Latest News

European Banks see ECB exams as step to unlocking lending

Frankfurt: The European Central Bank’s unprecedented inspection of lenders’ books will help end a slump in lending that’s dogged southern Europe for years, said executives at some of the region’s largest banks. “After the comprehensive assessment, when worries about capital levels are clarified, banks will be more open with credit,” [...]

SBP phases in new Islamic finance rules

Central bank revises down MCR limit to Rs 6b for Islamic banking subsidiary Karachi: In order to bolster financial inclusion through promotion and expansion of Islamic banking across the country, State Bank of Pakistan (SBP) has revised down the Minimum Capital Requirement to Rs 6 billion from Rs 10 billion [...]

PIAF shows concern over decline in exports

Pakistan Industrial and Traders Associations Front (PIAF) has expressed grave concern on ten percent decline in exports in first quarter of the financial year and sought the help of the Federal Finance Minister to reverse this While addressing a delegation of Manufacturers of Lahore Township Industrial area Mr Malik was [...]

SECP to introduce concept of LLP

The Securities and Exchange Commission of Pakistan (SECP) in collaboration with USAID, held the third session in a series of advocacy and consultative sessions, to introduce the concept of Limited Liability Partnership (LLP) in Pakistan at the Sialkot Chamber of Commerce and Industries (SCCI) on Monday. Speaking on the occasion, [...]

Sizzling or cold Turkey?

A well-known Turkish expression would roughly translate as “there is good in every malice.” If nothing else, last week’s rout in global markets seems to have improved investors’ perception of Turkey. Several domestic and international banks released reports on the country last week, arguing that global market movements were positive [...]

Unsung heroes

In my last column I mentioned my competent and impeccably honest colleague, Dr Muhammad Farooq. He had established an excellent network for ordering and procuring important materials and equipment through our upright representatives, Eng Ikramul Haq Khan (Minister in Bonn, Germany) and Abdul Jamil, auditor, Military Accounts, London, for which [...]