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Tag Archives: financial

Technology revolutionizing the financial services

  Information and communication technologies (ICT) have brought about a revolutionary change in the financial sector. This revolution finds manifestations today in shape of innovative banking products and services such as Automated Teller Machines (ATMs), Internet banking, tele-banking and so on. The Internet, ATMs, POS devices and mobile phones are the examples of online banking technologies, which serve to deliver a set of banking services and are part of distribution …

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Financial literacy — need of the hour

Diaspora and migration Remittances are the most tangible and least controversial link between migration and development. Diasporas of various nations are mutually beneficial to both the sending and the receiving countries. They send home the money to help their families and friends, financially. And they often acquire advanced education and technical, professional and managerial skills and contribute to solving problems in their host nations. Given the right political and policy …

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EASYPAISA — revolutionizing the financial inclusion

  Addition of term deposits and credit facilities make Easypaisa Account a full service banking solution Commencing operations in 2009, Easypaisa is serving consumers including corporations and government projects with convenient, reliable and secure financial services. It is effectively bringing the unbanked population of Pakistan in the formal financial flow. Easypaisa remains at the forefront of empowering people through innovative, technologically driven and low cost financial services. New feat Pakistan’s …

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Foreign exchange market review: UK takes dominant role in global financial activities

  The foreign exchange market is a place where foreign money bought and sold. The buyers and sellers have claim on foreign money and the intermediaries together constitute a foreign exchange market. It is a market for a national currency (foreign money) anywhere in the world, as the financial centers of the world are united in a single market. The foreign exchange market is a large trade center for currencies. …

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Digital financial services can help grow women monetary means

  Despite encouraging advancements in the number of first time bank account holders, a startling gender gap persists in financial inclusion as a result of a variety of barriers to access across the developing world. Bringing women into the formal financial sector not only empowers them directly but also leads to welfare gains for the entire household and the community at large. This article lays out the empirical evidence linking …

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HBL opens first branch in western China

  Posts strong financial results for first quarter of 2016 Habib Bank Limited (HBL) has recently achieved a landmark in the banking history by becoming the first Pakistani bank to receive a license for opening a branch in Urumqi in Western China. The Bank expects that the branch will be operational by the end of the year and will further cement links with China. With ample liquidity and a sound …

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Islamic agricultural finance — An ideal product for the development of rural economy

  The agriculture sector lacks financial resources, due to which small-scale farmers are facing a lot of problems, consequently affecting the agriculture and livestock sector. But in Muslim countries including Pakistan, the primary reason behind the lack of financial inclusion in the agricultural sector is unavailability of such financial products that are in correlation with the religious and social belief of the Muslims and if we want to promote agriculture …

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Viable Islamic banking system – A respite for common man

  Many International Financial Institutions are keen to invest in the field of Islamic banking and finance in Pakistan In the face of growing demand for the Islamic banking products, different International Financial Institutions are showing interest to invest in the field of Islamic Banking and Finance in Pakistan. In the last three decades, a number of new Islamic financial products have been developed primarily by applying Islamic nominate contracts …

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Takaful penetration getting much appeal and gearing up

  Takaful is a Shariah-compliant alternative to conventional insurance. In the present age, the need and significance of insurance cannot be overlooked, but the present rules and practices utilized under insurance are against the teachings of Islam. Islamic scholars have presently deliberated over this matter for many years and devised the concept of Takaful. Takaful business is based on a huge pool of finances, where a great number of clients …

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