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Banking In Pakistan
Banking in Pakistan formally began during the period of colonialism in South Asia, during which much of Pakistan was controlled by the British Empire. History In 1947, Pakistan gained independence from the British Raj. After independence, the State Bank of Pakistan was established as the central bank of the country, with its headquarters in Karachi. Prior to independence, the Reserve Bank of India acted as the central bank for what became Pakistan. Under pressure from the International Monetary Fund, Pakistan implemented economic reforms in the late 1990s. These reforms included a $250 million World Bank loan for banking reform, which helped in loan recovery and reducing operational losses. Specialized banking courts were established to expedite the processing of pending loan recovery cases. Professional management structures and independent boards were introduced, resulting in workforce downsizing and branch closures to reduce costs. The State Bank of Pakistan gained autonomy, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colonialism
Colonialism is the control of another territory, natural resources and people by a foreign group. Colonizers control the political and tribal power of the colonised territory. While frequently an Imperialism, imperialist project, colonialism can also take the form of settler colonialism, whereby settlers from one or multiple colonizing metropoles occupy a territory with the intention of partially or completely supplanting the existing population. Colonialism developed as a concept describing European colonial empires of the modern era, which spread globally from the 15th century to the mid-20th century, spanning 35% of Earth's land by 1800 and peaking at 84% by the beginning of World War I. European colonialism employed mercantilism and Chartered company, chartered companies, and established Coloniality of power, coloniality, which keeps the colonized socio-economically Other (philosophy), othered and Subaltern (postcolonialism), subaltern through modern biopolitics of Heterono ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nawaz Sharif
Mian Muhammad Nawaz Sharif (born 25 December 1949) is a Pakistani politician and businessman who served as the 12th Prime Minister of Pakistan, prime minister of Pakistan for three non-consecutive terms, first serving from 1990 to 1993, then from 1997 to 1999 and later from 2013 to 2017. He is the longest-serving prime minister of Pakistan, having served a total of more than 9 years across three tenures. Each term has ended in his ousting. Sharif is currently serving as current Patron-in-Chief of Lahore Heritage Revival Authority since 16 March 2025. Born into the upper-middle-class Sharif family in Lahore, Nawaz is the son of Muhammad Sharif, the founder of Ittefaq Group, Ittefaq and Sharif Group, Sharif groups. Nawaz studied business at Government College University (Lahore), Government College and law at the University of the Punjab, University of Punjab. Nawaz entered into politics in 1981, when he was appointed by Zia ul Haq, President Zia as the Finance department, Punj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Pakistan
The following list contains all the notable banks in Pakistan. State Bank of Pakistan is the Central Bank of Pakistan. Systemically Important Banks Domestically Systemically Important Banks Source: * * Scheduled Banks Public Sector Banks Private Banks Public Sector Non-Schedule Banks # Bank of Azad Jammu and Kashmir Private Banks # Habib Bank AG Zurich (Parent of HabibMetro) # Silkbank (Subsidiary of United Bank Limited) Islamic banks Many Islamic Banks are working in Pakistan. The list of banks is given below: # Meezan Bank Limited # Soneri Mustaqeem Islamic Bank # Dubai Islamic Bank # Al Baraka Bank (Pakistan) Limited - Al Baraka Bank # Bank Alfalah Islamic # Bank Makramah Limited (BML) # BankIslami Pakistan Limited # Askari Bank Limited # MCB Islamic Banking # UBL Islamic Banking # HBL Islamic Banking # NBP Islamic Banking # Bank Al Habib Islamic Banking # Bank of Punjab Islamic Banking # Faysal Bank (Islamic) # HabibMetro (Sirat Islam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Pakistan
The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, consisting of four provinces and one federal territory. The territories of Gilgit-Baltistan and Azad Kashmir are also part of the country but have separate systems and are not part of the federation. Under the Constitution, there are three primary branches of a government: ''the legislative'', whose powers are vested in a bicameral Parliament; ''the executive'', consisting of the president, aided by the Cabinet which is headed by the prime minister; and ''the judiciary'', with the Supreme Court. Effecting the Westminster system for governing the state, the government is mainly composed of the executive, legislative, and judicial branches, in which all powers are vested by the Constitution in the Parliament, the prime minister an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shariah
