A Chinese online bank backed by smartphones and home appliances maker Xiaomi Inc [XTC...
New Hope Group Co Ltd said in a statement on Tuesday shareholders and regulators had approved the name Sichuan XW Bank for the lender...
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...
NEW DELHI: India on Sunday withdrew a warning not to share photocopies of the national biometric identity card after the announcement caused widespread panic on social media...
BEIJING: China’s banking and insurance regulator on Saturday issued draft rules on commercial banks’ online lending business, banning the use of such loans for riskier investments and capping banks’ online consumer credit, in a move to rein in financial risks...
The regulations are the first that specifically target banks’ online lending business, which has been expanded aggressively under the development of financial technology, that...
KARACHI: A cyberattack on the National Bank of Pakistan (NBP) has been detected that has disrupted its services which are likely to be restored by Monday, said a statement issued by the bank on Saturday...
”“Remediation efforts are under way using industry-leading subject matter experts, including international resources wherever required,” said the bank...
DUBAI: HSBC Bank Oman has agreed to sell its banking business in Pakistan to Meezan Bank , a sharia-compliant Pakistani lender, it said on Sunday...
The deal, which is subject to regulatory and other approvals, is expected to be completed during the second half of 2015, the bank said in a statement...
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...
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...
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...
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...
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...
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...
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...
KARACHI: Withholding tax (WHT) on financial transactions is acting against the goal of achieving financial depth, a State Bank of Pakistan’s (SBP) report said on Friday, highlighting that for the first time since 2009-10 the monetary expansion came more from currency in circulation than the bank deposit growth...
The campaign could not sustain despite the fact that the business community, particularly retailers and medium-sized...
ISLAMABAD: Pakistan is home to 100 million adults without a bank account, with 13 per cent adults citing religious concerns as a reason for not having account at a financial institution, a World Bank report on the use of financial services revealed...
The ‘Global Findex Database’ said high costs turned out to be at least as important as religious concerns in each of the economies — cited by 21pc in Pakistan and 19pc in Turkey...