Wednesday, 13 March 2013 15:24
Posted by Parvez Jabri
KARACHI: The Pakistan Credit Rating Agency (PACRA) has upgraded MCB Bank's Long Term Credit Rating from AA+ to AAA which defines the highest credit quality with lowest expectation of credit risk.A statement here on Wednesday said that such rating is assigned only in case of exceptionally strong capacity for timely repayment of financial commitments and which is highly unlikely to be negatively affected by foreseeable events and reflects the top status on the PACRA rating ...
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KARACHI : Pakistan's central bank said it would buy government paper from commercial banks on Friday in seven-day reverse repo to inject funds into the money market.The State Bank of Pakistan did not say how much money it would inject through the open market operation.Copyright Reuters, 2013 ...
KARACHI: The Pakistan Credit Rating Agency (PACRA) has upgraded MCB Bank's Long Term Credit Rating from AA+ to AAA which defines the highest credit quality with lowest expectation of credit risk.A statement here on Wednesday said that such rating is assigned only in case of exceptionally strong capacity for timely repayment of financial commitments and which is highly unlikely to be negatively affected by foreseeable events and reflects the top status on the PACRA rating ...
BAHAWALPUR: Punjab Finance Department (PFD) on Wednesday released funds of Rs5.85 million to the district to facilitate the schools.According to official sources, overall funds of Rs100 million were issued for the schools of 11 districts of Punjab.The funds will be utilized for constructing class rooms, laboratories and other facilities.Copyright APP (Associated Press of Pakistan), 2013 ...
ISLAMABAD: President of the National Bank of Pakistan (NBP) Asif Brohi Tuesday said that the bank would open 40 new branches in rural areas for the development of agriculture sector.The NBP President was speaking in the meeting of Senate's Standing Committee on Finance and Economic Affairs held here here under the chairmanship of Islamuddin Shaikh.The NBP launched its credit card scheme in 1995 but could not continue it due to some reasons, he said ...
KARACHI: Ashraf Mahmood Wathra on Monday assumed the charge of the office of Deputy Governor (DG), State Bank of Pakistan (SBP). The Federal Government had notified Wathra's appointment as DG, SBP on March 5, for a period of three years from the date he assumes the office. Wathra brings 35 years of commercial and investment banking experience to his new assignment. Prior to joining SBP, he was serving the National Bank of Pakistan (NBP) as ...
PESHAWAR: The Department of Finance, Khyber Pakhtunkhwa has notified the appointment of Mir Javed Hashmat as Acting Managing Director, The Bank of Khyber (BOK).
He was working as Executive Director of the bank and had joined BOK as Member Board of Directors in September 2008.
Prior to joining Bank of Khyber Board of Directors, he was an active member of business community and office bears of various industrial and business organizations, as a Member Board & later ...
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has issued five warning letters, eight show-cause notices and one order to various insurance/ takaful companies for "failing to comply with corporate laws, insurance laws and accounting standards and regulations".
An announcement to this effect was made in a statement issued here on Wednesday.
It said that these warnings, show-cause notices and order were issued by the Insurance Division in the month of Feb.
Among these notices, one was ...
