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Last update: Mon, 25 Jul 2016 11am

Banking & Finance

Pakistan - Banking & Finance

Branchless banking shows mix growth trend in three months ISLAMABAD: The growth indicators of branchless banking sector in the country have showed that the number of transactions marginally grew to 101.6 million in second quarter of this year as compared to 100.8 million in previous quarter.The number of transactions has registered a growth of 0.8 per cent while value of transactions for branchless banking in fact showed decline from Rs 526 billion to Rs 486 billion during the quarter under review.The average size of transaction also declined from Rs 5,219 to Rs 4,782 during the period.Statistics about the sector have revealed that with such indicators, number of agents, number of active brancless banking agents, number of accounts and deposits in accounts grew during the quarter.State Bank of Pakistan has said that there is a promising shift within the transactions from OTC to m-wallets.During the quarter, the ratio of m-wallet to OTC customer oriented transactions increased by 3%, reaching 34%, ...

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 ...

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) ...