The rise of branded chain of supermarkets, mostly people has switched traditional grocery to branded grocery in Karachi and other urban cities of the country. This trend doesn’t show an impressive image in rest of town and cities of the country. These supermarket or retailer business sector has a massive contribution in Pakistan’s economy. Private enterprises in the industrial sector employ nearly 78 percent of the country’s GDP. Historically, the …
Read More »COVID-19 pandemic: traditional banking habits must hold up
The consequences of the COVID-19 pandemic for the global economy, and financial sector in particular, are still unpredictable. It has crippled economic activities, overturned supply chains and crumpled the demands for goods. The virus has forced both the consumers and the businesses to spend and invest less. The consensus amongst most economists is the slow downing and eventually downward revisions in GDP growth targets. Countries have introduced stimulus programs to …
Read More »Mobile banking – banking for all
In Pakistan, foreign banks initiated in mid 1990 the concept of electronic banking practices. Domestic banks also adopted the technology and E-banking services like ATM cards and debit cards in late 90s were introduced. The swift improvement in electronic distribution channels has produced tremendous changes in the financial industry, especially with a rising rate of change in technology. The developments happen in information and communication technology are escalating competition …
Read More »Growing network of ATM rejuvenated the banking industry
During the second quarter of current fiscal year, the network of ATMs continued to grow reaching from 10,099 to 10,736 and additionally 5,689 POS machines were added to the network, showing a growth of 12.82 percent compared to first quarter of fiscal year 2016. Number of cards, issued by the banks, increased by 16.27 percent and it reached a total of 33 million by the end of the quarter. …
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