SBP Issues License to U Microfinance Bank, Owned by Ufone
Ufone gets the license for the operations of U Microfinance Bank (formerly Rozgar Microfinance Bank Limited) from State Bank of Pakistan to launch branchless banking in future. Arif Sirhindi is appointed as the president and CEO of U Microfinance Bank. Mr. Arif has a rich experience of consumer banking with various banks including Askari Bank, […]
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Internet and Mobile-Banking Shares Remains Thin: SBP
Despite of the fact, the financial transactions though internet-banking and mobile-banking have witnessed significant growth in terms of volume and value in the past few years, the share of these two modes of payments are still standing at 2 and 1 percent in overall electronic-banking system. The Payment System Review released by State Bank of […]
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Innovative Financial Services Essential for Economy: SBP
Governor State Bank of Pakistan Yaseen Anwar said, ” The improved services for innovative financial inclusion for survival and prosperity of poor masses in the country.” Speaking as Chief Guest t Mobile Commerce Conference held ion Thursday, he said that SBP sees mobile commerce as a great opportunity for multiple stakeholders in Pakistan. PTA and […]
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3G Auction may Attract $1 Billion: Said by Governor SBP
The auction of 3G license in Pakistan can attract more than one billion dollars as against a minimum target of $850 million, resulting positive impacts on economy mainly to contain a widening fiscal deficit of the country, it was said by Governor – State Bank of Pakistan (SCB) Mr. Yaseen Anwar. In a press conference […]
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3G Licences Sales Must for Containing Fiscal Deficit: SBP
In quarterly report by State Bank of Pakistan (SBP) said that without sale of 3G licences (around 150 billion) would be difficult for the government to contain fiscal deficit. In the report released on Thursday, the SBP said, ” the budget deficit for the first quarter 2011-12 was 1.2 percent of GDP, compared with 1.5 percent […]
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