Swiss assets

Switzerland is a known destination for money from all over the world due to its strict banking secrecy laws and low financial risk. Now an extraordinary leak of data from Credit Suisse, Switzerland’s second-largest lender, has exposed how the bank

Opening bank accounts

In Pakistan, a large number of people are excluded from availing banking facilities either due to legal reasons, excessive paperwork, or the inconvenience of visiting a bank. Women, trans persons, self-employed and those in the informal economy are deprived of

SBP allows ‘mentally disordered persons’ to open bank accounts

KARACHI: State Bank of Pakistan (SBP) has allowed “mentally disordered persons” to open a bank account for the first time. According to a statement, the process has been devised after thorough consultation with stakeholders. Now, for the first time in

Explosion rocks bank in Karachi’s Paposh Nagar area

KARACHI: An explosion occurred inside a bank in the Paposh Nagar area on Friday afternoon, damaging the shutters and cracking window glasses of the building. Police and Rangers officials reached at the site of the incident shortly after the blast

One killed as water tanker rams into bank in North Nazimabad

KARACHI: At least one person was killed and seven others were injured when a speeding tanker rammed into a private bank’s branch in North Nazimabad area on Monday morning. The wanter tanker struck inside a bank after the driver lost

EXIM Bank to start operations in Pakistan

ISLAMABAD: The federal cabinet has approved the enactment of the Export-Import Bank of Pakistan Act, 2020 paving the way for the bank to start operation in the country. According to Adviser to Prime Minister for Commerce and Investment, Abdul Razak

US imposes sanctions on Iranian banks, financial sector

WASHINGTON: United States President Donald Trump’s administration imposed sweeping sanctions on Iran’s banking sector, taking a major new step to cripple the arch-rival’s already struggling economy weeks ahead of US elections. The US Treasury Department said it was designating 18

SBP announces revises bank timings

KARACHI: The State Bank of Pakistan (SBP) has revised timings for all commercial banks and microfinance institutions in the country. According to the notification,  the new timings will be implemented effectively from Monday 13th July. Banks will remain open from

SBP orders commercial banks to facilitate prize bonds holders

KARACHI: State Bank of Pakistan (SBP) has taken notice of the banks that are unwilling to facilitate prize bonds holders. In a statement, the SBP stated, “It has been observed that commercial banks have not been extending the desired level