Mobile banking an effective way for achieving financial inclusion According to latest official figures regarding real-time online banking, the network of ATMs in the banking industry continued to grow reaching from 10,099 to 10,736 during the second quarter of current fiscal year 2016. During this period some 5,689 POS machines were also added to the network showing a growth of 12.82% as compared to first quarter of FY16. The …

  Country wins global recognition in online banking policy initiatives and businesses Branchless banking regulation was first introduced in Pakistan in April 2008. From the start, State Bank of Pakistan (SBP) has taken a positive regulatory approach by providing clear cut guidance and adjusting regulation where necessary. Pakistan has now firmly established the regulatory environment and supporting institutional framework to extend the field of branchless banking. A variety of business …

  Auto financing set to grow up after the positive outlook of economy The main advantage of low interest rates is their growth effect on economic activity. By reducing interest rates, the Central Bank helped increase business spending on capital goods. The reduction also helps economy’s long-term performance and increase household expenditures on homes/consumer durables. Low interest rates raise asset prices. People use excess balances to increase their purchases of …

  Islamic banking and finance has become a flourishing business with assets estimated at value of over US$180.0 billion. It is spreading from UK, USA and Switzerland to the Middle East and Asia. Both Muslims and non-Muslims are using extensively the facilities being provided by Islamic banking and finance. Malaysia and Pakistan are well known for its Islamic banking and finance system. Both being the Muslim countries, the Islamic financial …

  Finance Minister Ishaq Dar officially announced the merger of the stock markets of Karachi, Lahore and Islamabad into one entity the Pakistan Stock Exchange (PSX) on January 11, 2016. The PSX will operate from the Karachi Stock Exchange under the new set-up. The Lahore Stock Exchange has been converted into LSE Financial Services Limited with a licence of an NBFI and Islamabad Stock Exchange into the ISE REIT Management …