Sharia, Sharī'ah, Shari'a, or Shariah () is a body of religious law that forms a part of the Islamic tradition based on scriptures of Islam, particularly the Qur'an and hadith. In Islamic terminology ''sharīʿah'' refers to immutable, intangible divine law; contrary to ''fiqh'', which refers to its interpretations by Islamic scholars. Sharia, or fiqh as traditionally known, has always been used alongside customary law from the very beginning in Islamic history; has been elaborated and developed over the centuries by legal opinions issued by qualified jurists – reflecting the tendencies of different schools – and integrated and with various economic, penal and administrative laws issued by Muslim rulers; and implemented for centuries by judges in the courts until recent times, when secularism was widely adopted in Islamic societies. Traditional theory of Islamic jurisprudence recognizes four sources for Ahkam al-sharia: the Qur'an, ''sunnah'' (or authentic ahadith) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a debtor or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay to the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit (economics), profit or Reserve (accounting), reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to debt, borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Riba
''Riba'' (, or , ) is an Arabic word used in Islamic law and roughly translated as " usury": unjust, exploitative gains made in trade or business. ''Riba'' is mentioned and condemned in several different verses in the Qur'an3:130 and most commonl 2:275-2:280 . It is also mentioned in many '''' (reports of the life of [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Shariat Court
The Federal Shariat Court (FSC) is a constitutional islamic religious court of the Islamic Republic of Pakistan, which has the power to examine and determine whether the laws of the country comply with Sharia law. The court was established in 1980 during the government of the President General Muhammad Zia-ul-Haq. It is located in the federal capital, Islamabad. It hears appeals under the Hudood Ordinances, a religious legislation in the country introduced in 1979. The Federal Shariat Court is the only authority which holds the constitutional power to prohibit and prevent the enactment of laws which are deemed to be un-Islamic by the parliament of Pakistan. It is predominantly focused on examining new or existing law of Pakistan. If a law violates the Quran, sunnah or hadith, the Shariat Court will prohibit its enactment. The current chief justice of Federal Shariat Court of Pakistan is Hameedur Rahman. Court structure and mandate It consists of eight Muslim judges ap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Terminal
A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization. A payment terminal allows a merchant to capture required credit and debit card information and to transmit this data to the merchant services provider or bank for authorization and finally, to transfer funds to the merchant. The terminal allows the merchant or their client to swipe, insert or hold a card near the device to capture the information. They are often connected to point of sale systems so that payment amounts and confirmation of payment can be transferred aut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Automated Teller Machine
An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff. ATMs are known by a variety of other names, including automatic teller machines (ATMs) in the United States (sometimes RAS syndrome, redundantly as "ATM machine"). In Canada, the term automated banking machine (ABM) is also used, although ATM is also very commonly used in Canada, with many Canadian organizations using ATM rather than ABM. In British English, the terms cashpoint, cash machine and hole in the wall are also used. ATMs that are Independent ATM deployer, not operated by a financial institution are known as "White-label ABMs, white-label" ATMs. Using an ATM, customers can access their bank deposit or credit accounts in order to make ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Penetration
Market penetration refers to the successful selling of a good or service in a specific market. It involves using tactics that increase the growth of an existing product in an existing market. It is measured by the amount of sales volume of an existing good or service compared to the total target market for that product or service. Market penetration is the key for a business growth strategy stemming from the Ansoff Matrix (Richardson, M., & Evans, C. (2007). H. Igor Ansoff first devised and published the Ansoff Matrix in the ''Harvard Business Review'' in 1957, within an article titled "Strategies for Diversification". The grid/matrix is utilized across businesses to help evaluate and determine the next stages the company must take in order to grow and the risks associated with the chosen strategy. With numerous options available, this matrix helps narrow down the best fit for an organization. This strategy involves selling current products or services to the existing market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
