  • 13-03-2017
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WASHINGTON: A World Bank panel has overturned part of a ruling ordering Venezuela

Asia

In India, a new banking system to reach the masses

GREATER NOIDA: At a furniture store outside India’s capital, a salesman scans the manager’s ID and takes her fingerprint on a biometric device attached to his cell phone. Within minutes, Meenakshi Sharma becomes eligible for an account with Paytm, joining the hundreds of thousands who have signed up to a payments banking system that is […]

India central bank relaxes cash withdrawal limit with immediate effect

When India killed the 1,000-rupee note, this start-up hustled

Banking & Financial Scams

Anti-money laundering, terror financing measures reviewed

ISLAMABAD – Finance Minister Ishaq Dar on Thursday chaired a meeting to review progress on reforms and measures against money laundering and terror financing. The director general of the FMU gave a briefing about the measures recently taken to curb money laundering and terror financing. He shared latest progress made by Pakistan in this regard […]

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

Banker arrested for stealing from client

  • 12-11-2016
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ISLAMABAD: The Federal Investigation Agency (FIA) has arrested a staffer of a mul

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