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Park View Enclave (Private) Limited has initiated legal action in the Sindh High Court in Karachi against the proposed amalgamation of Silkbank Limited and United Bank Limited (UBL). This development adds a new layer of complexity to the anticipated merger between the two financial institutions. According to a statement released by Park View Enclave, the […]
Recently, Meezan Bank has come under scrutiny as customers report unauthorized high-value transactions on their debit and credit cards. Despite the bank’s assertion that its systems remain secure and no data breach has occurred, affected customers are raising concerns about potential vulnerabilities. Users have reported losses ranging from Rs1.4 million to Rs2.1 million, with transactions […]
United Bank Limited (UBL) has approved its merger with Silk Bank Limited (SBL) through a share swap agreement, as announced in a disclosure to the Pakistan Stock Exchange (PSX) on Tuesday. The decision was made during UBL’s 252nd Board of Directors meeting on December 2, 2024. Under the merger plan, each UBL share will be […]
Mufti Taqi Usmani, a prominent Islamic scholar, has affirmed that profits earned from deposits in Pakistani Islamic banks are halal or permissible under Islamic law. This statement aims to reassure Muslims concerned about the legitimacy of Islamic banking in Pakistan. According to Mufti Usmani, these banks operate in compliance with Sharia principles, ensuring that all […]
Pakistani banks have recently launched blockchain technology to fight against money laundering. The move comes as a response to the increasing concerns around financial crimes, including money laundering and terrorist financing, which have been on the rise in the country. Achieving the huge milestone, Abid Qamar, the spokesperson of the State Bank of Pakistan (SBP) […]
