Norway’s Wealth Fund Dumps Caterpillar, Israeli Banks Over Rights Concerns OSLO – Norway’s $1.6 trillion sovereign wealth fund has pulled its investments from U.S. machinery giant Caterpillar and five Israeli banks, citing what it called an “unacceptable risk” of involvement in human rights violations linked to the war in Gaza and Israeli settlement activity. The […]
Banks Extend Hours to Receive Hajj 2026 Applications KARACHI — The State Bank of Pakistan has announced extended working hours for designated bank branches to facilitate Hajj 2026 applicants. From now until August 16, these branches will remain open from 9:00 am to 2:30 pm to receive application forms. The move follows a request from […]
SBP Tells Banks to Open New Accounts in 2 Days and Boost Digital Payments KARACHI – The State Bank of Pakistan (SBP) has asked all banks and financial institutions to open new customer accounts within two working days. This new rule will make it faster and easier for people to get access to banking services. […]
The ministry has outlined that registrations can be completed through 15 designated banks, with online registration also available from home. Details regarding Hajj 2026 expenses and other terms and conditions will be issued in line with official policy. The ministry’s spokesperson noted that registered individuals can opt for either the government or private Hajj scheme. […]
According to the report, the inflows include $14.1 billion comprising funding from the International Monetary Fund (IMF) and the rollover of deposits by friendly countries such as Saudi Arabia, the United Arab Emirates, and China. The documents reveal that Pakistan secured over $6 billion in external funds during the ten months, including $5.92 billion in […]
This was revealed in a meeting of the Senate Standing Committee on Industries headed by Senator Saifullah Abro. The meeting was also attended by officials of the State Bank of Pakistan (SBP). During the meeting, a major revelation was made by JUI-F Senator Kamran Murtaza. Murtaza claimed commercial banks in Pakistan earned Rs65 billion by […]
HBL today declared a consolidated profit before tax of Rs 30.1 billion for the quarter ended March 31, 2024, 40% higher than in the same period last year. Profit after tax has increased from Rs 13.3 billion in the first quarter of 2023 to Rs 15.0 billion. EPS for Q1’24 was Rs 10.37, compared to […]
The Bank of Khyber (BOK) is in search of a highly skilled and goal-oriented professional to join as Managing Director/Chief Executive Officer (CEO), overseeing the overall direction and administration of the Bank in alignment with the directives of the Board of Directors. The position aims to ensure the Bank’s success and optimize all aspects of […]
The government borrowings from the banking sector increased to Rs. 1.821 trillion in over nine months of the current fiscal year, as shown by data released by the State Bank of Pakistan (SBP). This is 1.78 percent higher than the recorded borrowed amount in July to April of FY 2020, Rs. 1.789 trillion, the SBP […]
The price of bitcoin crossed another major milestone Friday, as the cryptocurrency’s market value surpassed $1 trillion, according to Coindesk. The digital currency was trading at just under $54,000 per coin Friday as it hit the new level, and rose above $55,000 later in the session for a daily gain of more than 6%, according […]
