Latest Financial News

State Bank eyes issuance of digital currency by 2025

  • 12-04-2019
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ISLAMABAD: As the State Bank of Pakistan (SBP) promised i

Revenue collection stalls as custom duties alone show buoyancy

  • 12-04-2019
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ISLAMABAD: Revenue collection during the first nine month

World Bank downgrades rating of Punjab project

  • 12-04-2019
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ISLAMABAD: The World Bank has downgraded the rating of a $10

Dollar crosses Rs141 mark in interbank

  • 12-04-2019
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KARACHI: The dollar surpassed the barrier of Rs141 in the

Pakistan remains firm, IMF changes its stance: Umar

  • 12-04-2019
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Talks between Pakistan and the IMF broke down late last year due

NBP starts biometric verification

  • 12-04-2019
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KARACHI: The National Bank of Pakistan (NBP) has started doing the biometric veri

FIA’s bank transaction notice baffles youth

  • 12-04-2019
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JHANG: The Federal Investigation Agency, Karachi, has issued notice to a student o

Pakistan hints at adopting flexible exchange rate

  • 12-04-2019
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ISLAMABAD: Pakistan has hinted at adopting a more flexible e

World Bank sees Pakistan’s potential to be a $2 trillion economy

  • 05-04-2019
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ISLAMABAD: Pakistan could become a $2 trillion economy in th

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 […]

SBP expands financial literacy programme

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

Stocks add 202 points after hydrocarbon discovery

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

Market watch: Weak global economic outlook prompts sell-off in Pakistan’s market

KARACHI: The stock market faced a steep drop on Monday as it took

China deposits $2.2 billion in SBP reserves

KARACHI: China, the all-weather friend of Pakistan, has deposited

Rupee strengthens against dollar

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

SBP cuts economic growth forecast to 3.5-4%

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

Rupee finds stability after SBP intervention

KARACHI: Following intervention from the StateBANK  of Pakistan (SBP), the exchan

Rupee to come under pressure as reserves slide

KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between

Currency: Rupee stable against dollar

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

ISLAMABAD: Moody’s – one of the three main global credit rating agencies –a

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