Bank of Punjab Receives SBP Approval to Establish Overseas Wholesale Banking Unit in Bahrain
Bank of Punjab has received in-principle approval from the State Bank of Pakistan to establish an Overseas Wholesale Banking Unit in Bahrain, subject to regulatory clearances from Pakistan and Bahrain.
HugoBank Receives SBP Approval To Begin Pilot Operations For Digital Banking Platform
HugoBank has received approval from State Bank of Pakistan to begin pilot operations, allowing the upcoming digital bank to test its products, systems and operational readiness.
CCP Approves Stonepeak’s Acquisition Of Castrol’s Global Lubricants Business Following Competition Review
Competition Commission of Pakistan has approved Stonepeak’s acquisition of BP’s global Castrol lubricants business after concluding the transaction would not reduce competition in Pakistan’s lubricants market.
Bank Alfalah Shareholders Approve Sale of Bangladesh Operations to Bank Asia
Bank Alfalah Limited shareholders officially greenlight the 47.5 million dollar sale of the bank’s Bangladesh business as part of a strategic international restructuring.
LSE Ventures receives SECP corporate restructuring license to acquire and revive distressed companies
LSE Ventures Limited has obtained a Corporate Restructuring Company license from SECP, enabling it to acquire non-performing assets and undertake restructuring and revival of distressed businesses in Pakistan.
Barq PK Secures SBP’s In-Principle Approval to Launch EMI Wallet in Pakistan
Barq PK has secured In-Principle Approval from the State Bank of Pakistan to establish an EMI Wallet, marking a significant milestone in advancing digital financial inclusion and accelerating the country’s transition toward a cashless economy.
SBP Grants In-Principle Approval to Samba Bank for Islamic Banking Transformation
The State Bank of Pakistan has given in-principle approval to Samba Bank to begin Shariah-compliant operations, marking a major step in its planned transition from conventional banking to a fully Islamic bank.