Latest Financial News

Rupee caps losses

  • 23-05-2019
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KARACHI: The continuous fall in rupee’s value abated on Wednesd

Govt eyes 4pc growth as development budget slashed for 2019-20

  • 23-05-2019
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ISLAMABAD: T

Market watch: KSE-100 surges 1,195 points as investors cheer support fund creation

  • 23-05-2019
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KARACHI: The stock market saw a bull-run on Wednesday as the KSE-

FBR asks big businesses to declare hidden sales

  • 23-05-2019
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ISLAMABAD: The top taxman on Wednesday appealed to big businesses

SBP jacks up interest rate by 150bps to 12.5%

  • 22-05-2019
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KARACHI: The State Bank of Pakistan (SBP) on Monday aggressively

Rupee hits 151.50 in inter-bank market

  • 22-05-2019
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KARACHI: The rupee failed to find bottom in the inter-bank market

Budget deficit hits 11-year high at 5% of GDP

  • 22-05-2019
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ISLAMABAD: The budget deficit hit an 11-year high at Rs1.92 trill

Stocks jump 191 points on value-hunting

  • 22-05-2019
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KARACHI: In anticipation of a market support fund, stock investor

Foreign investment halves to $1.4bn

  • 22-05-2019
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As the government embarks on an arduous journey to fix the econom

After FATF, APG may also grey-list Pakistan

ISLAMABAD: As the Asia/Pacific Group (APG) on Money Laundering begins ‘mutual evaluation’ to gauge Pakistan’s compliance with global anti-money laundering and counter-terrorism financing standards, the country faces the risk of being grey-listed by the APG due to a very high ratio of nearly 70% non-compliance. The Financial Action Task Force (FATF) has already grey-listed Pakistan […]

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 […]

Fiscal blowout as deficit jumps to 5pc, revenues flat

ISLAMABAD: In the Pakistan Tehreek-i-Insaf’s first year in offi

Govt offers IMF Rs190b in new taxes for bailout

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

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

SBP expands financial literacy programme

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

128 more fake bank accounts traced, says PM Imran

Prime Minister Imran Khan has revealed that authorities have found 128 more bank a

SBP cuts economic growth forecast to 3.5-4%

KARACHI: The State Bank of Pakistan (SBP) has revised down its pr

ADB says it will not finance CPEC projects

ISLAMABAD: The Asian Development Bank (ADB) said on Wednesday that it would not f

NBP starts biometric verification

KARACHI: The National Bank of Pakistan (NBP) has started doing the biometric veri

State Bank eyes issuance of digital currency by 2025

ISLAMABAD: As the State Bank of Pakistan (SBP) promised i

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 stocks hit record highs on Modi polls lead

Indian stocks jumped to record highs on Thursday as early results in the world’s biggest election showed Prime Minister Narendra Modi on course for a second term. Traders and business leaders welcomed trends in the vote count showing Modi’s Bharatiya Janata Party (BJP) was set to win a majority, expressing hopes it could lead to […]

Indian govt downplays rupee’s drop as markets panic

Indian rupee falls to all-time low against dollar

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