Pakistan will implement the decision of the Federal Shariat Court (FSC) to rid the country of an interest-based banking system, Finance Minister Ishaq Dar said on Wednesday, but many are questioning whether it will be possible to do it at all. The FSC was established in Pakistan in 1980 under the reign of military dictator Ziaul Haq and is responsible “to examine and decide the question whether
Fintech is one of the most rapidly growing sectors with the highest demand in the world. Fintech fuses financial services with digital technology to provide consumers and corporations with creative financing alternatives. The creation and installation of the BAAS (Banking As A Service) Model – which enables firms to accept and deliver a full variety of financial services to their customers – usher
Bank Alfalah Ltd said on Thursday it’s going to buy up to 200 million of its own shares at the price prevailing on the stock exchange. The targeted shares constitute about 11.25 per cent of the total shareholding and 32.15pc of the free-float. The purpose of the buyback is the cancellation of shares, which will lead to an increase in the earnings per share. The purchase period will last from
The government is expected to launch 5G technology in July next year, which was earlier announced to be done by December. IT and Telecommunications Minister Syed Amin ul Haq while announcing the new date vowed that the initiative would help further boost the IT industry and its export at an exponential rate. Addressing a ceremony at the UBIT Career Fest 2022, organised by the Department of Comp
Foreign exchange reserves of the State Bank of Pakistan (SBP) decreased $956 million to $7.95 billion due to external debt servicing during the week ending on Nov 4, a central bank statement said on Thursday. Major external debt repayments executed during the week include the repayment of the government’s commercial loans. Refinancing of these loans is in process, which will improve foreign exc