SBP issues Rs10 coin
By our correspondent
KARACHI: The State Bank of Pakistan (SBP) on Monday issued Rs10 coin through the exchange counters of all the field offices of the SBP Banking Services Corporation.
The federal government through a notification authorised the SBP to issue Rs10 regular coin, SBP chief spokesman said. He said the coin has been issued through the exchange counters of all the field offices of the SBP Banking Services Corporation from October 24,.
The coin is yellow in colour and round with serrations on the edge and a diameter of 25.5mm. It weighs 5.50 grams, he added.
Coca-Cola Pakistan to receive award
News Desk
KARACHI: Coca-Cola Pakistan has been selected by the Rotary International for the “Rotary Responsible Business Partner” award, to be given on Rotary Day at the United Nations in New York in early November, in recognition of its support to Rotary’s End Polio Now campaign in Pakistan.
Coca-Cola Pakistan is one of only two companies shortlisted for this honour of the 20 nominations from all around the world, and a company from Pakistan has secured this award for the first time ever. Rotary Day at the United Nations is an annual, high-profile event where more than 1,500 Rotary members, UN officials, NGO leaders and guests gather at the UN Headquarters to learn about and discuss humanitarian challenges, while recognising and celebrating the positive impact Rotary, partner companies like Coca-Cola Pakistan and others are making in the world today. This year’s event will focus on Economic and Community Development with the title, ‘Responsible Business, Resilient Societies’.
Schwabe Germany seminar on 28th
News Desk
GUJRANWALA: World’s largest manufacturer of homoeopathic and biochemic medicines Dr Willmar Schwabe, Germany is holding a seminar on Friday, October 28, 2016 in Gujranwala, in collaboration with the Daily Jang, a statement said.
Renowned homoeopathic practitioners will speak at the seminar on various topics related to the benefits of homoeopathy and the efficacy of homoeopathic medicines, it said.
Schwabe seminars are being regularly held in different cities of Pakistan for the last several years. A large number of homoeopathic practitioners, professors and students of homoeopathy and those associated with the trade of homoeopathic medicines attend these seminars. Schwabe seminars are co-hosted by Schwabe Partners in Pakistan, Dr Hamid General Homoeo (Pvt.) Ltd. and Darul Adviat.
SECP holds roundtable on reforms
By our correspondent
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) Monday organised a roundtable on proposed reforms in the insurance regulatory framework.
The representatives of insurance companies, insurance brokers, associations of insurance surveyors, Pakistan Societies of Actuaries, and the Institute of Chartered Accountants of Pakistan (ICAP) attended the roundtable, said a statement. ICAP Council Member and Chairman of the subcommittee on insurance, Farrukh Rehmanandan emphasised the need for upgrading the insurance law to bring it in line with the best international practices. SECP Insurance Division executive director gave an overview of the insurance industry in Pakistan and briefed the audience on the proposed amendments.
Hassle-free pension disbursement
News Desk
KARACHI: In pursuit of its mission to empower society and simplify everyday transactions, Bank Alfalah’s registration of EOBI pensioners, which started in May, is underway with the pensioners beginning to withdraw their pensions through ATMs with ease, a statement said on Monday. Bank Alfalah’s collaboration with EOBI is aimed at helping pensioners withdraw their monthly disbursements through Bank Alfalah EOBI Debit cards with absolute convenience, it said.
JS sponsors Street Store Campaign
News Desk
KARACHI: JS Bank, as part of their corporate social responsibility, supported the 505th Street Store Campaign initiative in association with Bay View College, a statement said Monday.
The Street Store Campaign is a worldwide initiative that takes place globally, and originated from South Africa in 2014. It involves the opening of popup stores offering free clothes and shoes for the homeless, serving as a great message in bridging the gap between the rich and poor.
The 505th Street Store took place at the artistic location of the Commune in Miskeen Gali Karachi, welcoming a huge number of volunteers who helped out during this event.
BankIslami gross profits at Rs1.006bln
News Desk
KARACHI: BankIslami Pakistan Limited has posted a profit before tax of Rs 1.006 billion for the nine months ended on September 30, 2016. The Bank recorded an increase of 6.87 percent in deposits, from the same period last year, which crossed Rs155 billion.
The asset base has grown significantly and closed at Rs192.8 billion, denoting an increase of 6.78 percent from the same period last year. The bank's deposit mix has also improved, which constituted 70.53 percent of the current and saving Accounts, due to which the cost of fund has declined by 154bps.
Soneri Bank announces Q3 profits
News Desk
KARACHI: Soneri Bank Limited reported gross profit of Rs. 2.620 billion and net profit of Rs 1.542 billion for the nine months ended 30 September 2016. During the period deposits grew by 9.04 percent, closing at Rs.201.97 billion (December 2015: Rs.185.22 billion).
Net advances were down by 11.96 percent to Rs.98.61 billion (December 2015: Rs.112.00 billion) due to seasonal factors. Bank’s net assets (including surplus) amounted to Rs.18.26 billion as at 30 September 2016.