09272016Tue
Last update: Tue, 27 Sep 2016 06pm

Banking & Finance

Pakistan - Banking & Finance

SCO steps into 'Branchless Banking' to facilitate remote areas people ISLAMABAD: Special Communications Organization (SCO) has partnered with Bank Alfalah to make its entry into Branchless Banking (BB) system.The product in name of S-Paisa would soon be launched for people of Azad Jammu & Kashmir (AJK) and Gilgit-Baltistan (GB).With launch of S-Paisa, people across AJK and GB would be able to send and receive money, pay utility bills and do mobile top ups.The initiative aims to serve six million people of the region and is expected to have positive socio-economic effects on populace. Both SCO and Bank Alfalah have inked an agreement in this regard.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Faysal Bank expands its network with 300 branches across country KARACHI: Faysal Bank has announced the completion of its 300 branches across the country with a wide network of 89 Islamic and 211 Conventional Banking branches spread across 91 cities.CEO and President, Faysal Bank Nauman Ansari in a statement issued here on Wednesday said that with 300 branches, Faysal Bank is a key player in Pakistan's retail and consumer banking segments and offers its customers with a wide range of financial products and services."Moving ahead, ...

Pakistan - Banking & Finance

EOBI beneficiaries suffer due to meager pension ISLAMABAD: The low pensionary amount of Rs 5250 only per month has multiplied the suffering of the beneficiaries of Employees Old Age Benefit Institution (EOBI) especially industrial and mine workers who are finding difficult to meet both ends of life.The pensioners registered with EOBI have demanded of the government to increase their pension from Rs 5250 upto at least Rs 15000, considering the prevailing price hike situation in the country.According to the official source, around ...

Pakistan - Banking & Finance

Balloting of Rs40,000 prize bond to be held on Thursday FAISALABAD: The 67th balloting of prize bonds of Rs40,000 each will be held in Multan on Thursday (September 1).According to a spokesman of National Savings Faisalabad, first position holder will be awarded a cash prize of Rs 75 million while three prizes of Rs25mn each have been reserved for second position holders. Third prize of Rs0.5mn will be awarded to each of 1,696 position holders, he added.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

CDNS reduces interest rate due to lower PIB rates ISLAMABAD: The Central Directorate of National Savings (CDNS) has reduced the interest rate on the investment bonds due to lower rates of Pakistan Investment Bonds (PIB)."The CDNS interest rates are linked with the policy of PIB, set by State Bank of Pakistan (SBP)", said a senior official of CDNS while talking to APP on Saturday.He said the country's policy rates were lowest in the history and so is the interest rate of CDNS.The CDNS is ...

Pakistan - Banking & Finance

NBP profit increases by 25.3pc ISLAMABAD: The National Bank of Pakistan (NBP)'s after-tax profit has increased by 25.3% to Rs.9.5 billion as compared to Rs. 7.5 billion for the corresponding period of 2015."This translates into earnings per share of Rs 4.44 as against Rs. 3.54 for the corresponding half year 2015," Syed Ibne Hassan Spokesman of the bank said.He disclosed that in this connection a meeting of the Board of Directors (BoD) of National Bank of Pakistan (bank) was held ...

Pakistan - Banking & Finance

BoK opens new branch in Khyber Agency PESHAWAR: The Bank of Khyber under its Islamic Banking System has opened its new branch at Torkhum in Khyber Agency to provide better facilities to tribal people.The new branch was jointly inaugurated by Secretary Law and Order Dr Ataur Rehman and Political Agent Khyber Agency, Capt Reted Khalid Mehmood in a special ceremony at Torkum near Pak-Afghan Border.The Secretary Law and Order appreciated BoK management for establishment of the new branch in Torkhum, saying it ...