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  • Regulatory requirements for AMCs, modarabas

    Meanwhile, the SECP has also introduced standardised regulatory requirements for branches of asset management companies (AMCs), investment banks, leasing companies and modarabas to protect the investor interest...

    The requirements stipulate that the AMCs, non-banking financial companies (NBFCs) and modarabas will have to obtain approval of the commission before opening and closing their branches in any capital market hub...

  • Australia tightens English requirements for foreign students

    Australia is tightening English language requirements for foreign students in, what it said on Thursday, is a bid to improve standards across the country's Aus$28 billion international education market...

    Now they will also have to take a new official test of their language skills before they can start such university or vocational studies to ensure they have reached the required standard, said Education Minister Simon Birmingham... ...

  • China to remove visa requirements for Taiwanese

    BEIJING: China will lift an entry permit requirement for Taiwanese travelling to the mainland, state media reported on Sunday, part of a wider plan to reduce barriers between the two communities...

    Yu Zhengsheng, chairman of the National Committee of the Chinese People’s Political Consultative Conf­erence, made the announcement at a forum in the southern Chinese city of Xiamen, the official Xinhua News Agency reported, but did not give a...
  • Indian national Uzma will not be repatriated until legal requirements are completed: FO

    The Foreign Office (FO) on Tuesday said that Uzma, an Indian woman who came to Pakistan to marry a man from Buner and went ‘missing’ last week, will be repatriated only after all legal requirements are completed...

    FO Spokesperson Nafees Zakaria told DawnNews that Uzma's case is currently being heard in court and she will only be able to return once all legal requirements are complete...

  • SBP formulates products disclosure requirements

    KARACHI: The State Bank has formulated product disclosure requirements (PDRs) for all types of personal, housing and auto finance products which will help consumers to make informed decisions and enhance their confidence in financial products...

    Non-compliance of the product disclosure requirements will attract punitive action,” said the SBP...

  • China eases bank lending requirements

    BEIJING: China on Friday loosened the means for calculating the reserve requirement ratios of banks, the state news agency Xinhua reported, effectively increasing the amount of money banks can lend...

    The move does not amount to a formal cut in the reserve requirement ratio (RRR), but will allow banks to undershoot it by as much as one percent on a daily basis as long as they meet the requirement on average
  • State Bank widens Islamic banks' benchmark requirements

    The State Bank of Pakistan (SBP) has amended its regulations to exempt Islamic banks from using interest-based benchmarks for some of their financing products, the latest government step aimed at boosting Islamic finance...

    Despite a direct ban on charging interest, interest-based benchmarks are used as a pricing reference by a majority of Islamic banks, due in part to the absence of stable and widely-published alternatives
  • Mobilink says it has met requirements for merger with Warid

    ISLAMABAD: Cellular service provider, Mobilink, told a parliamentary panel on Wednesday that it has closed off several dozen franchises and laid off employees following all the regulatory approvals for its merger with Warid Telecom...

    The company was questioned by the Senate Standing Committee on Information Technology about terminating the contracts of 263 franchises after it merged with Warid earlier this year
  • NSC briefed on measures to meet FATF requirements

    Finance Minister Shamshad Akhtar gave a detailed presentation to the committee about the upcoming meeting of the Financial Action Task Force (FATF) in Paris and the measures, both administrative and legal, taken so far by the country to meet FATF requirements, a press release from the Prime Minister's Office said...

    Participants of the meeting expressed satisfaction over steps taken so far to fulfill FATF's requirements...

  • Industry slams quarantine requirements for raw hide

    KARACHI: The Pakistan Leather Garments Manufacturers and Exporters Association (Plgmea) has urged the government to withdraw quarantine requirements for imported raw hide and skin...

    Under the said SRO, quarantine requirements were imposed on imports of basic raw material for leather industry such as raw hides and skins of goat, sheep, lamb, cow and buffalo...

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