NIBAF Strengthens Compliance Expertise with Training on Section 23K of FERA
NIBAF Pakistan held a one-day training session on September 5, 2025, in Karachi, led by Muhammad Akram Zaki, to enhance compliance expertise of commercial bank officers under Section 23K of the Foreign Exchange Regulation Act (FERA).
Islamabad High Court Suspends SECP Directive Against United Insurance Company
The Islamabad High Court has suspended SECP’s directive that halted United Insurance Company’s guarantee business operations, granting interim relief to the insurer while legal proceedings continue.
SBP Ties Digital Assets to Forex Law as Pakistan Advances PVARA Bill for Virtual Assets
The State Bank of Pakistan has confirmed that restrictions under the Foreign Exchange Regulation Act will apply to digital asset transfers, as lawmakers debate the Pakistan Virtual Assets Regulatory Authority Bill to establish a formal framework for the country’s crypto and digital finance regime.
SECP Recovers Rs26 Million in Penalties, Intensifies Crackdown on Corporate Non-Compliance
The Securities and Exchange Commission of Pakistan (SECP) has recovered Rs26 million in penalties during FY 2024–25 and launched aggressive enforcement actions against illegal financial activities and corporate non-compliance.
NIBAF CEO Riaz Nazarali Chunara Highlights Central Bank Challenges Amid Fintech and AI Disruption During SBOTS-27 Session
NIBAF CEO Riaz Nazarali Chunara led an in-depth session for SBOTS-27 participants, discussing how central banks can respond to the disruptive rise of fintech and AI. The training focused on regulatory challenges, innovation strategies, and the need for future-ready policies in Pakistan’s financial sector.