Latest Financial News

Rare first-ever banknotes of Pakistan on display in Dubai

  • 18-04-2017
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ISLAMABAD: On the occasion of Pakistan Day on March 23, history buffs and numismat

Pak to pay ADB $7m as fines for non-usage of loans

  • 18-04-2017
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Pakistan would pay a sum of $7 million to Asian Development Bank (ADB) as fines if

Banks closed on Thursday

  • 18-04-2017
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KARACHI: The State Bank of Pakistan (SBP) will remain closed on March 23 on accoun

How much is too much for the banking regulator?

  • 18-04-2017
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More than ever before, with the CPEC projects taking off, Pakistani bankers need t

Full day report: KSE-100 Index makes gains amidst lower activity

  • 18-04-2017
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The Pakistan Stock Exchange started the week on a positive note, with the benchmar

E&T dept initiates campaign against tax defaulting vehicles

  • 18-04-2017
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KARACHI : Provincial Excise and Taxation department has initiated a road checking campai

Stocks continue upward trajectory, index breaches 49,000 points

  • 18-04-2017
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KARACHI -  Stocks continued its upward trajectory on Tuesday as the benchmark PSX

Market watch: KSE-100 ends week with 533-point gain, but volume still down

  • 18-04-2017
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KARACHI:  Driven by value buying, the KSE-100 Index gained 532.77 points for an

SBP’s reserves fall 1.57%, amount to $16.466b

  • 18-04-2017
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KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decre

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 […]

Bank deposits increase

Last Thursday, the State Bank of Pakistan, injected Rs154bn into the banking syste

SBP spells out steps to check money laundering through banking channels

KARACHI: The State Bank of Pakistan (SBP) Monday spelled out a number of steps to

Money Market: Bank deposits rise

THE government raised Rs278.42bn from the auction of MTBs of various tenors held l

To repay Eurobond debt, Pakistan likely to borrow $750m from China

ISLAMABAD: Pakistan may borrow another $750 million as a short-term foreign comme

NBP president calls on Saad Rafique

ISLAMABAD: National Bank of Pakistan (NBP) President Saeed Ahmad on Wednesday call

Dar to represent Pakistan at IMF-WB spring meetings

Islamabad - Finance Minister Ishaq Dar would lead Pakistan delegation to the IMF

MoU to be inked for equity financing of startups through PSX

LAHORE: The Punjab Information Technology Board (PITB) and Pakistan Stock Exchang

After IMF, ADB warns against regressive reforms

ISLAMABAD: In a stark warning, the Asian Development Bank (ADB) has said that Pak

Stocks witness bullish trend, index gains 288 points

KARACHI  -   Pakistan Stock Exchange (PSX) started the week on a positive note,

SBP chief slams Balochistn financial institutions

QUETTA -  State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra on Monday c

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