KARACHI: Prime Minister Imran Khan is a staunch believer in meritocracy. Giving an example he said, “Australia is the most successful team as their system is based on recognising talent. Pakistan has the best cricket talent, but does not come to the fore because there isn’t a system of merit”. An effort was also made … Read more
KARACHI: The State Bank of Pakistan (SBP) has imposed Rs523 million as monetary penalty on commercial banks for violating regulatory provisions during the first half of fiscal year 2021/22, a statement said. The Central Bank said that it had imposed Rs58 million as penalty on five banks for the quarter ended December 31, 2021. The … Read more
After teaching mathematics to A Levels students, Umaid Asif used to rush to the cricket academy to train and pursue his dream of becoming a professional cricketer. In 2006, the then 22-year-old had left his ACCA halfway through to focus on improving his game. He was teaching in schools and tuition centres to earn some … Read more
ISLAMABAD: President Arif Alvi while upholding a decision of the Banking Mohtasib advised the National Bank of Pakistan (NBP) to pay PKR 500,000 to a citizen who had been the victim of bank fraud at the hands of a former branch manager. The president ordered that the bank must return the lost money to the … Read more
KARACHI: Bank financing for housing and construction sharply increased 85 per cent, or Rs163 billion, to Rs355 billion in the financial year 2021, the State Bank of Pakistan (SBP) reported on Thursday. The total outstanding credit of banks for housing and construction stood at Rs192 billion in the preceding year. Within the housing and construction … Read more
KARACHI: The Federal Board of Revenue (FBR) on Tuesday directed the offices of the Inland Revenue (IR) to facilitate taxpayers in the payment of duty and taxes during the last two days of the year by extending working hours. On an office order, the revenue board directed the tax offices to remain open and observe … Read more
KARACHI: The bearer prize bonds of high denomination will expire by the end of the current month but unregistered securities worth billions of rupees are still in circulation. The government has decided to withdraw the bearer bonds with denominations of Rs7,500, Rs15,000, Rs25,000 and Rs40,000 and set a deadline of December 31, 2021 to exchange … Read more
LAHORE: The National Transmission and Dispatch Company (NTDC) has secured a Rs6.40 billion financing facility from the consortium of banks, Habib Bank Limited, National Bank of Pakistan and BankIslami Pakistan Limited, a statement issued by the company said on Tuesday. The financing facility will be utilised for the construction of 220/132kV substation and 35km-long allied … Read more
National Bank of Pakistan (NBP) hosted a Virtual Roundtable meeting to discuss the issues and challenges facing the Non-Bank Microfinance Institutions (NBMFIs) and their customers as a consequence of the economic slowdown due to COVID-19 pandemic. The Roundtable was attended by the CEOs of Pakistan’s largest NBMFIs including the National Rural Support Program, Kashf Foundation, … Read more
A Memorandum of Understanding (MoU) has been signed between National Highway Authority (NHA) and National Bank of Pakistan (NBP) for Olive Tree Plantation along the Highways in the country. According to the details while addressing the signing ceremony in Islamabad today, Minister of State for Climate Change Zartaj Gul said the government is taking concrete … Read more
A delegation comprising of 45 Chinese Officials headed by Mr. Sha Zukhang, Former Deputy Secretary-General of the United Nations, President of Pakistan Friendship Association of China and Chairman of the International Green Economy Association, visited National Bank of Pakistan, to sign a Strategic Cooperation Agreement, for provision of banking facilities by NBP to IGEA members. … Read more
