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Finance & Market

Plan for Islamic products for national saving scheme under consideration

  A truly Shariah-compliant product is a must for the Islamic banking model to be sustainable While the Islamic Banking industry in Pakistan has been growing at a fast pace ever since its re-launch in 2002, the government is making all out efforts to develop an alternate system for all segments of the banking industry. Official sources claimed that a plan of Islamic products for National Saving Scheme (NSS) is …

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Go shopping, go plastic — credit card galore

  The Chicago-School Economists’ guru Milton Friedman and his disciples started to storm the White House in Reagan era. They brought with them the recipe to counter stagflation – a situation when the US economy remained stagnant in spite of rising prices. The recipe for the government was: increase money stock, cut interest rate, and make credit as easy and abundant as possible. For American people the message was: go …

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HBL the safest bank in Pakistan for global finance

  Presently, Habib Bank Limited (HBL) had proclaimed its contract with Barclays Bank PLC to acquire Barclays banking business in Pakistan. This acquisition was accepted through the State Bank of Pakistan (SBP) and from June 15, 2015 the country business of Barclays Bank PLC has been amalgamated with and into Habib Bank. HBL now has worldwide footprints in 29 states counting China. Habib Bank works intimately with institutions such as …

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Pakistan’s banking sector opening up to get rewards

  Pakistan’s banking sector reforms which were started in the early 1990s have transformed the sector into a well-organized, strong and sound banking system. It is playing a significant role in economic development and setting a performance status of the state. Still it needs to play a larger role in mobilizing local’s savings, which are critical to grow its entire investment stages. State Bank of Pakistan needs to make sure …

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The limelight of Islamic funds management and growth

  Islamic funds have actually provided a window to a number of individuals, who were previously reluctant to invest because of their religious beliefs. In adherence with principles of Shariah compliance these funds and their usage play key role in the global economy, covering the financial needs of the currently underserved Muslim population. Unfortunately, this Islamic financing are facing numerous challenges for its growth in the country and still at …

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SECP’s online payment facility through credit cards gaining popularity abroad

  Bank Alfalah launches visa corporate credit cards The Securities and Exchange Commission of Pakistan (SECP)’s online fee submission facility, launched this year has gained currency and now the Commission has been regularly receiving fee through credit cards from various countries such as Belize, Hong Kong, Netherlands, Saudi Arabia, Singapore, UAE, UK and USA. The SECP introduced the facility for online payment of fee through credit cards in its eServices …

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Credit Cards — benefits and risks for banks and consumers

  Credit cards promote the concept of plastic money whereby a user can purchase any product or service without having to carry cash. Credit cards allow secure method of payment online. Large payments e.g. fridge, television, furniture, airline tickets, expenses on international travel are done through credit cards. Through the usage is quite prevalent in Western markets where credit cards have replaced currency altogether, in Pakistan credit cards are seen …

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Productive use of credit cards is an art

  Standard chartered makes it digitally innovative Credit cards — in fact a way of borrowing and looks attractive when one goes to have one for purchasing goods and obtaining other services but however the attraction of the card evaporates as soon as it piles up the debt beyond ones capacity to payback. It is a facility to be used productively for the good of the holder and not to …

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Overview of Pakistan federal budget 2015-16

  The latest federal budget for the fiscal year 2015-2016 has been recently revealed out of which the outlay is 91 per cent higher than what was revised earlier in the fiscal year. The Finance Minister, Mr. Ishaq Dar presenting the budget 2015-16 to the National Assembly claimed that the budget does include measures with respect to employment, improving the exports of the country as well as focusing on helping …

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Post budget analysis: impact on sectors

  The government has announced the budget for the year 2015-16 which is being met with mixed reviews. Some believe that the budget will increase inflation there by squeezing the middle class while others have their own opinion on each of the economic sectors. In addition, this year’s tax has brought in some of new sectors under the tax net. Summary of the budget for 2014-15 and key features with …

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