Banking & Finance
Friday, 05 April 2013 01:59
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LAHORE: The Lahore High Court Thursday stopped Deputy Governor, State Bank of Pakistan (SBP), Ashraf Wathra from working beyond April 5.
Justice Syed Mansoor Ali Shah passed the orders on a petition filed by Munir Ahmad Advocate seeking directions for fair elections and implementation of Article 62 and 63.
As proceedings started, petitioner's counsel Muhammad Azhar Siddique submitted that the former federal and provincial governments made many appointments despite ban by the Election Commission of Pakistan (ECP).
The court observed that these steps were equivalent to pre-poll rigging and asked SBP's counsel to explain how the appointment of deputy governor was made despite ECP's ban.
However, SBP's counsel submitted that the appointment was made by the government. The court could seek parawise comments on the matter, he added.
The court asked the SBP's counsel to file parawise comments besides observing that it would pass orders to stop the deputy governor from work till tomorrow.
But, the ...
ISLAMABAD: Meezan Bank will facilitate Qarz-e-Hasna facility to needy students of Shaheed Zulfikar Ali Bhutto Institute of Science & Technology (SZABIST) so that they can complete their education at 0 percent interest rate.Ihsan Trust will provide 40 percent of tuition and other fee as Qarz- e-Hasna, while SZABIST will give upto 40 percent scholarship through SZABIST Scholarship Fund. The selected student will contribute the rest.This was disclosed during the signing of Memorandum of Understanding (MoU) ...
ISLAMABAD: The National Bank of Pakistan (NBP) has disbursed Rs 45,789.5 million as agriculture credit among nearly 241,296 farmers during 2012 against a target of Rs 43,200 million", a statement of the Bank issued here said. According to the statement of the Bank, out of total 1,294 domestic online branches, 875 are involved in catering the needs of farmers, while offering complete range of commercial banking services to farmers. The NBP said that the loans ...
ISLAMABAD: Minister of State and Chairman Board of investment, Republic of South Sudan, John Joseph Kulang here on Wednesday visited Zarai Taraqiati Bank limited (ZTBL) to explore venues and possible opportunities to get the expertise and consultancy in the area of agricultural technologies from the bank.A statement issued by ZTBL said that Advisor on Business Development, Afzal Sharif briefed the delegation about expertise available with the bank and technical assistance which could be made available ...
ISLAMABAD: National Bank of Pakistan (NBP) is the pioneer in the country in developing a wide range of consumer products, to enhance businesses and cater to different segments of society."Some schemes are specifically designed for all the income segments of population which include NBP Advance Salary, NBP Saiban, NBP Kissan Dost, NBP Cash n Gold", said a NBP statement issued on Tuesday.The NBP has implemented special credit schemes like small finance for agriculture, business and ...
ISLAMABAD: Account holders in federal capital are facing a lot of difficulties due to non-functional ATM machines as inspite of providing facilities to the customers.Mostly Automated Teller Machine (ATM) installed in every bank of the federal capital are still adding miseries for the citizens from these machine shows the negligence of the bank authorities."I went to bank in Abpara Market for getting cash but ATM was not working because of hardware error. Later, I went ...
KARACHI: The total liquid foreign reserves held by the country stood at $ 12,436.1 million on March 15, 2013, said a statement of the State Bank of Pakistan on Thursday. It said the foreign reserves held by the Central Bank are $ 7450.5 million. Net foreign reserves held by banks (other than SBP): $ 4,985.6 million while total liquid foreign reserves held by the SBP are : $ 12436.1 million, the statement said. ...
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