Quarterly Payment Systems Report for the quarter Q1 of FY2023-24 is released by the State Bank of Pakistan (SBP), highlighting key advancements within the country’s payment ecosystem and providing an inclusive overview of digital transactional activities. As of quarter-end, there were 33 Banks, 11 Microfinance Banks (MFBs), 4 Electronic Money Institutions (EMIs) and 5 Payment…
In continuation of ongoing efforts to strengthen the banking sector’s efficiency and fairness in complaints handling and to address the issues faced by banking customers in complaints lodgment, the State Bank of Pakistan (SBP) has launched ’Sunwai’ – a customer complaint service portal and app. ‘Sunwai’ serves as a one-window operation for banking customers to…
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…
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…
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…