Banking Inputs

ISLAMABAD: The National Bank of Pakistan (NBP) has planned to surpass the 1,500 domestic branches and 1,500 ATM mark by end of 2017 thus bringing more closer to its customers, Banks sources said. The NBP having 1,409 branches in Pakistan and 25 overseas branches in 18 countries, has the widest network coverage in the country. […]

Allied Bank has announced the launch of PayPak card — a locally switched card with no dependency on any international gateway. PayPak cards are to be operated by 1Link and are duly approved by State Bank of Pakistan. It won’t be out of place to mention that International Cards (such as Visa or MasterCard) are […]

ISLAMABAD – The Pakistan Economy Watch (PEW) on Sunday said landed nobility continued to misuse cheap agricultural credit, thus barring growth of this vital sector. “As the banks pour more money into the agricultural sector, the output has reduced which proves misuse of loans by some major borrowers,” it said. “Last year, banks disbursed Rs598.3 […]

KARACHI: The State Bank of Pakistan (SBP) on Monday introduced “Regulations for Mobile Banking Inter­opera­bility” to facilitate the branchless banking service providers. “The SBP and Pakistan Tele­communication Authority (PTA) have developed the regulations for market participants, including banks, mobile network operators and technology service providers,” said a circular issued by the SBP. Since the issuance […]

ONLINE banking is growing despite heavy odds which have restricted its pace of market penetration to realise its full potential. As the usage of the internet and smart-phone is expanding, e-banking is also spreading its footprints. More and more people are carrying out diverse financial transactions via internet or smart-phone applications including account-to-account transfers, payment […]

KARACHI: United Bank Limited (UBL) and NADRA Technologies Limited (NTL) recently entered into a formal agreement for the provision of biometric-based transaction authentication services on the bank’s ATM network. With the signing of this agreement, UBL has become the first bank in the industry to be officially connected with NADRA to facilitate customers to access […]

KARACHI: In a dog and pony show held for the chairman of the Senate Standing Committee on Finance on Thursday, Saleem Mandviwalla told journalists he appreciated the State Bank of Pakistan (SBP) for controlling the amount of counterfeit currency in the economy. He made the comment in a 30-second press briefing, which started an hour late […]

KARACHI: Currency dealers deposited a record $192 million in banks last month, reflecting surplus supply of US dollars in the open market. “Exchange companies at times deposit up to 70 per cent of their dollars stock in banks due to surplus supply and low demand,” Forex Association of Pakistan’s President Malik Bostan, who finalised the […]

KARACHI: Banks’ locker-holders are disturbed over the incidents of lockers breaking, which deprive them of their valuable holdings while they get nothing or peanuts in the name of compensation. Since 2013, three banks have been targeted and each time security guards were found to be involved. The latest incident happened on Monday when robbers broke […]

KARACHI: The State Bank of Pakistan has asked commercial banks to deploy more automated teller machines (ATMs) as the currently available network of 9,000 machines is insufficient to match the growing demand. “Density of ATMs is low in Pakistan and we need to increase it,” said SBP Deputy Governor Riaz Riazuddin while addressing the 13th […]