Tag Archives: Bank

  Standard chartered makes it digitally innovative Credit cards — in fact a way of borrowing and looks attractive when one goes to have one for purchasing goods and obtaining other services but however the attraction of the card evaporates as soon as it piles up the debt beyond ones capacity to payback. It is a facility to be used productively for the good of the holder and not to …

  Mobile wallet accounts to cross 50 million in five years The State Bank of Pakistan has developed a strategy, in collaboration with the World Bank, to make a multifold surge in mobile account holders to over 50 million in the next five years, as branchless banking remains an effective channel to expand outreach of un-banked and under-banked people in the country. The governor State Bank of Pakistan Ashraf Mahmood …

  The monetary policy has been misused to a large extent. There was exploitation of the depositors’ money by the rich and powerful class in the absence of an effective central bank. The government enacted laws to give autonomy to the SBP in conducting an independent monetary policy in coordination with, rather than in subordination to fiscal policy, and to make the SBP the exclusive regulatory authority over the banking …

  Innovation & technology The financial services market is undergoing a lot of changes. Customers always have appetite for more and are well knowledgeable, looking for convenience and ease when it comes to financial services, particularly via internet and mobile phones making innovation and transformation two most powerful forces that are reshaping the banking industry. Customer expectations, technological capabilities, regulatory requirements, demographics and economics are some of the challenges that …

  Need for increased investment in social sectors like health, education and nutrition stressed The World Bank report on ‘Pakistan Development Update – Making growth matter’ was launched in Karachi, recently. It stated that Pakistan is rated among top emerging economies and its economy grew by 4.7 percent in this fiscal year. This was the highest rate in eight years and a significant increase from the previous year’s 4 percent. …

  One of the biggest problems facing the Small and Medium-sized Enterprises sector is the lack of financing available to these firms. There is no reason that why is lending restrained to the sector after it contributes 35 percent to national exports and is considered to be the backbone of the economic sector. Despite substantial contribution of SME sector in the country’s GDP, the sector is not getting its due …

  Interview with Mr Ghazanfar Azam – CEO, Mobilink Microfinance Bank Profile Ghazanfar Azam joined Mobilink Microfinance Bank (MMBL) formerly known as Waseela Microfinance Bank Limited as its President and Chief Executive Officer (CEO) in April 2012. Under his guidance, Waseela Microfinance Bank now operates 51 branches and 60,000 branchless banking agents offering micro loans, savings, domestic remittances, utility bill collection, mobile wallets, life insurance, G2P& B2P payments through a …

  In recent years, the international community has begun to focus on financial inclusion as part of a broader strategy to reduce poverty, encourage economic development, and promote stability and security. The term ‘financial inclusion’ refers to the provision of accessible, usable, and affordable financial services, either through the formal or informal financial sector, to underserved populations. Financial inclusion also applies to ‘underbanked’ communities, where people lack reliable access to …

  Pakistan’s housing crisis is well known reality as the country requires about ten million homes. Migration from rural areas to urban areas has resulted in an urban growth, which has been about three times faster. Pakistan’s urban population stands at 75 million or 39 percent of total population while experts believe that it will (population) rise to 114 million by 2025. The lack of funding is the biggest obstacle …

  Islamic car financing has been fully introduced by the banks and financing companies all over the country. Here are some of the most prominent Islamic car financing banks, which are providing services to the customers under the terms and conditions of Islamic loan system. Meezan Bank Meezan Bank, Pakistan’s first and largest Islamic bank has been awarded the ‘Most Popular Bank’ in Pakistan’s Islamic auto financing sector in the …