Business
Rs 1.68 billion penalty on 15 Pakistani banks
KARACHI, July 12, 2020: Some Rs 1.68 billion penalty has been imposed by the central bank on 15 bank for on deficiencies in regulatory compliance and does not constitute a comment on the financial Soundness Of the entity. These fines were imposed on United Bank Ltd, JS Bank Ltd, Meezan Bank Ltd, Faysal Bank Ltd,…
PTI reduced Markup rate for Kamyab Jawan Scheme
KARACHI, July 10, 2020: The PTI government has decided to reduced the markup rate for the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES) to increase it’s disbursement. Accordingly, following the directives of the federal government, the State Bank of Pakistan has revised the key features of the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme…
Telenor Microfinance Bank reports PKR 18bn in Revenue for Financial Year 2019
Karachi, July 08, 2020: Telenor Microfinance Bank has reported revenue of PKR 18 billion for the financial year ended December 31, 2019. This was led by an impressive expansion in the branchless banking customer base of the Bank’s Easypaisa wallet. A two-fold increase in Year-Over-Year wallet accounts was witnessed with more than 3 million increase…
SBP reduced markup rate to 5 percent on refinance schemes
Karachi, July 8, 2020: The State Bank of Pakistan (SBP) reduced markup rate to 5 percent on refinance schemes for investment and introduces other enhancements Taking cognizance of the negative fallout of COVID-19 Pandemic for the economy, State Bank of Pakistan (SBP) has been constantly taking steps to safeguard the businesses and households and a…
SBP extends Deferment of Principal Amount facility till Sep 2020
Karachi, July 7, 2020: Considering the fact that COVID-19 pandemic is continuing to stress the cash flow of small and medium sized businesses and households, SBP has decided to extend the Deferment of Principal Amount facility up till 30th September 2020. Its part of COVD-10 measures: SBP This facility will however be available for Small…