Banking & Finance
Friday, 15 March 2013 22:21
465
ISLAMABAD: The National Bank of Pakistan (NBP) received Middle East Renewable Deal of the Year 2012" award from Project Finance Magazine, a publication of Euromoney PLC, for its role in Pakistan's first ever 100 percent Islamic Finance Renewable Power Projects Foundation Wind Energy 1 and 2.Upon completion, the projects will contribute 100MW of electricity to Pakistan's power grid, a statement of NBP issued on Friday said.The NBP added that the transactions are valued at approximately US $ 250 million and are sponsored by the Fauji Foundation, Fauji Fertilizer Bin Qasim, Tapal Group and Islamic Infrastructure Fund (operated by CapAsia Private Equity (Malaysia))In addition to the equity contribution of the sponsors, the financing is being provided by a foreign group of multilateral development banks (Asian Development Bank and Islamic Development Bank) lending to the Projects under a USD denominated Ijara facilities in addition to Rupee denominated syndicated Musharaka facilities.By virtue of ...
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 ...
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 ...
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