Banking
Meezan Bank holds its 63rd Shariah Board Meeting chaired by Justice (Retd.) Muhammad Taqi Usmani
Karachi, December 20, 2023: The 63rd meeting of Meezan Bank’s Shariah Board held at Darul Uloom, Karachi under the Chairmanship of Justice (Retd.) Muhammad Taqi Usmani, along with other members of the Shariah Board, Dr. Muhammad Imran Ashraf Usmani, Sheikh Esam Mohamed Ishaq and Mufti Muhammad Naveed Alam (Resident Shariah Board Member). Meezan Bank’s Founding…
Karandaaz and Bank Alfalah join hands to scale up female agent network and enhance financial inclusion
Karachi, December 12, 2023: Bank Alfalah, one of the largest commercial banks in Pakistan signed an agreement with Karandaaz to expand the female agent network in Pakistan. This partnership was signed in the presence of Karandaaz Chairperson Salim Raza, Bank Alfalah President and CEO Atif Bajwa, Karandaaz CEO Waqas ul Hasan, Group Head Digital Banking…
Five commercial banks benchmark sustainable policies in Pakistan
Islamabad, December 06, 2023: Policy rankings of five leading commercial banks in Pakistan “Benchmarking the Sustainability Policies of Banks in Pakistan,” show all five banks have low policy commitments on climate change, human rights, gender equality, and labour rights, while none disclose policies on nature and tax when lending money to companies. Speaking at the…
U Microfinance Bank announces continued profitability in latest financial results
Karachi, December 06, 2023 : U Microfinance Bank, Pakistan’s fastest-growing microfinance bank, has published its financial results for the half year ended 30th, June 2023, at its Board of Directors’ meeting held in Islamabad on November 30th, 2023. During the first half of 2023, the bank reported a revenue of PKR 21.5 Billion with a…
Rupee’s rebound against USD persists
Karachi, November 29, 2023 :On Wednesday, the Pakistani rupee sustained its recovery against the US dollar in the interbank market. As per the State Bank of Pakistan (SBP), the Pakistani rupee appreciated by Re0.12, concluding at Rs285.39 in the interbank market. Forex dealers reported the local currency trading at Rs286.50 in the open market. In…