Pakistan News

    Al Faysal Bank Rawalpindi

  • Faysal Bank to open over 100 branches

    DUBAI: Bahrain-based Ithmaar Bank plans to add more than 100 branches in Pakistan this year through its subsidiary Faysal Bank, to capitalise on the country’s low penetration rate of banking services, a senior executive said...

    Ithmaar Bank owns 66 per cent of Faysal Bank, whose contribution to the Islamic retail bank’s overall balance sheet would likely grow to more than half as a result of the expansion, Ithmaar Deputy Chief...

  • Earnings of MCB, Faysal, Meezan rise

    KARACHI: MCB Bank reported on Wednesday that its profit for January-September amounted to Rs19...

    7pc “mainly on account of NIB Bank merger” in the third quarter, the bank said in its press release...

  • Sick of love triangles on TV? We love Faysal Qureshi's Mol for rising above

    Whether it’s the novel pairing of Faysal Qureshi and Naveen Waqar in the lead, award-winning writer Amna Mufti’s well-crafted script, or director Ilyas Kashmiri’s efficient handling of this original story by Faysal Manzoor Khan, this serial is making waves...

    Shahryar Hassan’s (Faysal Qureshi) family insists he marry his much younger cousin Sajal (Iqra Aziz), and in his desperation to escape a union he has absolutely no interest in,...

  • IS graffiti found on State Bank wall in Rawalpindi

    RAWALPINDI:  The police have launched an investigation and registered a case against unidentified persons after noticing the name of the so-called Islamic State (IS) written in chalk on the rear wall of the State Bank of Pakistan’s building in Saddar on Thursday...

    The wall chalking in the high security area in Rawalpindi alerted the police and intelligence agencies who removed it and started looking for those responsible after...

  • Bank robbed in broad daylight in Rawalpindi

    RAWALPINDI: A gang stormed a private commercial bank on Peshwar Road in broad daylight on Monday, injuring the security guards on duty and keeping the staff at the bank hostage before escaping with Rs5...

    The manager at the bank, Zulfiqar Kiani, told the police that he was busy attending customers at the bank when a car stopped outside the door and three men disembarked...

  • 32 bank accounts compromised in Rawalpindi ATM skimming incident

    Hundreds of thousands of rupees have been skimmed out of 32 accounts of a private bank located in the Saddar area of Rawalpindi, indicating the presence of ATM hackers in the twin cities including Islamabad, DawnNews reported on Wednesday...

    Reports of unauthorised withdrawals have caused a panic among account holders, whereas the bank's staff seem helpless in the face of the security breach, simply promising those affected that their...

  • 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”...

    United Bank received the same award last year...

  • 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...

  • 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...

  • Withholding tax slows down bank deposit growth: State Bank

    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...

  • 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...

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