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: 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...
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...
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...
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...
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...
KARACHI: Bank Alfalah received the Best Bank Award for 2019 at the 4th Pakistan Banking Awards ceremony held here on Friday...
Bank Alfalah also won the Best Consumer Franchise Award for 2019...
ISLAMABAD: Pakistan must speed up reform of the energy sector and bring more women into the labour force if it wants to quicken economic growth that lags far behind regional peers, the World Bank’s country representative said on Monday...
The World Bank expects Pakistan’s economy to expand by 4...
KARACHI: The World Bank projects that Pakistan’s GDP growth rate will be 5...
In its Pakistan Development Update, a biannual publication shedding light on the state of the economy and its future prospects, the global lender said the economic growth rate projection assumes that oil prices would increase slightly and that “political and security risks will be managed”...
KARACHI: The World Bank is preparing a housing finance plan to help Pakistan meet its growing demand for residential units...
In this connection, a World Bank delegation, including representatives of Pakistan Mortgage Refinance Company (PMRC), met National Bank of Pakistan (NBP) President Saeed Ahmad on Wednesday...
ISLAMABAD: The World Bank has warned that macroeconomic risks in Pakistan have increased substantially during the fiscal year 2017, as the external balance is particularly vulnerable given the persistent current account deficit, affecting the country’s reserve position...
Pakistan’s weaker macroeconomic discipline has led to vulnerabilities in the balance of payments...
Bank of China has formally launched its operations in Pakistan, with its first branch inaugurated in Karachi on Tuesday...
Speaking to the inauguration ceremony in Islamabad, Bank of China Chairman Chen Siqing said it was "a great honour" for the bank to be launching in Pakistan, observing that the Karachi branch was its first in South Asia...
ISLAMABAD: Bank of China (BoC) formally began its operations in Pakistan on Tuesday, with the official launch performed by President Mamnoon Hussain at Aiwan-e-Sadr...
Addressing the launch ceremony, President Hussain said the bank would play an important role in providing the required resources for promoting commercial activities and developing infrastructure...