SECP provide relief to borrowers of Non-Bank Microfinance Sector

ISLAMABAD: The SECP’s permission to non-bank microfinance companies (NBMFCs) to reschedule the loan portfolio not only helped NBFCs to adjust their portfolio at risk but also resulted in extending  relief to 932,862 individuals and micro-enterprises who have borrowed over 17 billion rupees from non-bank microfinance companies (NBMFCs), as reported on… Continue reading

Issuance of PKR 200 bn Pakistan Energy Sukuk II – Islamic finance delivers another milestone transaction for Pakistan in difficult times

Meezan Bank, Pakistan’s first and largest Islamic bank has played a leading role in successfully concluding the issuance of Pakistan Energy Sukuk (PES) II worth approximately PKR 200bn by Power Holding Limited (PHL), a public sector entity fully owned by the Ministry of Energy and Government of Pakistan. The milestone… Continue reading

Prgmea Demands Gop for Extension in Cut-Off Date for submission of Incremental Claims of Duty Drawback of Taxes for Fy 2018-19 by 31st July 2020

Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) Central Chairman Sheikh Shafiq Jhokwala has demanded the Government for extension in cut-off date of submission of incremental claims of Duty Drawback on Taxes (DDT) for the year 2018-2019 from 31st May 2020 to 31st July 2020 to facilitate textile exporters to… Continue reading

Social distancing in business, commercial centers & Mosques is the only way to avoid COVID-19: Sadiq Mohammad

Karachi: Sadiq Muhammad, Chief Executive Officer, North Karachi Industrial Development & Management Company (NKIDMC), while expressing deep concern over non-compliance of social distance and violation of SOPs by the public in the presence of deadly disease of Coronavirus and declared extremely dangerous to precious human lives. In a statement, he… Continue reading

Easypaisa becomes ‘Eidipaisa’ in spirit of Eid-ul-Fitr

Easypaisa, Pakistan’s leading digital financial services platform, is joining its millions of customers across the country in sharing the blessing of Eid-ul-Fitr. The Easypaisa App now provides users with an Eidi feature that allows them to send personalized Eidi to all their loved ones throughout the country. The brand logo… Continue reading

Victoria’s Secret is closing a quarter of its stores

New York(CNN Business) Victoria’s Secret is permanently closing a quarter of its stores in the United States and Canada over the next few months. It’s another blow to the beleaguered retailer just weeks after its half-billion dollar plan to go private was scrapped. L Brands (LB), which owns the company, said… Continue reading