06302016Thu
Last update: Thu, 30 Jun 2016 08pm

Banking & Finance

Pakistan - Banking & Finance

SBP issues Framework for Branchless Banking KARACHI: State Bank of Pakistan (SBP) has issued the Framework for Branchless Banking Agent Acquisition and Management for the banks and microfinance banks.This Framework is complementary to Branchless Banking (BB) Regulations already in place, a statement of SBP said here on Tuesday.According to this Framework, the Board of Directors of banks would be responsible for providing the strategic direction and an oversight of branchless banking agent acquisition and management while senior management will institute necessary internal controls and ensure adherence to applicable laws and regulations. Banks have been advised to develop and enforce overall Central Agent Management Policy, covering minimum agent selection criteria, agent due diligence, business experience, financial position, integrity, personal qualities, reputation, credit profile etc.BB Regulations allow banks to deploy agent-based banking by involving non-banking channels for distribution of basic banking services. The neighborhood agents - owners of small businesses, retail stores, franchises etc. can carry out basic ...

Pakistan - Banking & Finance

SBP issues framework for branchless banking agent acquisition and management ISLAMABAD: The State Bank of Pakistan (SBP) has issued the Framework for Branchless Banking Agent Acquisition and Management for the banks and microfinance banks."This Framework is complementary to Branchless Banking (BB) Regulations already in place", said a statement issued by the Central Bank here on Tuesday.According to this Framework, the Board of Directors of banks would be responsible for providing the strategic direction and an oversight of branchless banking agent acquisition and management while senior ...

Pakistan - Banking & Finance

NHA earned Rs15,971mn from toll plazas in FY 2014-15 ISLAMABAD: National Highway Authority (NHA) has collected Rs 15,971 million as toll re3vnue from 102 toll plazas set up on national highways and motorway during fiscal year 2014-15.An official of NHA told APP Monday that in 2012-13 Rs 13,536 million were collected as toll tax money while in FY 2013-14 13,990 million were collected.He said that there has been a steady increase in toll revenue over the last three years and the major reason for ...

Pakistan - Banking & Finance

HBL to open first Pakistani bank branch in China by year end ISLAMABAD: Habib Bank Limited (HBL) would open its first branch in Uramqi (China), the largest city of province Xinjiang to facilitate business community and further give impetus to China-Pakistan Economic Corridor (CPEC) projects.Addressing a joint press conference along with HBL Chairman Sultan Ali Allana here on Monday, Minister for Commerce Engineer Khurram Dastgir Khan said that this would be the first Pakistan bank which would open its first branch in Chinese city of Uramqi before ...

Pakistan - Banking & Finance

NBP sets up 110 branches of Islamic banking in one and half year PESHAWAR: National Bank of Pakistan (NBP) is working on promotion of Sharia based banking and with a period of one and a half year has set up about 110 branches of Islamic banking in the country. This was said by Saima Rahim, Regional Head Islamic Banking NBP while speaking to newsmen at an Iftar Dinner hosted by NBP on Saturday. Provincial Minister for Excise and Taxation, Mian Jamshed Kakakhel was chief guest and President NBP, ...

Pakistan - Banking & Finance

Entity ratings of Zarai Taraqiati Bank reaffirmed KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Zarai Taraqiati Bank Limited (ZTBL) at `AAA/A-1+' (Triple A/A-One Plus).JCR-VIS has also reaffirmed ratings of `AAA/A-1+'(Triple A/A-One Plus) assigned to governemnt Guaranteed Obligations of ZTBL. Outlook on the ratings is `Stable'. The previous rating action was announced on June 19,2015, a statement of JCR-VIS said here on Thursday.The ratings assigned to ZTBL take into account the implicit support of Governemnt of Pakistan (GoP) ...

Pakistan - Banking & Finance

Pak Post collected Rs187,083.68mn through saving bank in 2014-15 ISLAMABAD: Pakistan Post has collected Rs. 187.083.68 million through its different schemes offered for general public under Saving Bank.The department has collected Rs. 157.699.11 million through saving accounts services while Rs. 29.384.505 million under saving certificates, official sources told APP.They said Pak Post is offering services of Saving Bank Ordinary Accounts, Special Savings Accounts, Defence Savings Certificates, Special Saving Certificates and Regular Income Certificates.They informed that Rs. 8,647.899 million were collected under Saving Bank Ordinary ...