Banking
Bank Alfalah reports 23.5% growth in profit
Karachi, October 17 2024: The Board of Directors of Bank Alfalah Limited, in its meeting held on October 17, 2024, approved the Bank’s financial results for the nine months ended September 30, 2024. Bank Alfalah reported a profit after tax of PKR 33.643 billion, an improvement of 23.5% over the same period last year (SPLY),…
SME Banking: SBP Launches “Challenge Fund”
KARACHI: The State Bank of Pakistan (SBP) has announced to launch of a “Challenge Fund” for technology adoption & digitalization of SME banking to support innovative solutions for SME banking in the country. The SBP has been taking measures to facilitate banks in improving access to finance for the SME sector and as a part…
SBP Implements new reporting requirements for authorized dealers
Karachi, October 11, 2024: The State Bank of Pakistan (SBP) has announced significant updates to the reporting requirements for Authorized Dealers in the foreign exchange market, following an amendment under Para 33 of Chapter 12 of the Foreign Exchange (FE) Manual. Effective immediately, Authorized Dealers are now required to submit specific statements . Appendix V-20…
World bank country chief review $3.1bn sindh portfolio
KARACHI, October 10 2024: Sindh Chief Minister Syed Murad Ali Shah met with a World Bank delegation, headed by Country Director Najy Benhassine, to thoroughly review the $3.124 billion Sindh portfolio and establish new deadlines for various development projects. The high-level meeting, which took place at the CM House on Thursday. It was attended by…
BankIslami strengthens its national footprint with ‘500 Branches’ milestone
Karachi, October 10, 2024: BankIslami Pakistan Limited, a leading financial institution, announces a significant milestone in strengthening its presence with the opening of its 500th branch in Nankana Sahib. This achievement reflects the bank’s unwavering commitment to delivering equal services, and exceptional customer care, ensuring complete financial security, upholding the core principles of the Islamic…