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Karachi, June 14, 2016 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has revised the entity ratings of First National Bank Modaraba (FNBM) from ‘A/A-1’ (Single A/A-One) to ‘BBB+/A-3’ (Triple B Plus/A-Three). Outlook on the assigned ratings is ‘Negative’. The previous rating action was announced on July 06, 2015. Over the last five years, equity base of ...
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State Bank of Pakistan formulates Product Disclosure Requirements for all types of Personal, Housing and Auto Finance products
Karachi, June 14, 2016 (PPI-OT):In order to help consumers to make informed decisions and enhance their confidence in financial products, the State Bank of Pakistan has formulated Product Disclosure Requirements (PDRs) for all types of Personal, Housing and Auto Finance products. Banks/Micro Finance Banks (MFBs) are required to invariably provide an upfront ‘Product Key Fact ...
Read More »Punjab Board of Investment and Trade and Cheezmall to collaborate on e-commerce initiatives
Lahore, June 14, 2016 (PPI-OT):A Memorandum of Understanding (MOU) was signed on Saturday between the Punjab Board of Investment and Trade (PBIT) and a Chinese company, Cheezmall Private Limited. PBIT CEO Ms Amena Cheema was joined by Cheezmall CEO Aurangzeb Khan and his associates for the signing ceremony. Based in Shanghai, Cheezmall is an online ...
Read More »Ease of doing business: Securities and Exchange Commission of Pakistan amends Non-Banking Finance Companies Rules and Non-Banking Finance Companies and Notified Entities Regulations
Islamabad, June 14, 2016 (PPI-OT):In light of strong determination of the Commission to promote “ease of doing business” in all the areas under its ambit, SECP has approved draft amendments in Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 and Non-Banking Finance Companies and Notified Entities Regulations, 2008 for smooth transition of Micro Finance Institutions ...
Read More »Ministry of Commerce starts thorough review of all the trade pacts
Islamabad, June 14, 2016 (PPI-OT):The Ministry of Commerce has started a thorough review of all the trade pacts through which Pakistan conducts its trade on preferable terms with other countries on bilateral basis. The review will be conducted through multiple means of stake-holders’ consultations and the analysis of trade data available. This will help provide ...
Read More »Pakistan enjoys friendly and cordial relationship with France: President Mamnoon Hussain
Islamabad, June 14, 2016 (PPI-OT):President Mamnoon Hussain has said that Pakistan enjoys friendly and cordial relationship with France adding in this regard that it is necessary to maintain close contacts with the French opinion and policy makers to further deepen the ties. The President said this while talking to Ambassador-designate of Pakistan to France Moin ...
Read More »People should be motivated to donate blood: Jam Mehtab Hussain Dahar
Karachi, June 14, 2016 (PPI-OT):Provincial Minister for Health Jam Mehtab Hussain Dahar has said that many human lives can be saved if a large number of people specifically young people […]
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