Dewan Motors Pvt. Ltd., the country’s authorized BMW importer, have teamed up to boost the electric vehicle (EV) infrastructure in Pakistan. Dewan had launched the first Plug-in Hybrid Vehicles in Pakistan with BMW brand back in 2016. We have been striving to create awareness of advantages of semi electric and fully electric vehicles in Pakistan….
Embracing a dynamic shift, sixteen banks and Microfinance Banks (MFBs) have broadened their horizons by venturing into Branchless Banking (BB) services in the first quarter of FY24. This strategic move is highlighted in the quarterly payment systems report released by the State Bank of Pakistan (SBP), showcasing a significant expansion in the accessibility of financial…
Experience a substantial uptick in retail transactions as Pakistan sees a noteworthy 4.2% surge in volume and an impressive 22.4% increase in value during the first quarter of fiscal year 2024, concluding on September 30, 2023. The State Bank of Pakistan (SBP) quarterly report on Payment Systems has revealed these remarkable statistics, showcasing the vibrant…
In a testament to the increasing acceptance and reach of Islamic banking, the assets of Islamic banks have surged, reaching an impressive figure of over Rs. 8 trillion by the end of September 2023. This remarkable growth in asset value and deposits is highlighted in the Islamic Banking Bulletin released by the State Bank of…
Startup funding landscape in Pakistan has experienced a challenging year, witnessing a significant downturn with investments plummeting to $75.6 million in 2023, as revealed by Data Darbar. This marks a substantial 77.2 percent year-on-year (YoY) decline compared to the same period last year. The data further indicates that a notable portion of the funds, totaling…
In a concerning development, hackers have successfully infiltrated FBR’s sales tax system, manipulating sales tax returns of legitimate taxpayers to claim false sales/purchases and illicitly obtain tax credits and refunds amounting to billions. The Federal Tax Ombudsman (FTO) has taken swift action, directing the FBR to address the issue and take stringent measures against the…
Pakistan Stock Exchange’s KSE-100 Index Records Impressive 55% Gain in 2023 In a significant turn of events, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index delivered a remarkable gain of 55 percent in 2023, according to a comprehensive report by Topline Securities. This substantial increase, inclusive of dividends, marks the highest surge in the index…
To enhance customer satisfaction and streamline grievance redressal processes, the State Bank of Pakistan (SBP) has reintroduced its dedicated portal, Sunwai, to promptly address issues and complaints from bank customers. The bilingual portal, designed to facilitate ease of use for the general public, enables individuals to file complaints against Banks, Microfinance Banks (MFBs), and Development…
Largely negative about their ongoing prospects, the country’s business owners have started gaining confidence, and their expectations for a better future have risen 42% from the previous quarter, shows a latest survey. “Relatively fewer business owners are pessimistic about future conditions and the direction of the country compared to Quarter 2,” according to a Gallup…
JazzCash, a pioneering force in the fintech sector, is proud to announce its strategic collaboration with Mastercard, positioning itself as the first mobile wallet in Pakistan to bring tap-and-pay functionality and wallet tokenisation through Mastercard. The announcement made headwinds at Mastercard’s MENA East Business Forum, where JazzCash was recognised as “Mastercard’s First Digital Front-End Partner”,…
