transactions

Increase digital payments in Pakistan: 88 % of retail transactions have been digitally processed – Trendy Blogger

by
Increase digital payments in Pakistan: 88 % of retail transactions have been digitally processed – Trendy Blogger

IslamabadPakistan digital payment channels have processed 88 % of all of all retail transactions by size, as mobile banking applications play a pivotal role. According to the State Bank in Pakistan (SBP), these platforms, including mobile banking applications, the banking services portfolios (BB), and electronic money portfolios, were combined 1.45 billion transactions, with a rupee … Read more

Retamentation payments rise to 154 trillion rupee, as digital transactions in Q2 FY25 are dominated – Trendy Blogger

by
Retamentation payments rise to 154 trillion rupee, as digital transactions in Q2 FY25 are dominated – Trendy Blogger

The State Bank in Pakistan (SBP) has released Sponger payment systems review For Q2 FY25, it reveals a significant rise in retail selling payments. Transactions grew by 11 % in size and 12 % in value, up to 154 trillion rupee, driven by increasing the adoption of digital payment channels. Digital payments constituted 88 % … Read more

FBR to monitor banking transactions that exceed the advertised income to ensure tax compliance – Trendy Blogger

by
FBR to monitor banking transactions that exceed the advertised income to ensure tax compliance – Trendy Blogger

Islamabad: The federal government decided to intensify the audit of individuals who participate in financial transactions that exceed their declared income, with the Federal Revenue Council leadership (FBR) initiative. FBR Malik Amjed Zubair Tiwana President of the Permanent Committee of the National Finance Association, headed by Syriaed Qamar, told banks that the banks will help … Read more

US regulators warn banks against direct transactions in cryptocurrencies, not a complete banking ban – Trendy Blogger

by
US regulators warn banks against direct transactions in cryptocurrencies, not a complete banking ban – Trendy Blogger

The US banking regulator instructed banks in 2022 and 2023 to stop directly participating in cryptocurrencies, but did not order them to stop providing banking services to cryptocurrency companies, according to documents released on Friday. The Federal Deposit Insurance Corporation (FDIC) unveiled supervisory “pause letters” following a lawsuit filed by History Associates Incorporated, a research … Read more

A fake company evades Rs 14 billion in taxes through fake transactions – Trendy Blogger

by
A fake company evades Rs 14 billion in taxes through fake transactions – Trendy Blogger

A policeman walks in front of the Federal Board of Revenue (FBR) office building in Islamabad, on August 29, 2018. — Reuters FTO finds blatant case of organized tax fraud Fake transactions worth Rs 84 billion were made. Taxes worth Rs 14 billion were evaded in just a few months. ISLAMABAD: A glaring example of … Read more