Bank of China Starts Operations in Pakistan

Bank of China

Bank of China initiates operations in Pakistan, with its first branch becoming operational in Karachi. It is the first branch of the bank in South Asia. Bank of China’s Chairman Chen Siqing said, it is a great honer for the bank to have launched themselves in South Asia, with Pakistan Furthermore, he stated that this move will strengthen the brotherly More...

by Junaid Ashraf | Published 1 month ago
Merger of Sindh Bank and Summit Bank
By Junaid Ashraf On Friday, November 3rd, 2017

A Significant Merger of Sindh Bank and Summit Bank

The merger of Sindh Bank and Summit Bank has been finalized. It is expected that Summit Bank will shut down the operations by December 29. However, it depends on the approval of State Bank of Pakistan. The merger More...

Top Management of HBL
By Junaid Ashraf On Wednesday, October 25th, 2017

Restructuring in Top Management of HBL

Top management of HBL is expected to be reorganized as Nauman K Dar, the President and CEO of Habib Bank Limited (HBL) is set to retire on December 31, 2017. The notice sent to the Pakistan Stock Exchange (PSX) More...

HBL losses
By Junaid Ashraf On Tuesday, October 24th, 2017

HBL Losses Shoot Up

Habib Bank Limited (HBL) has incurred great sums of losses in the third quarter of 2017. HBL losses surged up to Rs. 14.12 billion. The main cause of HBL losses was a penalty of $225 million and its settlement payment More...

Dubai Islamic Bank
By Junaid Ashraf On Tuesday, October 17th, 2017

Dubai Islamic Bank Pakistan: A Giant Step Towards Digitization

The demands of the banking are changing with the ever evolving technology. This has led  Dubai Islamic Bank to adapt IRIS Omni Channel Payment Platform and Prepaid Cards Management Solution by TPS. This step is More...

Bank of China Operations in Pakistan
By Faiza Malik On Wednesday, September 20th, 2017

Bank of China Operations in Pakistan to Begin

The Bank of China operations in Pakistan has been allowed by the State Bank. This is the second Chinese bank being allowed to operate in Pakistan. Earlier in May 2011, the Industrial and Commercial Bank of China More...

Islamic banks of Pakistan
By Faiza Malik On Sunday, September 17th, 2017

Deposits of Islamic Banks of Pakistan Grow by 10%

Islamic banks of Pakistan have left behind their conventional banking counterparts by mobilising deposits at a higher pace in April-June. The State Bank of Pakistan (SBP) issued in the Islamic Banking Bulletin for More...

HBL losses
By Faiza Malik On Saturday, September 9th, 2017

HBL New York Branch to Shut

HBL New York branch to shut has now made an out of court settlement with the Department of Financial Services (DFS) of New York State by agreeing to pay a fine of $225 million against numerous violations of the More...

HBL New York
By Faiza Malik On Wednesday, August 30th, 2017

HBL New York branch shuts down due to penalty of $630 million

The Habib Bank Limited has announced to close its operations, the HBL New York branch has decided to shut down due to huge penalty of nearly $630 million on the bank from state’s financial regulator. A notice More...

Digital Disbursement Solutions
By Faiza Malik On Thursday, August 3rd, 2017

FINCA Gears Up for Digital Disbursement Solutions

FINCA Microfinance Bank is all set to bring digital disbursement solutions in rural and semi-rural areas in an effort to improve digital literacy and cost of delivery. The loan processing time would be reduced to More...