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

HBL New York

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 was sent by New York State Department of Financial Services (DFS) to HBL New York about the monetary penalty imposed of $629,625,000. HBL has More...

by Faiza Malik | Published 5 months ago
Digital Disbursement Solutions
By Faiza Malik On Thursday, August 3rd, 2017
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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...

Bank Alfalah CEO
By Faiza Malik On Thursday, June 29th, 2017
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Nauman Ansari Appointed as Bank Alfalah CEO

An announcement from the board of directors of Bank Alfalah declared the resignation of Atif Bajwa as the president and CEO of the bank and confirmed appointment of Nauman Ansari, former CEO of Faysal Bank as president More...

Banking Services in Pakistan
By Faiza Malik On Thursday, June 22nd, 2017
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World Bank Approves $223 million for Banking Services in Pakistan

In order to improve banking services in Pakistan and also improve living conditions of few parts in Karachi, the World Bank has approved two loans with a total of $223 million for Pakistan. Regardless of the reservations More...

First branch of Bank of China in Pakistan
By Faiza Malik On Monday, May 15th, 2017
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First branch of Bank of China in Pakistan

First branch of Bank of China in Pakistan will be opening soon as it has received its banking license from the State Bank of Pakistan (SBP). Finance Minister Ishaq Dar met with Bank of China Chairman Tian Guo Li More...

MCB first flagship digital branch
By Faiza Malik On Monday, May 8th, 2017
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MCB launched MCB First Flagship Digital Branch in Lahore

MCB Bank has entered the digital world and launched MCB first flagship digital branch featuring its first State-of-the-Art Digital Lounge at Packages Mall in Lahore. Standard Chartered Bank and United Bank Limited More...

PayPak
By Zonaira Chaudry On Tuesday, April 4th, 2017
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Meezan Bank Launches PayPak

Local banks are continuously working for local payment platform, PayPak, as Meezan Bank being Pakistan’s first and largest Islamic bank, has joined hands with 1LINK (Guarantee) Limited to issue Meezan Bank debit More...

Saudi Arabias first female
By Zonaira Chaudry On Wednesday, February 22nd, 2017
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Saudi Arabias first female commercial bank CEO

Rania Nashar was named Saudi Arabias first female commercial bank CEO of Samba Financial Group, becoming the first female CEO of a listed Saudi commercial bank in line with the government’s economic and social More...

Bahria Town to acquire investment bank
By Zonaira Chaudry On Monday, February 13th, 2017
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Bahria Town to acquire investment bank

Bahria Town to acquire investment bank, it recently declared that a majority shareholding in Escorts Investment Bank, a non-banking finance company will be acquired by Bahria Town. Bahria Town, the real state company More...

New Chairman of Bank Alfalah
By Zonaira Chaudry On Saturday, January 21st, 2017
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New Chairman of Bank Alfalah is Sheikh Nahyan

The founder of Bank Alfalah Limited has taken over the bank control as new chairman of Bank Alfalah. Sheikh Nahyan Bin Mubarak Al Nahyan has replaced his brother Sheikh Hamdan Bin Mubarak Al Nahyan. With Pakistan More...