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Pakistan Times Today

Results for “Banks” (23)

Syeda Mubeena Hashmi Posted in Business

Pakistan Moves to Ease Pension Verification Process

ISLAMABAD: The finance ministry has removed commercial banks from the administrative process of verifying pensioners’ proof-of-life certificates, aiming to simplify pension payments. Under revised SOPs, Nadra will electronically transmit digital life signals to the Controller General of Accounts and Military Accountant General through a secure API. Banks will only disburse pensions and will not handle verification or biometric data. Pension accounts will also be exempt from dormancy requirements. Read More…

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Alina Hashmi Posted in World

Palestinians suffer as they find newly reopened banks have no cash

Palestinians in Gaza have been going through a shortage of cash as they are unable to spend what little money they have, with no cash in the banks. Banks began reopening on October 16, six days after the ceasefire was announced. Queues soon formed, but people came away disappointed. “There is no money, liquidity at the bank,” said father-o -six Wael Abu Fares, 61, standing outside the Bank of Palestine. “You just come and do paperwork transactions and leave,” the Palestinian told the Reuters news agency. Read More…

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Hafsa Mustafa Posted in World

White House to target banks as Trump claims discrimination

President Donald Trump said he believes that banks, including JPMorgan, and Bank of America, discriminate against him and his supporters, as he prepares to act against banks for allegedly dropping customers for political reasons. Donald Trump also said the country’s top two lenders had previously rejected his deposits, ramping up his attack on the industry. “They totally discriminate against, I think, me maybe even more, but they discriminate against many conservatives,” he told CNBC in an interview. Read More…

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Alina Hashmi Posted in World

Lebanon banks banned from dealing with Hezbollah's financial networks

Lebanon’s banks have been banned from dealing with financial networks linked to Hezbollah, according to a report. The Hezbollah-affiliated institutions include Al-Qard Al-Hasan Association, which has been providing compensation to residents affected by the latest war with Israel. Others are Tashilat SARL, Yousser Company and Bayt al-Mal. The decision, made by Lebanon's Central Bank, comes as Hezbollah, once a formidable militia and influential political party in Lebanon, is weakened significantly by months of conflict with Israel that destroyed much of its leadership and arsenal. Read More…

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Sanniah Hassan Posted in Business

Hajj Applications Open in Pakistan with New Payment Structure

Fifteen designated banks across Pakistan have begun accepting Hajj applications. Applicants must deposit an initial Rs. 200,000; a second installment is due post-balloting. The government Hajj scheme allocates 89,605 seats, including 5,000 for overseas Pakistanis under a sponsorship scheme requiring a one-time USD payment. The package covers airfare, meals, accommodation, training, and vaccination. Individuals with severe medical conditions and children under 12 are ineligible Read More…

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Hafsa Mustafa Posted in World

Two men charged with stealing famous Banksy artwork from London gallery

Two men have been charged with burglary over the theft of an artwork by street artist Banksy that was taken in a smash-and-grab raid on a London gallery. The Metropolitan Police force said Friday that Larry Fraser, 47, and James Love, 53, are alleged to have taken "Girl with Balloon" from the Grove Gallery on Sunday night. The suspects appeared at Wimbledon Magistrates’ Court on Thursday and were ordered detained until their next hearing on October 9. Read More…

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Hafsa Mustafa Posted in Uncategorized

Moody’s upgrades ratings of 5 Pakistani banks

International rating agency Moody’s on Saturday upgraded the ratings of five major Pakistani banks, citing improved economic conditions in the country. The long-term deposit ratings of the five banks have been upgraded from Caa3 to Caa2. The banks include Habib Bank Limited, National Bank of Pakistan, United Bank Limited, Allied Bank Limited, and MCB Bank Limited. Read More…

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Hafsa Mustafa Posted in World

Eight dead, two million affected by Bangladesh floods

The death toll from floods in Bangladesh this week has risen to eight, leaving more than two million affected after heavy rains caused major rivers to burst their banks, officials confirmed Saturday. The South Asian nation of 170 million people, crisscrossed by hundreds of rivers, has seen more frequent floods in recent decades. Climate change has made rainfall more erratic and melting glaciers upstream in the Himalayan mountains. Read More…

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Hafsa Mustafa Posted in World

Scores of people dead in western Kenya after dam collapses

At least 42 people have died when a dam burst its banks near a town in Kenya's Rift Valley, as heavy rains and floods battered the country. The dam burst on Monday near Mai Mahiu in Nakuru county, washing away houses and cutting off a road, with rescuers digging through debris to find survivors. "Forty-two dead, it's a conservative estimate. There are still more in the mud, we are working on recovery," said Nakuru governor Susan Kihika. Read More…

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Alina Hashmi Posted in Weather

Death toll from Indian Himalayan flash floods rises

At least 42 people were killed after a glacial lake burst its banks and triggered flash floods in the Indian Himalayas this week, govt officials said as rescuers kept searching for almost 150 missing. The Lhonak Lake in the mountainous northeastern state of Sikkim overflowed on Wednesday after a cloudburst triggered torrential rains and an apparent avalanche, causing major flooding in the Teesta river. It was one of the worst disasters in the region in more than 50 years and the latest in a series of extreme weather events. Read More…

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