Category Archives: Financial Services

Jubilee General Insurance Company Limited’s financial results for the year ended December 31, 2011 issue of bonus shares

Karachi: Further to our letter dated February 14, 2012, on the above subject.

We are enclosing herewith a Certified True Copy of Free Reserve Certificate as at December 31, 2011 issued by our auditors M/s. …

Best way to use finance is to promote well‐being of the poor: Professor Banerjee

Karachi: Dr. Abhijit Vinayak Banerjee, Professor of Economics at Massachusetts Institute of Technology (MIT) has said the best way to use finance is to promote the well‐being of the poor and to find ways to …

Bilateral Currency Swap Arrangement signed between the central banks of Pakistan and China

Islamabad: A landmark bilateral Currency Swap Arrangement (CSA) has been signed between State Bank of Pakistan (SBP) and the People’s Bank of China (PBC) in a ceremony held on 23 Dec.2011 in Islamabad, Pakistan by …

Finance Minister chairs 7th meeting of Tax Reforms Core Group at FBR

Islamabad: The seventh meeting of the Tax Reforms Core Group (TRCG) was held in the Board Room of FBR Headquarters under the chairmanship of Federal Minister for Finance Dr. Abdul Hafeez Sheikh.

The meeting discussed …

State Bank directs banks to exchange Rs. 5 banknote till 31st December, 2012

Karachi: The State Bank of Pakistan (SBP) has directed all commercial banks and the field offices of SBP Banking Services Corporation (SBP BSC) operating throughout the country to exchange the existing Rs. 5 banknote with …

IFC Launches Alternative Dispute Resolution Project in Lahore

Lahore: IFC, private sector arm of the World Bank Group, has launched an Alternative Dispute Resolution (ADR) Project in Lahore. IFC had previously supported the setting up of Karachi Centre for Dispute Resolution (KCDR), which …

Governor State Bank stresses the need for development of debt market to spur economic growth

Karachi: ‘Pakistan’s economy and the financial sector are now at a stage where they can support and benefit from a vibrant and efficient debt market. The size of private debt, or Term Finance Certificates (TFCs) …

National Bank of Pakistan Successfully Meets 1000 Online Branches Target Qamar Hussain, President: National Bank of Pakistan

Karachi: In a major achievement, National Bank of Pakistan has converted its 1000 branches online out of its countrywide network of 1270 branches. In a short span of eight months NBP’s IT Division was able …