The global cryptocurrency market's value has topped $3 trillion as the election of Donald Trump as US president spurred bets that friendlier US regulation could usher in a new boom for all corners of the asset class. The sum market value of cryptocurrencies touched a high of nearly $3.2 trillion early on November 14 in Asia, based on analytics and data aggregator CoinGecko, and was last just sh
Shariah scholars, bankers and business leaders have called for the promotion of Islamic banking by offering interest-free loans. They argue that Islamic banking has become unavoidable in the current financial landscape when various countries are forming alliances to safeguard their economic interests, strengthen their currencies, and elevate their economies to new heights. Speaking at the Is
A court of law has temporarily barred the government from collecting an additional tax of up to 15% from banks, as about a dozen financial institutions approached the court to suspend the tax they were liable to pay after failing to meet the mandatory private sector lending targets in the outgoing year 2024. Citing the Pakistan Banks' Association, the global media outlet Bloomberg reported on T
The government has expedited the consultation process for deregulating the petroleum sector and setting uniform gas prices for the processing industry along with wellhead, piped gas and liquefied natural gas (LNG). Prime Minister Shehbaz Sharif has directed the Petroleum Division to work out proposals for deregulating the petroleum sector and fixing uniform prices for locally produced and impor
As the government awaits the International Monetary Fund's (IMF) position on the mini-budget, the Minister of State for Finance, Ali Pervaiz Malik, announced on Thursday that tax notices are being sent to Pakistan's wealthiest 5,000 non-filers, with an expected revenue collection of Rs7 billion. Following a desk audit of transaction data for 200,000 non-filers, the top 5,000 high-net-worth indi