Rogers Telecommunications is the top provider in Ontario with a 90% market share. Outage hits banking, transport, and government access for millions. Canadian financial institutions and banks including Toronto-Dominion Bank also affected. Rogers has not identified the cause of the outage. Rogers Telecommunications is the top provider in Ontario with a 90% market share. A … Read more
The government has announced massive reforms in multiple public sectors including customs, banking, overseas Pakistanis, IT, health, and social welfare to facilitate people by ensuring smooth service delivery. Addressing a news conference, Head of Prime Minister’s Strategic Reforms Salman Sufi said the Federal Board of Revenue (FBR) has notified new rules for personal baggage limit … Read more
The Middle East has become one of the world’s fastest-growing crypto marketplaces. According to a recent survey, 33% of UAE residents have invested in cryptocurrency. Open Banking will provide crypto investors with a unified experience. Following the announcements from the regulatory bodies that oversee virtual assets and cryptocurrencies in Dubai and Abu Dhabi, crypto players … Read more
KARACHI: Transactions made through mobile phone banking recorded a surge of 138 per cent to Rs2.16 trillion during the first quarter (July-September) of the current fiscal year, according to the payment system review issued by the State Bank of Pakistan. The transactions worth Rs908 billion were made during the same quarter of the last fiscal … Read more
KARACHI: The Union of Small and Medium Enterprises (Unisame) has advised the Small and Medium Enterprises (SME) sector to use the banking channel for all inwards and outwards overseas remittances, a statement said. The Unisame urges the SMEs not to indulge in transactions outside the banking channels despite getting better rates from money exchangers. Unisame … Read more
KARACHI: The banking deposits surged 17 per cent to Rs20.51 trillion by the quarter ended September 30, 2021, compared with Rs17.54 trillion in the same quarter of the last year, according to a report released by the State Bank of Pakistan (SBP) on Tuesday. Similarly, the total assets of the banking system climbed up 21 … Read more
KARACHI: The State Bank of Pakistan (SBP) has introduced a licensing and regulatory framework for digital banks in line with international best practice, a statement said on Monday. This is the first step towards introducing a completely digital bank that will provide all the banking services; from account opening to deposit and lending, through digital … Read more
KARACHI: The State Bank of Pakistan (SBP) has issued revised “Corporate Governance Regulatory Framework” with the objective to further strengthen the corporate governance regime of banks and the DFIs and to align the same with international standards and best practices. The framework, which has been developed in consultation with the key stakeholders, covers Fit and … Read more
KARACHI: The State Bank of Pakistan (SBP) on Wednesday said it has enabled resident Pakistanis to open bank accounts through digital channels, a statement said. With the rapid growth in the adoption of electronic banking channels, especially amid the Covid-19 pandemic, the demand from the bank and customers for digital financial transactions have increased manifold, … Read more
KARACHI: The profit of banking profitability for the half-year ended June 30, 2021 registered a growth of 13 per cent, according to the analysis of Arif Habib Limited. The jump in the half-year earnings of banks listed on the Pakistan Stock Exchange (PSX) was primarily led by significant decline in provisioning expense. On a sequential … Read more
KARACHI: The Banking Mohtasib Pakistan has provided monetary relief amounting to Rs305.50 million to the customers by disposing of 14,910 complaints during the first half (January to June) of the current calendar year, 2021, a statement said on Tuesday.. Around 99 per cent (14,755) complaints were resolved amicably, while only 1 per cent (155) complaints … Read more
ISLAMABAD: President Dr Arif Alvi on Friday rejected the representation of the MCB Bank Limited, assailing the order of the Banking Mohtasib to credit the lost money to its accountholder, who had fallen victim to the Internet banking fraud. The president said the bank’s argument on declaring the unauthorised funds transfer as the customer’s liability … Read more
