Bank

World Bank intends to approve a $240 million water and sanitation project in Karachi: report – Trendy Blogger

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World Bank intends to approve a 0 million water and sanitation project in Karachi: report – Trendy Blogger

The World Bank Board of Executive Directors is preparing to approve the second Karachi Water and Sanitation Services Improvement Project (KWSSIP-2) on Thursday. According to a $240 million report by Business Recorder, the project aims to provide safe water and sanitation services in Karachi while improving the financial and operational performance of the Karachi Water … Read more

The People’s Bank of China proposes to cut interest rates by 200 basis points as inflation declines – Trendy Blogger

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The People’s Bank of China proposes to cut interest rates by 200 basis points as inflation declines – Trendy Blogger

KARACHI – The Pakistan Business Council said an interest rate cut of about 200 basis points on December 16 is possible, with further cuts expected in early 2025 if inflation remains under control. “This cut will bring the interest rate closer to the prevailing three-month interbank offered rate (KIBOR), which is currently around 12.5 percent,” … Read more

The Prime Minister forms a high-level committee to review the tax on bank profits – Trendy Blogger

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The Prime Minister forms a high-level committee to review the tax on bank profits – Trendy Blogger

The government has established a high-level committee to review fiscal measures related to the ratio of advances to deposits in the banking sector and explore alternative plans to impose a tax on banks’ profits earned from investing in government securities. Prime Minister Shehbaz Sharif formed the committee, headed by Deputy Prime Minister Ishaq Dar, tasked … Read more

State Bank of Pakistan Governor calls on banks to embrace technology and enhance support for agriculture and small and medium enterprises – Trendy Blogger

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State Bank of Pakistan Governor calls on banks to embrace technology and enhance support for agriculture and small and medium enterprises – Trendy Blogger

Islamabad: State Bank of Pakistan (SBP) Governor Jamil Ahmed called on the country’s financial institutions to embrace innovation and inclusivity to transform Pakistan’s banking sector. Speaking at the 9th Pakistan Banking Awards 2024 in Karachi, Ahmed highlighted the need for financial institutions to focus on improving access to financial services, especially for the agriculture and … Read more

National Bank of Pakistan’s Diamond Jubilee Celebrations 75 years of unwavering excellence – Trendy Blogger

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National Bank of Pakistan’s Diamond Jubilee Celebrations 75 years of unwavering excellence – Trendy Blogger

KARACHI: Celebrations filled with unwavering dedication and lavish prestige marked the 75th anniversary of the National Bank of Pakistan (NBP). The event was held at the historic Mohatta Palace in Karachi, and was attended by dignitaries from the government, business community and clients from across the country. Mr. Rehmat Ali Hasni, Chairman, National Bank of … Read more

Bank of Sharjah Pakistan is reviewing the Sharia governance framework for Islamic banking institutions – Trendy Blogger

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Bank of Sharjah Pakistan is reviewing the Sharia governance framework for Islamic banking institutions – Trendy Blogger

The State Bank of Pakistan (SBP) has revised the Sharia Governance Framework (SGF) to advance the Islamic banking industry and enhance its compliance with Sharia principles. In a circular issued on Friday, the State Bank of Pakistan directed Islamic banking institutions to prepare to implement the updated framework by January 1, 2025. “To further strengthen … Read more

Iranian transport companies are required to provide bank guarantees for transshipment from Taftan to NLC dry port in Quetta – Trendy Blogger

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Iranian transport companies are required to provide bank guarantees for transshipment from Taftan to NLC dry port in Quetta – Trendy Blogger

Iranian transport operators are now required to provide bank guarantees to Pakistani customs authorities for goods shipped via Iranian transport companies from Taftan border to NLC dry port in Quetta. The Federal Board of Revenue (FBR) introduced this change through the amendment to the Customs Rules 2001 through SRO.1913(I)/2024. Under the updated rules, Iranian transport … Read more

SBP Bank unveils Rs 55 coin on Guru Nanak’s 555th ‘Jayanti’ – Trendy Blogger

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SBP Bank unveils Rs 55 coin on Guru Nanak’s 555th ‘Jayanti’ – Trendy Blogger

The State Bank of Pakistan on Friday issued a commemorative coin on the occasion of the 555th Jayanti (birth anniversary) of Guru Nanak Dev Ji, the founder of the Sikh religion. Nanak’s birth anniversary was held at Gurdwara Janamashtham Nankana Sahib last week, where Sikh yatris from all over the world, including India, performed religious … Read more

Pakistan receives a $500 million loan from the Asian Development Bank for climate resilience projects – Trendy Blogger

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Pakistan receives a 0 million loan from the Asian Development Bank for climate resilience projects – Trendy Blogger

ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Tuesday signed a $500 million loan agreement for the Climate and Disaster Resilience Enhancement Program (CDREP) to strengthen the country’s resilience in the face of disasters caused by natural hazards and the impacts of environmental crises. The program aims to strengthen Pakistan’s institutional capacity for planning, … Read more

Pakistan needs $390 billion investment to transition to low-carbon energy by 2050: Asian Development Bank – Trendy Blogger

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Pakistan needs 0 billion investment to transition to low-carbon energy by 2050: Asian Development Bank – Trendy Blogger

Pakistan will need more than $390 billion in additional investments by 2050 to transition toward low-carbon energy solutions, including switching from coal to gas in industries, electrifying transportation, and replacing gas with electricity for cooking, according to a recent report by the Organization of Islamic Cooperation. . Asian Development Bank (ADB). The report, titled “Pakistan’s … Read more