Banking & Finance
Sunday, 14 April 2013 18:35
439
ISLAMABAD: Mobile banking in Pakistan has witnessed a reasonable growth as the number of such accounts (M-Wallets) has reached 1.4 million by 2012, showing an increase of 156 percent as compared to previous years. The current number of m-banking accounts is seven times higher than the numbers at the end of September 2010. Of the total 1.4 million m-banking accounts, 66 percent are active accounts and the ratio of active accounts has increased from 54 percent as of end December 2011. Telecom sector regulator, Pakistan Telecommunication Authority (PTA) in its report has revealed that this increase in the active accounts is mainly due to increase in the small transaction m-banking accounts by UBL Omni, facilitated by regulatory flexibility in account opening by State Bank of Pakistan (SBP). Keeping in view the cellular mobile subscription of over 120 million, the figure of 1.4 million m-banking accounts is a very small number, ...
RECORDER REPORTKARACHI: The State Bank of Pakistan has said that the outlook for the economy is strongly influenced by the perceived vulnerabilities in the external sector and the country is likely to achieve a GDP growth rate of upto 4 percent against the target of 4.3 percent for FY13. Structural problems in Pakistan's economy persist and manifestations such as the debt trap, loss-making Public Sector Enterprises (PSEs) and a narrow tax base, will continue to ...
KARACHI: The First Women Bank Limited (FWBL) has established a Human Resource and Development Centre.The president of the Bank, Mrs Shafqat Sultana, performed the inauguration here on Tuesday.Addressing the executives and employees of the FWBL she said that focusing on human resource development is the first priority of the Bank so that its professional base is expanded and strengthened.She was of the view that in these days the training is just like marketing and that ...
KARACHI: The process of disbursement of salary to the staff of the Karachi Metropolitan Corporation (KMC) would commence from Monday.This was stated by the Administrator of the KMC, Syed Hashim Raza Zaidi, on Saturday.He said that firstly the salaries would be paid to the employees from grade one to five.The Administrator pointed out that the payment of pension to retired employees and other dues is continuing.He further stated that by June all outstanding dues would ...
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