Latest Financial News

Stocks manage modest gains amid thin volumes

  • 24-07-2017
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KARACHI: Complete lack of interest in trading at the stock market saw the volume d

Bank deposits increase 19% to reach Rs11.9tr

  • 24-07-2017
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KARACHI    : Bank deposits have increased 19% to reach Rs11.9 trillion in Jun

Stock market plumbs year’s lowest level as political turmoil persists

  • 24-07-2017
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KARACHI: Political uncertainty, submission of the JIT reportand adjournment of Su

Dar urged to maintain cash subsidy on exports

  • 24-07-2017
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ISLAMABAD: Commerce and textile ministries have urged the Ministry of Finance to a

Currency: Rupee weakens against dollar

  • 24-07-2017
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KARACHI: The rupee weakened against the dollar at 105.7/105.9 in the inter-bank m

Mutual funds, not brokers, dictate the bourse now

  • 24-07-2017
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On Tuesday, when the KSE-100 index tanked 2,153 points, the record single-day decl

MCCI demands release of funds

  • 24-07-2017
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MULTAN: The government has failed to achieve the tax targets fixed for 2016-17 de

IMF projects Pakistan’s external financing requirements at $16.2b

  • 24-07-2017
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ISLAMABAD: The International Monetary Fund (IMF) has said that Pakistan’s gross

Foreign investment hits 8-year high

  • 21-07-2017
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KARACHI: Foreign direct investment (FDI) increased 4.6 per cent to $2.41 billion i

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 […]

Rupee report: Rupee in search of direction

THE rupee appeared to be in search of direction last week against the dollar amid

Rain of new taxes possible

KARACHI: A welter of new revenue measures could become necessary this fiscal year,

Mutual funds, not brokers, dictate the bourse now

On Tuesday, when the KSE-100 index tanked 2,153 points, the record single-day decl

LCCI calls for revival of Pakistan Steel Mills

LAHORE - The Lahore Chamber of Commerce & Industry (LCCI) has expressed concer

IMF for ending inequitable subsidy on electricity tariff

ISLAMABAD: The Inter­national Monetary Fund (IMF) has advised Pakistan to complet

Govt decides to maintain current rupee-dollar parity

ISLAMABAD: The federal government has decided to maintain the existing exchange r

Money Market: Bank deposits rise by 2.34pc

DEPOSITS and other accounts of all scheduled banks stood at Rs11,980.69 billion on

Doomsday at the stock exchange

KARACHI: Stock investors were in for a rude awakening on Tuesday as the KSE-100 in

IMF, Pakistan fail to see eye to eye inassessment of economy

ISLAMABAD: Pakistan and International Monetary Fund (IMF) remained poles apart in

Currency: Rupee remains stable against dollar

KARACHI: The rupee remained stable against the dollar at 104.8/105 in the inter-b

WORLD FINANCIAL NEWS

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