State Bank of Pakistan to close on July 5 and 6 for Ashura, urges early banking arrangements
The State Bank of Pakistan has announced it will remain closed on July 5 and 6, 2025, for Ashura observance. Customers are advised to complete transactions early, with digital banking services expected to remain operational during the holidays.
HugoBank names Asim Hasan Acting CEO as digital bank readies pilot launch in Pakistan
HugoBank announces a leadership change with Asim Hasan taking over as Acting CEO as the digital bank prepares to launch its pilot phase in Pakistan, marking a critical step for the country’s growing fintech landscape.
NIBAF conducts AML case study assessment for SBOTS 27th batch to boost compliance culture in Pakistan’s banking sector
NIBAF Pakistan organized an AML case study assessment for the SBOTS 27th batch under the supervision of top experts, reinforcing strong compliance practices and preparing future central bankers to uphold Pakistan’s regulatory standards.
NIBAF trains SBOTS 27th batch on functions of Deposit Protection Corporation to strengthen depositor safeguards
NIBAF Pakistan conducted a specialized training session for the SBOTS 27th batch on June 28, 2025, focusing on the functions of the Deposit Protection Corporation to enhance understanding of depositor safeguards and support long-term financial sector stability.
Karandaaz survey shows Pakistan’s decade of financial inclusion gains but urges deeper financial agency by 2028
The Karandaaz Financial Inclusion Survey 2024 reveals how Pakistan has expanded financial access over the past decade but still faces key hurdles. Experts stress the need to shift focus toward meaningful usage and financial agency to achieve NFIS 2028 goals.
PBA and top banks join hands with finance ministry, SBP to advance strategic reforms in Pakistan
The Pakistan Banks’ Association is deepening collaboration with the Ministry of Finance, SBP, and leading banks to drive strategic reforms aimed at strengthening businesses, empowering people, and aligning policy with long-term economic growth.
SBP sets new $200 limit for remittance rebates under revised incentive scheme starting July 2025
The State Bank of Pakistan has revised its rebate scheme for financial institutions handling home remittances, setting a new minimum transaction size of $200 with a flat SAR 20 rebate, aiming to strengthen formal remittance flows and compliance from July 2025.
Banks increase ATM fees for cash withdrawals at other banks, raising costs for consumers
Banks in Pakistan have raised fees for cash withdrawals at ATMs of other banks from Rs. 23.44 to Rs. 35, impacting millions of customers who now face higher costs when accessing their funds through interbank networks.
FBR misses FY25 tax target despite record Rs. 11.7 trillion collection driven by enforcement
FBR collected a record Rs. 11.7 trillion in FY25, up 26% over last year, yet fell short of its Rs. 12.3 trillion target. Strong enforcement and policy actions helped narrow the gap amid slower economic growth.
Neem partners with HBL to secure $4 million credit line, expands Shariah-compliant earned wage access across Pakistan
Neem has secured a credit line of up to $4 million from HBL to scale its Shariah-compliant earned wage access platform, Neem Paymenow, aiming to boost financial dignity and resilience for Pakistan’s salaried workforce.