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,…
Chairman Centre of Advisory Services for Islamic Banking and Finance (CAIF), Former Head of FSCD SBP, Former Head of Research Arif Habib Investments and Member IFSB Task Force for Development of Islamic Money Market, Former Member of Access to Justice Fund Supreme Court of Pakistan. Zakat, one of the five pillars of Islam, means giving…
Karachi, May 07,2020: Dr. Abdul Hafeez Shaikh, Advisor to the Prime Minister on Finance and Revenue, formally launched the Secured Transactions Registry (STR) today. The STR, established under the Financial Institutions (Secured Transactions) Act, 2016, for registration of security interests/charges created by entities other than companies on their movable assets, has been operationalized by the…
Karachi, May 06, 2020: Ministry of Finance and State Bank of Pakistan introduce risk-sharing mechanism to support bank lending to SMEs and small businesses to avail SBP’s Refinance Facility to Support Employment. Taking cognizance of the SMEs finding difficulties in arranging adequate collateral and banks’ risk averseness in taking exposures for such lending under the…
No matter how many years of experience you have in running a business, there are times when you will be faced with a financial crisis—either because of a degrading economy or losses within your own business. However, business demands a strong-hearted individual who, when faced with a crisis, picks themselves up, dust themselves off and…