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Business & Finance

Return of income Tax: Prosecution for company failing to furnish info proposed

ISLAMABAD: The government has proposed prosecution for any company including banks and association of persons (AOPs)...

Published 13 Jun, 2024 06:22am

Business & Finance

SME sector: SBP directs banks to adopt DSCF solutions

KARACHI: The State Bank of Pakistan (SBP) has instructed the banks to adopt Digital Supply Chain Finance (DSCF)...

Published 12 Jun, 2024 06:51am

Technology

Banks say growing reliance on Big Tech for AI carries new risks

AMSTERDAM: The boom in artificial intelligence will increase banks’ dependence on big US tech firms, creating new...

Published 10 Jun, 2024 06:52am

Print

WHT on cash withdrawals: PM rejects another key revenue step of FBR

ISLAMABAD: Prime Minister Shehbaz Sharif has rejected another key revenue measure of the Federal Board of Revenue...

Updated 07 Jun, 2024 12:54pm

Print

Non-filers: FBR proposes WHT raise on cash withdrawal from banks

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to raise withholding tax on cash withdrawal from the...

Updated 16 May, 2024 11:50am

Business & Finance

Banks slow to limit coal financing: NGO

FRANKFURT, (Germany): Banks lent almost $470 billion to the coal industry between 2021 and 2023, according to a ...

Published 03 May, 2024 06:29am

Business & Finance

Oman Housing Bank selects Temenos for core banking upgrade

KARACHI: Oman Housing Bank has selected Temenos to modernise its core banking capabilities in the cloud. With...

Published 06 Apr, 2024 05:28am

Business & Finance

PIA’s commercial debt negotiations: Govt, domestic lender banks successfully conclude

ISLAMABAD: The commercial debt negotiations of Pakistan International Airlines Corporation Limited (PIACL) have been...

Published 30 Mar, 2024 05:30am

Markets

Banks and industrial stocks lift Dubai, Abu Dhabi falls

DUBAI: Dubai’s main share index closed higher on Friday, boosted by gains in banking and industrial sector stocks...

Published 30 Mar, 2024 04:58am

Print

Banks asked to ensure lending to priority sectors

KARACHI: The Federal Minister for Finance and Revenue, Muhammad Aurangzeb on Friday asked banks for lending to...

Updated 30 Mar, 2024 02:21pm

Business & Finance

Taxpayer gets reimbursed amount recovered from his bank account

LAHORE: Due to the tax authorities’ failure to specify a reasonable payment timeframe, a corporate taxpayer...

Published 19 Mar, 2024 04:53am

Print

SBP revises timelines for Banks’ Floating Exchange Rates

KARACHI: The State Bank of Pakistan (SBP) has revised the timelines for submission of data of Banks’ Floating...

Updated 29 Feb, 2024 08:50am

Print

Conduct of business of banks: FTO has no jurisdiction to probe legality: IHC

ISLAMABAD: The Islamabad High Court (IHC) has declared that the Federal Tax Ombudsman (FTO) cannot assume the powers...

Updated 28 Feb, 2024 09:19am

Business & Finance

(MRTs)/(MRCs), GMs: HBL delineates deferred compensation policy

KARACHI: Habib Bank Limited (HBL) has informed that in accordance with the Risk Aligned Remuneration Policy of the...

Published 07 Feb, 2024 05:30am

Pakistan

Election day: banks to remain closed on February 8

Banks in Pakistan will remain closed on Thursday, February 8 on account of it being election day, the State Bank of...

Updated 06 Feb, 2024 08:28pm

Business & Finance

CY23: Soneri Bank posts 222.61pc growth in PAT YoY

LAHORE: The Board of Directors of Soneri Bank Limited, in their 202nd meeting held in Lahore on Wednesday, approved...

Published 01 Feb, 2024 04:52am

Business & Finance

New banknotes: SBP says process to take 2 years

KARACHI: The State Bank of Pakistan (SBP), initiating the process for designing and issuing a new banknotes series ...

Published 31 Jan, 2024 05:22am

Business & Finance

SIFC EC reviews various policy-level initiatives

ISLAMABAD: The eighth session of the Executive Committee of Special Investment Facilitation Council (SIFC) started ...

Published 25 Jan, 2024 04:23am

Business & Finance

Collection of govt receipts, taxes: Bank branches to remain open today, tomorrow

KARACHI: The State Bank of Pakistan (SBP) has announced opening of concerned branches of all banks for collection of...

Published 30 Dec, 2023 06:28am

Business & Finance

Internal control lapses: Rs90m penalties on erring banks termed ‘peanuts’

ISLAMABAD: The State Bank of Pakistan (SBP) has imposed penalties of Rs90 million on different banks and ...

Published 20 Dec, 2023 06:00am

Print

‘Handling complaints of aggrieved persons’: President sets aside order of Banking Mohtasib

ISLAMABAD: President Dr Arif Alvi has set aside an order of Banking Mohtasib Pakistan and directed the Mohtasib to...

Updated 11 Dec, 2023 09:48am

Print

‘Illegal’ LCs, forex market speculation: MoF set to share list of banks with SIFC today

ISLAMABAD: The Finance Ministry is all set to share the list of banks involved in illegal business relating to LCs...

Updated 07 Dec, 2023 09:49am

Business & Finance

Banks could face rules on climate risk reporting

BASEL (Switzerland): The international bank regulatory body on Wednesday launched a process to develop rules for...

Published 04 Dec, 2023 05:35am

Print

DPC proposes ‘appropriate’ changes in statute

KARACHI: The Deposit Protection Corporation (DPC) has proposed “appropriate” changes in its statute to enhance its...

Updated 02 Dec, 2023 03:53pm

Business & Finance

Banks get carbon emissions standard they sought for stock, bond deals

LONDON: Banks will need to account for a third of the emissions linked to their capital markets deals when they...

Published 02 Dec, 2023 05:09am

Print

LHC, too, suspends SRO about tax on banks’ windfall income

ISLAMABAD: The Lahore High Court (LHC) has also suspended the SRO 1588(I)/2023 of the Federal Board of Revenue (FBR)...

Updated 01 Dec, 2023 09:50am

Business & Finance

Solar panel importers: Banks penalised for failing to check money laundering, over-invoicing

ISLAMABAD: The State Bank of Pakistan (SBP) has imposed penalties on certain banks for not checking massive money...

Published 30 Nov, 2023 04:53am

World

European countries differ over windfall taxes on banks

STOCKHOLM: Some European countries have imposed windfall taxes on banks’ profits to help fund their response to ...

Published 20 Nov, 2023 06:28am

Business & Finance

Cabinet approves levy of 40% tax on banks’ windfall profit earned during 2021-22

The federal cabinet on Wednesday accorded approval to impose 40% tax on windfall profit earned by banks on the...

Published 15 Nov, 2023 10:20pm

Print

Forex deals: Tax on windfall profits of banks likely

ISLAMABAD: The government is likely to invoke provisions of the Finance Act, 2023, to impose tax on windfall...

Updated 15 Nov, 2023 09:49am