financial

The Financial Intelligence Agency dismantles an Indian hawala network in Lahore and arrests seven people – Trendy Blogger

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The Financial Intelligence Agency dismantles an Indian hawala network in Lahore and arrests seven people – Trendy Blogger

Federal Investigation Agency (FIA), Corporate Crime Branch, Lahore, conducted a major operation against illegal Indian hawala activities, leading to the arrest of seven individuals involved in unauthorized currency exchange operations. According to a spokesman for the Federal Investigation Agency, a case has been registered against a nine-member gang operating in the area. The individuals identified … Read more

The SBP Governor underscores commitment to expanding financial inclusion by strengthening global and local cooperation – Trendy Blogger

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The SBP Governor underscores commitment to expanding financial inclusion by strengthening global and local cooperation – Trendy Blogger

Karachi: State Bank of Pakistan Governor Jamil Ahmed on Monday reiterated the central bank’s commitment to increasing financial inclusion by enhancing collaboration with global and local stakeholders. The Governor of SBP, in his meeting with CEO of the Alliance for Financial Inclusion (AFI), Dr. Alfred Hannig, here, highlighted SBP’s recently launched third edition of the … Read more

The SBP sets a financial inclusion target of 75% under the National Strategy 2024-2028 – Trendy Blogger

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The SBP sets a financial inclusion target of 75% under the National Strategy 2024-2028 – Trendy Blogger

The State Bank of Pakistan (SBP) announced its National Financial Inclusion Strategy (NFIS) for 2024-2028, setting an ambitious target to increase financial inclusion from 64% in 2023 to 75% by 2028 and reduce the gender gap in financial inclusion from 64% to 75% by 2028. 34% in 2023 to 25% in 2028. The new strategy … Read more

Foreign Minister Aurangzeb leaves to attend the 18th Asian Financial Forum in Hong Kong – Trendy Blogger

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Foreign Minister Aurangzeb leaves to attend the 18th Asian Financial Forum in Hong Kong – Trendy Blogger

Federal Minister of Finance Senator Muhammad Aurangzeb left for Hong Kong on Saturday to participate in the 18th Asian Financial Forum. The visit aims to strengthen engagement with financial institutions and government officials across Asia, according to a press release issued by the Ministry of Finance. Aurangzeb is scheduled to deliver a speech at the … Read more

Pakistan’s domestic debt rose by 17.7% to Rs49 trillion due to financial pressures – Trendy Blogger

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Pakistan’s domestic debt rose by 17.7% to Rs49 trillion due to financial pressures – Trendy Blogger

Pakistan’s gross domestic debt and government liabilities rose by 17.71% to reach Rs49 trillion in November 2024, compared to Rs41.53 trillion in the same period last year, according to the latest data from the State Bank of Pakistan (SBP). On a monthly basis, domestic debt and liabilities rose by 2.85% from Rp47.53 trillion in October … Read more

The government is considering handing over the Central Cotton Commission to Aptma or NARC amid the financial crisis – Trendy Blogger

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The government is considering handing over the Central Cotton Commission to Aptma or NARC amid the financial crisis – Trendy Blogger

The government is evaluating two proposals for the future of the Pakistan Central Cotton Commission (PCCC), a major cotton research institution, which faces severe financial challenges. Options include transferring the PCCC to the All Pakistan Textile Mills Association (Aptma) or the National Agricultural Research Center (NARC). According to a news report, the Economic Coordination Committee … Read more

The Senate committee said the NFC award changed Pakistan’s financial situation amid high-interest loans – Trendy Blogger

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The Senate committee said the NFC award changed Pakistan’s financial situation amid high-interest loans – Trendy Blogger

Federal Finance Minister Imdadullah Bhosal informed the Senate Standing Committee on Finance on Wednesday that the current National Finance Commission award has significantly distorted Pakistan’s fiscal position, pushing the federal government to rely on high-interest loans, some at interest rates as steep as 8%. According to a news report, in a press conference chaired by … Read more

The Securities and Exchange Commission approves the 2024-2026 strategic action plan to develop Islamic finance in the non-banking financial sector – Trendy Blogger

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The Securities and Exchange Commission approves the 2024-2026 strategic action plan to develop Islamic finance in the non-banking financial sector – Trendy Blogger

IslamabadThe Securities and Exchange Commission of Pakistan (SECP) has approved its strategic action plan for 2024-26, which aims to promote the growth and development of Islamic finance in the non-banking financial sector. According to details, the plan has been formulated by the Supreme Committee of the Securities and Exchange Commission of Pakistan, headed by Mr. … Read more

Report: Pakistani banks lag behind in financial literacy and engagement mechanisms – Trendy Blogger

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Report: Pakistani banks lag behind in financial literacy and engagement mechanisms – Trendy Blogger

Asian banks, including those in Pakistan, must balance financial inclusion goals, consumer empowerment and financial literacy initiatives, according to the latest scorecard issued by Fair Finance Asia (FFA). Titled scorecard Empowering consumers as drivers of sustainability in the financial sector in Asiameasures the policies of 15 banks across Pakistan, Cambodia, Indonesia, the Philippines, and Thailand … Read more

IMF head Georgieva warns of financial risks, urges caution about interest rate cuts – Trendy Blogger

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IMF head Georgieva warns of financial risks, urges caution about interest rate cuts – Trendy Blogger

In her recent remarks, Kristalina Georgieva, Managing Director of the International Monetary Fund, stressed the urgent need for governments around the world to rebuild their fiscal capacity in light of fiscal pressures and increasing economic uncertainty. Speaking at the annual meetings of the International Monetary Fund and World Bank in Washington, D.C., Georgieva noted that … Read more