SBP Cancels Licenses of Dream and Al Raj International Exchange Companies Over Regulatory Violations
The State Bank of Pakistan has immediately revoked the licenses of Dream Exchange and Al Raj International Exchange due to serious regulatory breaches.
NIBAF Pakistan Hosts 9th International Trade and TBML Training for Commercial Banks
NIBAF Pakistan conducted its 9th three-day training on International Trade and Trade-Based Money Laundering, focusing on regulatory expectations, TBML risks, and compliance practices for commercial banks.
Faysal Bank Boosts Subsidiary FICECL with Rs. 200 Million Rights Issue
Faysal Bank Limited (FABL) has injected Rs. 200 million into its subsidiary FICECL via a rights issue to comply with regulatory capital requirements, supporting the growth of its forex exchange operations.
SECP Proposes Key Changes to Companies Act 2017 to Streamline Corporate Compliance and Promote Digitalisation
The SECP and BoI have proposed major amendments to the Companies Act 2017 to reduce regulatory burdens, enhance digitalisation, improve corporate governance, and foster a business-friendly environment in Pakistan.
SECP Unveils 183 Proposed Amendments to Companies Act 2017 to Streamline Corporate Compliance
The Securities and Exchange Commission of Pakistan (SECP) has proposed 183 amendments to the Companies Act 2017, aiming to reduce regulatory burdens, enhance digitalisation, and improve corporate governance in Pakistan.
NIBAF Conducts Islamic Banking Professional Development Program IBPD-36 in Karachi
NIBAF Pakistan held the Islamic Banking Professional Development Program IBPD-36 in Karachi, strengthening expertise in Shariah-compliant banking, operations, and regulatory frameworks for bank professionals.
NIBAF Pakistan Conducts RAAST Integration and Regulatory Compliance Training
NIBAF Pakistan organized a two-day training in Karachi on RAAST integration governance, STP, and regulatory compliance to strengthen digital payment capabilities of banks and SBP officers.
JazzCash Binance MoU Signals Strategic Push for Regulated Virtual Assets in Pakistan
JazzCash and Binance have signed an MoU to explore collaboration for responsible virtual asset growth in Pakistan, aligning with the country’s evolving regulatory framework and the establishment of PVARA.
Ali Jawahir Rizvi Appointed Chief Compliance Officer & Head of Financial Crime Risk Governance at Standard Chartered Bank Pakistan
Standard Chartered Bank Pakistan has appointed Ali Jawahir Rizvi as its new Chief Compliance Officer and Head of Financial Crime Risk Governance. With extensive expertise in regulatory compliance and risk management, Rizvi will enhance the bank’s commitment to transparency, ethical standards, and robust financial crime risk governance.
TPL REIT Announces Potential Divestment of Hoshang Project to Streamline Portfolio
TPL REIT Fund I plans to potentially divest its Hoshang Project through sale of Project-B One Hoshang, subject to regulatory and corporate approvals, reflecting a strategic move to optimize its portfolio in Pakistan’s real estate market.