Electronic Money Institutions (EMIs) opened approximately 47,000 freelancer e-wallet accounts and onboarded 4,956 micro-retail merchants since the beginning of their… Read More
Foreign Direct Investment Up by 16% in First 2 Months of FY24
The Foreign Direct Investment (FDI) in the country rose by 16 percent during the first two months of this fiscal… Read More
SBP To Award 5 In Principle Approvals For Digital Banks in September
State Bank of Pakistan (SBP) is likely to award the in-principle approvals in the next few weeks to newly constituted… Read More
Careem Withdraws EMI License From SBP
Careem Payment Solutions has withdrawn its license of Electronic Money Institution (EMI) from the State Bank of Pakistan (SBP), according… Read More
Pakistan To Host Global CIO Awards For The First Time
Pakistan will host the Global CIO Awards and World CIO Summit for the first time to recognize the most successful… Read More
Construction Company RMS Ltd. Wants to Acquire Escorts Bank
Escorts Investment Bank attracted another buyer, RMS Pvt Limited which showed its interest in acquiring an 87.9% stake of the… Read More
Govt Raises Highest Ever Capital of Rs. 371 Billion Against Ijarah Sukuk in a Single Month
The government raised a total of Rs. 371 billion (over $1.29 billion) through GOP Ijarah Sukuk against Islamabad Expressway. This… Read More
Software Business Contributes Over 50% to IT Exports in FY23
Pakistan’s IT companies remained active in the software business, having a share of 52 percent in IT exports in the… Read More
Profit Repatriation by Foreign Investors Nosedives by 80% in FY23
Foreign investors and multinational companies faced a tough year in Pakistan once again with their repatriation of profits decreasing sharply… Read More
Pakistan’s Weapon Exports Up Over 30x in FY23
Pakistan’s export of arms and ammunition have made a great stride with a staggering 30 times higher growth than the… Read More
BankIslami Appoints Rizwan Ata As President and CEO
The board of directors has given a promotion to a senior member of the bank’s team by appointing Rizwan Ata… Read More
Export Receipts from Major Countries Decline in FY23
Pakistan’s export receipts to major countries, including US, China, and UK dropped during the financial year 2023 (FY23) which affected… Read More
