Karachi, Pakistan – Shareholders of Silkbank Limited (PSX: SILK) have approved the proposed amalgamation of the bank into United Bank Limited (PSX: UBL), pending regulatory approvals. The merger will proceed under Section 48 of the Banking Companies Ordinance, 1962, with final authorization required from the State Bank of Pakistan (SBP) and the Competition Commission of […]
Islamabad: Yango Pakistan, a subsidiary of the global tech company Yango Group, has announced a strategic partnership with Elixs Bikes to introduce cost-effective electric bikes (EV bikes) for its partner drivers. The initiative, which will soon be extended to couriers, marks a significant step towards sustainable and economical urban mobility. Through this collaboration, Elixs Bikes […]
barq Holding, the parent company of barq Financial, has officially launched its barq Digital Wallet in Pakistan as part of its international expansion strategy. The move aims to enhance digital payment solutions and promote financial inclusion in the region. The launch follows the remarkable success of the barq Financial app in Saudi Arabia, where it has emerged […]
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced new Consumer Protection Principles for Non-Banking Microfinance Companies (NBMFCs), mandating the issuance of a Key Fact Statement (KFS) for borrowers to ensure transparency and consumer rights protection. In a recently issued Circular No. 5 of 2025, SECP has directed all NBMFCs and the Chief […]
Lahore, February 17, 2025 – The Board of Directors of The Bank of Punjab (BOP) convened on February 17, 2025, to review and approve the Annual Audited Financial Statements for the year ending December 31, 2024. Despite challenges such as the implementation of IFRS-9, debt restructuring of a major state-owned entity, a challenging interest rate […]
ISLAMABAD, Pakistan – In a landmark move for economic analysis in Pakistan, HBL, in collaboration with S&P Global, has announced the launch of the HBL S&P Global Purchasing Managers’ Index (PMI®) series. This initiative is set to provide timely and valuable insights into the overall economic health of Pakistan’s manufacturing sector, marking a significant advancement […]
KARACHI: February 14, 2025 — The State Bank of Pakistan (SBP) has cleared the Fit & Proper Test (FPT) for Zia Ijaz to assume the role of President and Chief Executive Officer (CEO) of Askari Bank Limited (AKBL). The development was disclosed in a notice issued by AKBL to the Pakistan Stock Exchange (PSX) on […]
Karachi, February 13, 2025 – Meezan Bank Limited (MEBL) has announced its financial results for the calendar year 2024, reporting a record-breaking annual profit of Rs. 101.5 billion (Earnings Per Share: Rs. 56.5), reflecting a 20 percent year-on-year (YoY) increase. This milestone positions Meezan Bank as one of the most profitable banks in the sector, […]
Karachi, Pakistan – In a landmark move to expand financial access for smallholder farmers and microenterprises, HBL Microfinance Bank (HBL MfB) has signed an $80 million Risk Sharing Agreement with the International Finance Corporation (IFC), a member of the World Bank Group. This strategic partnership aims to empower small businesses, with a particular focus on […]
1LINK, Pakistan’s leading payment system, has officially onboarded Halan Microfinance Bank as a primary member on its network. The signing ceremony marked a significant step towards enhancing digital financial services and was attended by senior leadership from both organizations. Present at the occasion were Mr. Najeeb Agrawalla, CEO of 1LINK, and Mr. Christos Stefano, President […]