Alkhair Bank acquired as Burj Bank sales after approval

burj bank sales

The Burj Bank is a subsidiary of Bahrain’s Al Baraka Banking Group that has recently got Burj Bank sales. The sale is in the form of another bank that has received approval for selling from the SBP. The approval The State Bank of Pakistan has approved the Bahrain-based Bank Alkhair for selling its stake to Burj Bank on Wednesday. Al Baraka is among More...

by Sataish Umair | Published 8 months ago
mcb and nib
By Sataish Umair On Friday, December 9th, 2016

MCB and NIB Bank decide to operate as a single entity

MCB and NIB banks have announced their merger this Wednesday to operate as a single entity. Majority of shareholders of NIB have agreed to have one share of MCB in exchange for 140 of their shares. However, the More...

bank account opening
By Sataish Umair On Thursday, November 24th, 2016

NTN is NOT mandatory in bank account opening now

The Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulations have been amended by the SBP today. The State Bank of Pakistan has now directed banks not to refuse banking services due More...

weakest currencies
By Sataish Umair On Thursday, November 17th, 2016

The list for the weakest currencies of the world is here

There is no doubt that when it comes to strong currencies then the Pound, Euro, and Dollar comes to one’s mind straight away. However, if someone asks you of the weakest currencies then you have no sure shot More...

pakistan banking sector
By Sataish Umair On Tuesday, November 1st, 2016

Pakistan Banking sector grows more than before

The Pakistan banking sector might be experiencing a bit of pressure on its profits because of decreasing interest rates in 2016. However, it has grown by 16.1% during the year as the outlook came stable with increased More...

chairman bank al habib
By Sataish Umair On Tuesday, October 25th, 2016

Mr Abbas D Habib is the new Chairman Bank Al Habib

The CEO of Bank Al Habib, senior banker, Abbas D Habib is now the Chairman Bank Al Habib. The State Bank of Pakistan (SBP) has approved the appointment when the chairman submitted it to the Board of Directors previously. He More...

branchless banking in pakistan
By Sataish Umair On Wednesday, October 19th, 2016

Branchless banking in Pakistan makes huge leaps

When it comes to digital inclusion development in the financial areas, Pakistan has surely made progress. Also the knowledge economy as total volume has increased. There are good huge leaps in these areas as branchless More...

meezan and pcic
By Sataish Umair On Thursday, October 13th, 2016

Meezan and PCIC to offer more cooperation between Pakistan and China

Bilateral trade and investment between Pakistan and China shall surely reach more understanding now. Meezan Bank and Pakistan China Investment Company (Meezan and PCIC) have entered into a strategic cooperation More...

euromoneys central bank governor
By Sataish Umair On Thursday, October 13th, 2016

Ashraf Wathra is the first Pakistani to become Euromoney’s Central Bank Governor

The governor of State Bank of Pakistan, Ashraf Wathra, was named Euromoney’s Central Bank Governor of the year for 2016. The reception took place at the National Press Club in Washington DC at the annual IMF/World More...

iranian bank in pakistan
By Sataish Umair On Thursday, October 6th, 2016

Karachi to witness the first Iranian bank in Pakistan soon

The first Iranian Bank in Pakistan is soon to be opened as a first branch in Karachi. The State Bank of Pakistan (SBP) and Central Bank of Iran have also finalized the modalities for the same. This was confirmed More...