Pakistan News

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  • India central bank says linking national ID number to bank accounts mandatory

    MUMBAI: India’s central bank on Saturday dismissed media reports that it was not necessary to link national identity card numbers, known as Aadhar numbers, to bank accounts...

    “The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017,” it said in a statement...

  • India needs more jobs for women to boost growth: World Bank

    NEW DELHI: India must reverse a trend of falling women’s participation in the job market if it is to achieve its ambition of double-digit growth, the World Bank said on Monday...

    The World Bank in its latest report said just 27 per cent of Indian women were working or actively looking for a job, a matter of “serious concern” that was holding back economic growth...

  • Bahrain's Bank Alkhair gets nod to sell stake in Pakistan's Burj Bank

    Bahrain-based Bank Alkhair said on Wednesday it had received approval from the State Bank of Pakistan to sell its stake in Pakistan's Burj Bank to a subsidiary of Bahrain's Al Baraka Banking Group...

    Al Baraka, one of the Gulf's top Islamic banks, had said in September that its Pakistani unit, Al Baraka Pakistan, would merge with Burj Bank to create an institution with assets totalling more than $1...

  • Creating the right kind of jobs should be the priority for Pakistan

    In an evolving world of work— the rapid creation and destruction of jobs— the issue of unemployment has acquired centrality in the development process and has led to the question of whether jobs, or workers, should be protected?Looking from an egalitarian perspective, the welfare of millions revolves around four things: full employment (including self-employment), fair wages, reasonable prices and an accelerated programme for community...

  • Pakistan needs to create more jobs: WB

    ISLAMABAD: The country’s economy needs to create more jobs by taking advantage of the large influx of a well-educated young labour force, says a new research by the World Bank...

    One of the key findings is that there are insufficient jobs where bachelor and graduate degree holders are expected to use their acquired skills...

  • Pakistan's younger women riding a digital wave in drive for better jobs

    When Kainat Naz joined a women-friendly technology boot camp a year ago, she had no idea it would completely change her life and her views on how women can work in conservative Pakistan...

    So she signed up for a tech programme called TechKaro, an initiative by Circle — a social enterprise that aims to improve women’s economic rights in Pakistan — and is now working full-time for a software company...

  • National Bank profit dips 15pc

    KARACHI: National Bank of Pakistan (NBP) posted a profit of Rs8...

    “Profitability of the bank remained under pressure during the period on account of lower interest rates and maturity of high-yielding Pakistan Investment Bonds,” said a press release issued by the bank on Thursday...

  • National Bank down Wapda 3-1 to retain junior hockey title

    KARACHI: The second string of the National Bank of Pakistan (NBP) on Friday proved that they are a force to be reckoned with when they thumped Water And Power Development Authority (Wapda) 3-1 in a repeat final to retain their title in the 34th National Junior (under-20) Hockey Championship at the Hockey Club of Pakistan Stadium on Friday...

    Pakistan Hockey Federation (PHF) president Akhtar Rasool, who graced the occasion, awarded the...

  • EOBI to disburse pension through National Bank

    KARACHI: The Emp­loyees Old-Age Benefit Insti­tution (EOBI) has decided to transfer the private sector employees’ pension from Easypaisa to National Bank of Pakistan (NBP)...

    EOBI has advised all the pensioners to approach the nearest branch of NBP along with their pension book and National Identity Card...

  • Rahu alleges Sindh Bank being used to plunder national wealth

    BADIN: President of the Sindh chapter of the Pakistan Muslim League-Nawaz (PML-N) Ismail Rahu on Tuesday alleged that the Sindh Bank had been established and operated to plunder the national exchequer through a few people sitting within the provincial government...

    He was responding to the media’s questions regarding the ongoing investigation into alleged misappropriation of Rs700-750 million recently drawn from the bank by managers...

  • Bank Alfalah declared best bank for 2017

    KARACHI: Bank Alfalah received the Best Bank Award for 2017 for demonstrating “the most significant contribution to national development and the most effective management of its resources, including its employees, clients, franchise community and financials”...

    It received the honour at the second Pakistan Banking Awards, which were jointly organised by the Institute of Bankers, A...

  • Summit Bank eyes Burj Bank for Islamic banking entry

    KARACHI: Summit Bank has received approval from the State Bank of Pakistan (SBP) to conduct due diligence on Burj Bank, it said in a stock exchange filing, in the latest bid for the unlisted lender, which is seeking to boost capital through a stake sale...

    The acquisition of a majority shareholding in Burj Bank would fit the long term strategy of Summit Bank, which is planning to convert its operations to conform to Islamic principles...

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