Islamabad—Pakistan and Turkey here on Thursday
in principle agreed to initiate the Pak-Turkey
Free Trade Agreement (FTA) negotiations to
enhance bilateral trade of US $ 2 billion
bilateral trade volume target, which could be
realized by the end of 2012. A Memorandum of
Understanding to this effect was agreed at the
conclusion of the two-day 13th session of
Pak-Turkey Joint Ministerial Commission (JMC)
held here on October 14-15.
Islamabad—The Asian Development Bank (ADB) has
signed trade financing agreements with four
Pakistan banks. The agreements with Bank Alfalah
Limited, Faysal Bank Limited, Habib Metropolitan
Bank Limited, and United Bank Limited follow
similar agreements signed in mid May with five
other Pakistan banks. The agreements should help
direct much-needed finance to exporters and
importers in the South Asian nation.
Islamabad—Telenor Pakistan and Tameer
Microfinance Bank together have announced the
launch of easypaisa, a uniquely convenient and
safe way for everyone to carry out financial
transactions. easypaisa users will have the
freedom to make bill payments and send and
receive money at thousands of outlets and in
addition manage their bank accounts over their
mobile phones. easypaisa combines the best from
the financial and mobile sectors, offering the
first branchless banking solution of its kind in
Pakistan and neighboring countries.
Islamabad—In the wake of four terrorists’
attacks during last week there has been some
impact on the stock market bull run that has
gained 20 pc in last two months (65% rise YTD in
2009). These militant attacks look like an
apparent campaign to deter a planned army
offensive against Taliban strongholds in the
country’s Waziristan region along the Afghan
border.
Karachi —Only 26 million bank deposits and 7
million borrowers Have access to banking
facility out over 170 million plus population
indicating a huge market yet to be tapped by the
banking system. Speaking at the inauguration of
branchless banking product ‘Easy Paisa’ - a
joint effort of Tameer Microfinance Bank and
Telenor Pakistan - SBP Governor Syed Salim Raza
said that developing an inclusive financial
sector is a top policy priority area for the
State Bank.
