Tagged: The Nation

IDB gives Pakistan 250m euro

IDB gives Pakistan 250m euro

<p>Pakistan will reportedly receive 250 million Euros from the Islamic Development Bank (IDB) in the ongoing month of August, which is part of 750 million Euros loan. Similarly, the country will also avail the trade facility of $150 million for import of fertilizer and Petroleum products this month. The Islamic Development Bank had agreed to the loan and the trade facility in a meeting between the President of the Islamic Development Bank, Dr. Ahmed Muhammad Ali, and Pakistan&rsquo;s Finance Minister Senator Ishaq Dar in Jeddah last week. Pakistan will also receive $500 million from Asian Development Bank and $500 million from World Bank in the second half (January-June) of the ongoing financial year 2013-14. Moreover, Pakistan is expecting to receive $3.4 billion from IMF during the current financial year. The loans will help building the foreign exchange reserves, which are currently around $10.25 billion.</p>
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<p><a href="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro" title="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro">http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/bu…</a></p>
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IDB gives Pakistan 250m euro

IDB gives Pakistan 250m euro

<p>Pakistan will reportedly receive 250 million Euros from the Islamic Development Bank (IDB) in the ongoing month of August, which is part of 750 million Euros loan. Similarly, the country will also avail the trade facility of $150 million for import of fertilizer and Petroleum products this month. The Islamic Development Bank had agreed to the loan and the trade facility in a meeting between the President of the Islamic Development Bank, Dr. Ahmed Muhammad Ali, and Pakistan&rsquo;s Finance Minister Senator Ishaq Dar in Jeddah last week. Pakistan will also receive $500 million from Asian Development Bank and $500 million from World Bank in the second half (January-June) of the ongoing financial year 2013-14. Moreover, Pakistan is expecting to receive $3.4 billion from IMF during the current financial year. The loans will help building the foreign exchange reserves, which are currently around $10.25 billion.</p>
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<div>Source:&nbsp;</div>
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<p><a href="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro" title="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro">http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/bu…</a></p>
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Emaan Islamic Banking officially launched

Emaan Islamic Banking officially launched

Emaan Islamic Banking, a division of Silkbank Limited, has been launched and is now available in 10 branches in 8 cities including Karachi, Lahore, Faisalabad and Islamabad. M. A. Mannan, Executive Director at Silkbank, said that currently, the Islami…

Burj Bank CSR initiative

Burj Bank CSR initiative

Burj Bank has launched an employee driven CSR initiative called “Giving beyond the Workplace Campaign”. As part of the programme, Burj Bank Employees along with the Senior Management team visited the TCF (The Citizen’s Foundation) Qayyumabad campus. Burj Bank members adopted one class each for the day where they spent their time in storytelling, book reading and educating the students about the importance of Earth Day. Moreover, Mr. Ahmed Khizer Khan, President & CEO of Burj Bank also presented a donation cheque from Burj Bank’s Charity Fund to Asaad Ayub Ahmad, President & CEO of TCF. This marked the beginning of a new relationship between the two organizations.

Dubai Islamic Bank reports Rs 501m profit

Dubai Islamic Bank reports Rs 501m profit

Dubai Islamic Bank Pakistan Limited has reported a year end profit before tax of Rs501 million. Furthermore, a 38 per cent deposit growth was achieved in comparison to 2011, taking total deposits to Rs53.11 billion in 2012. DIBPL’s asset base rose by 32% in contrast to 2011 increasing the asset base to Rs63.5 billion in 2012. The Bank’s investments grew substantially by 65% over the year, taking total investments to Rs21.33 billion.DIBPL opened 25 new branches in 2012, increasing the total branch network to 100 in 35 cities. The Bank added over 20,000 more customers in 2012, taking full customer base to over 100,000.

Beef-noodle franchise to sue Islamic Bank manager

Beef-noodle franchise to sue Islamic Bank manager

The company owning the “Chaichana Halal” beef-noodle franchise has filed a lawsuit against Islamic Bank of Thailand manager Thanin Angsuwarangsi at Bangkok’s Ratchadapisek Criminal Court yesterday. This was after the manager allegedly failed to approve…

Islamic banking facing regulatory challenges

Islamic banking facing regulatory challenges

The Takaful industry is growing but also facing certain challenges which include issues regarding re-Takaful, regulatory challenges, competition and lack of human capital. In order to overcome all these challenges and issues, Al Huda CIBE established a…

‘Past negligence’ saddles Islamic Bank

‘Past negligence’ saddles Islamic Bank

Former executives of the Islamic Bank of Thailand who did not adequately pay attention to cash flow, collateral value and monitoring, are to be blamed for the high amount of bad dept at IBank, according to its new president Thanin Angsurarangsit. Non-p…