Latest Financial News

ADB says it will not finance CPEC projects

  • 12-02-2019
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ISLAMABAD: The Asian Development Bank (ADB) said on Wednesday that it would not f

Rupee finds stability after SBP intervention

  • 12-02-2019
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KARACHI: Following intervention from the StateBANK  of Pakistan (SBP), the exchan

Rupee to come under pressure as reserves slide

  • 12-02-2019
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KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between

Currency: Rupee stable against dollar

  • 12-02-2019
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KARACHI: The rupee remained stable against the dollar at 105.4/105.6 in the inter

Foreign debt, declining reserves pose major challenges: Moody’s

  • 12-02-2019
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ISLAMABAD: Moody’s – one of the three main global credit rating agencies –a

NBP starts biometric verification

  • 12-02-2019
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KARACHI: The National Bank of Pakistan (NBP) has started doing the biometric veri

FIA’s bank transaction notice baffles youth

  • 12-02-2019
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JHANG: The Federal Investigation Agency, Karachi, has issued notice to a student o

HBL president comments on Pakistan’s dialogue with IMF, CPEC and digitalisation

  • 12-02-2019
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BALI: Muhammad Aurangzeb was invited as the only CEO representative of the Pakist

Market watch: Stocks bounce back as KSE-100 surges 984 points

  • 12-02-2019
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KARACHI: The stock market bounced back on Wednesday from its continued dismal per

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 […]

Banking sector deposits grow by 8pc in 2018

LAHORE - Pakistan banking sector deposits grew by 8 percent YoY during 2018, a dec

Remittances fall due to global economic slowdown

KARACHI: The remittances sent home by overseas Pakistani workers have remained sl

Rupee strengthens against dollar

KARACHI: The rupee strengthened against the dollar at Rs138.64/Rs139.02 in the in

SBP expands financial literacy programme

KARACHI: The State Bank has decided to expand its National Financial Lite­racy Pr

Govt borrows Rs113bn in just one week

KARACHI: The government has borrowed Rs113 billion for budgetary support within ju

Stocks add 202 points after hydrocarbon discovery

KARACHI: Bulls dominated the stock market on Tuesday pushing the KSE-100 index up

Govt offers IMF Rs190b in new taxes for bailout

ISLAMABAD: Pakistan has offered the International Monetary Fund (IMF) to impose R

UAE matches Saudi Arabia with $3b support to Pakistan ‘in testing times’

The United Arab Emirates announced on Friday that it would deposit $3 billion in t

Foreign exchange: SBP reserves surge 10.85%, amount to $8.05b

KARACHI: The foreign exchange reserves held by the central bank soared 10.85% on

APPS collaborates with HabibMetro to launch ‘PayFast’

KARACHI: Avanza Premier Payment Services (APPS) and HabibMetro Bank signed an agr

WORLD FINANCIAL NEWS

World

Erosion in lira’s value points to bigger problems

  • 20-08-2018
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Last Friday, the Turkish lira lost close to seven per cent of its value in a singl

BoE raises rates above crisis lows as Brexit looms

  • 04-08-2018
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LONDON: The Bank of England pushed interest rates above their financial crisis low

Asia

Indian govt downplays rupee’s drop as markets panic

THE plunging Indian rupee might have sent investors in the stock markets scurrying for cover last week, but government leaders and various business heads have tried to soften the impact of the currency’s sharp fall on the domestic economy. Last week the rupee plunged to a lifetime low of 70.09 against the United States’ dollar, […]

Indian rupee falls to all-time low against dollar

Wavering risk appetite after Manchester blast weighs on sterling, Asia stocks, lifts yen

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