How come Islamic Banks pay consistent returns? | The Express Tribune

  Why Islamic banks pay consistent returns? When it’s based on profit and loss sharing why they never share losses? How is this Islamic? How can an Islamic bank which is actually in loss, pay consistent profit to their depositors? These are some of the many questions raised against Islamic banks nowadays. We will try […]

FinMin, PBA discuss enhancing banks’ support for key sectors

Finance Minister Muhammad Aurangzeb in this undated photo. — APP The Pakistan Banks’ Association (PBA) and Federal Minister for Finance and Revenue Muhammad Aurangzeb on Sunday discussed the ways for enhancing banks’ support for three key sectors, including agriculture, small and medium enterprises (SMEs), and Digital & Technology. The meeting focused on enhancing support by […]

The tale of two banks | The Express Tribune

ISLAMABAD: “…….we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period,” excerpt from Charles Dickens’ “The Tale of Two Cities” published in 1859. The year was 1997 and […]

Ethiopian envoy urges Pakistani banks to expand into Addis Ababa | The Express Tribune

FAISALABAD: Ambassador of the Federal Democratic Republic of Ethiopia, Jemal Beker Abdula, has urged Pakistani banks to open branches in Addis Ababa for business transactions. Addressing the business community at the Faisalabad Chamber of Commerce & Industry (FCCI), he emphasised that the Ethiopian government would facilitate businesses, enhancing bilateral trade. Establishing a banking channel is […]

Banks to observe Eid ul Fitr holidays from April 10-12

National Bank of Pakistan. — Radio Pakistan/File    KARACHI: All the banks and financial institutions will observe Eid ul Fitr holidays from April 10 to 12, announced the State Bank of Pakistan (SBP) on Thursday. In a statement, the SBP announced that the central bank will “remain closed from 10th to 12th April, 2024 (Wednesday […]

Pakistan Banks’ Association appoints Muneer Kamal as CEO, secretary general

Newly-appointed Pakistan Banks’ Association (PBA) CEO and Secretary General Muneer Kamal. —PBA/File KARACHI: The Pakistan Banks’ Association (PBA) Executive Committee has unanimously selected Muneer Kamal as the chief executive officer (CEO) and secretary general of the association, after retirement of Tawfiq A Hussain from the said positions. Hussain will retire on March 31 and he […]

Banks achieve 86% growth in profits | The Express Tribune

KARACHI: Pakistan’s banks listed on the stock market have reported an outstanding growth of 86% in their net profit in the year ended December 2023, boosting total earnings to a record high of Rs572 billion amid a higher interest rate season in the country. The banks have managed to achieve a record high profit despite […]

Spectre of default haunts US banks | The Express Tribune

KARACHI: The Covid-19 pandemic is almost gone, but it is still haunting the US real estate sector and its banking system. Large office buildings, vacated right after the outbreak of the deadly virus, are still empty as the work-from-home model has been increasingly adopted, causing hefty losses to owners of high rises and making it […]

Job cuts expected at banks in Asia | The Express Tribune

Overall, investment banking fees collected by global banks in the Asia Pacific dropped 25% in 2023 from a recent peak of $40.6 billion in 2021, LSEG data showed. Photo: REUTERS HONG KONG: Job cuts at Western investment banks in Asia are expected to increase this year as revenue pressures rise due to deepening economic and […]

Chinese banks doing well despite turmoil: Yellen | The Express Tribune

MILWAUKEE: US Treasury Secretary Janet Yellen said on Friday that Treasury officials visiting Beijing recently received assurances that Chinese banks are “doing well” despite turmoil in the country’s financial and real estate markets, adding that she did not see large spillovers to the US economy at this stage. Yellen told reporters during a visit to […]

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