Pakistan News

    Mashreq Bank Qatar Iban Generator Pakistan

  • Loadshedding ignites generator sales in Karachi

    But the latest row between K-Electric and its main fuel supplier, the Sui Southern Gas Company Ltd (SSGC), has reignited the generator market all over again...

    Prices for the imported generator sets have surged by almost 30 per cent in some cases, receiving a triple boost from a sudden spike in demand and a simultaneous devaluation of the rupee, as well as a 10pc imposition of regulatory duties on imports...

  • Generator sales decline amid improving power supply

    “Generator market has no buyers in this year’s summer season,” owner of Sikandar and Co, Sikandar Shahzada said, attributing the lull in demand for generators to 40 per cent hike in prices...

    Pakistan Machinery Merchants Group President Khurram Saigal said generator prices have risen by 30pc in the last twelve months due to rupee depreciation...

  • Qatar central bank warns against trading in bitcoin

    DOHA: Qatar’s central bank has warned financial institutions in the country not to trade in bitcoin or other cryptocurrencies, according to financial sources and a circular seen by Reuters...

    The letter sent to financial institutions by the Qatar central bank said it “politely requested banks and exchange houses in the country not to deal in any way with this currency, or exchange it with another currency, or open accounts to deal...

  • 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...

  • 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...

  • 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...

  • 100m Pakistanis without a bank account, says World Bank

    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...

  • Pakistan's exports to Qatar intact, so far

    PAKISTAN’S exports to Qatar remain intact so far, showing no signs of an immediate fall in the aftermath of a diplomatic and political row between Doha and other Gulf Cooperation Council (GCC) countries...

    Merchandise exports to Qatar slipped to $52...

  • Qatar wins Pakistan’s mediation support to resolve Gulf crisis

    ISLAMABAD: Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani arrived here on Tuesday for talks on his country’s diplomatic row with the Arab quartet ahead of a fresh mediation effort by Turkey...

    A letter by Qatar’s former prime minister Sheikh Hamad Bin Jassim bin Jaber Al Thani is one of the important documents submitted by the Sharif family to the apex court in their defence...

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