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MUFG TESTS BLOCKCHAIN BONDS
AI summaryMitsubishi UFJ Financial Group is initiating a proof-of-concept project to explore the settlement of Japanese government bonds on a distributed ledger network. The initiative utilizes the Canton network to evaluate onchain execution for sovereign debt instruments.
NEW SCBPL CEO APPROVED
AI summaryStandard Chartered Bank (Pakistan) Limited announced that Adil Salahuddin will officially assume the position of Chief Executive Officer on August 13. The transition follows regulatory clearance from the State Bank of Pakistan.
HBL ISLAMIC HAJJ 2027 PARTNER
AI summaryPakistan's Ministry of Religious Affairs and Interfaith Harmony has appointed HBL Islamic as the exclusive banking partner for the Hajj 2027 pilgrimage. The financial institution will collect pilgrimage fees through a dedicated Shariah-compliant account while integrating digital payment solutions via the ministry's web portal.
SBI DOLLAR BOND SALE
AI summaryState Bank of India is tapping the foreign currency debt market for the first time in nearly a year with a proposed five-year dollar bond issue. The transaction, managed through the lender's London office, comes as Indian financial institutions capitalize on reduced overseas borrowing costs following recent central bank policy measures.
BANKISLAMI NEW BOARD CHAIR
AI summaryBankIslami Pakistan Limited has selected Shahid Hussain Jatoi to lead its Board of Directors for a three-year term starting August 10, 2026. The financial institution also confirmed that President and CEO Rizwan Ata will remain in his role until late September 2026.
RS30B BOP SHARE ISSUE
AI summaryThe Bank of Punjab has notified the Pakistan Stock Exchange regarding a proposed non-rights ordinary share issuance to the Government of Punjab valued at up to Rs30 billion. The equity subscription will take place across two phases scheduled for completion by mid-2027, subject to necessary approvals.
MEEZAN TOPS RS 3.05BN
AI summaryMeezan Bank has reached a cumulative disbursement of over Rs 3.05 billion under the federal government's subsidized GHTA housing initiative. The development reflects expanding uptake of Shariah-compliant mortgages intended to expand homeownership among low- and middle-income families.
DAILY PRIZE BOND SETTLEMENTS
AI summaryThe State Bank of Pakistan has directed commercial banks across the country to clear and settle all prize bond transactions on a daily basis. The regulatory measure is designed to remove administrative delays and enhance cash-flow tracking within the banking network.
MCB PROFITS HIT RS28.1B
AI summaryMCB Bank Ltd posted a consolidated net profit of Rs28.1 billion for the half-year ending June 30, supported by steady growth in net interest earnings. The financial institution's board approved an interim dividend of Rs9 per share, pushing cumulative payouts for the cycle to Rs18 per share.