KARACHI: In a bid to strengthen the microfinance sector in Pakistan and promote financial inclusion, U Microfinance Bank (U Bank) and Bank Alfalah Limited have entered into a strategic partnership to collaborate on a short-term financing facility of PKR 10 billion. The facility will enable U Bank to expand its outreach and offer a range…
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Bank Alfalah partners with Paymob to drive digital payment acceptance in Pakistan
LAHORE, PAKISTAN: Bank Alfalah in Pakistan has partnered with Paymob, MENA’s market-leading digital payments provider. The two organizations have collaborated to activate and support merchant acquisition and integration services across Pakistan. The partnership will empower over 100,000 merchants across Pakistan and launch new innovative services in e-commerce acceptance for online merchants. This partnership records Paymob’s…
Bank Alfalah posts growth in deposits and consumer lending
KARACHI, PAKISTAN: Board of Directors of Bank Alfalah Limited in its meeting held on August 25, 2021, approved the Bank’s unaudited condensed interim financial statements for the half year ended June 30, 2021. The first half of 2021 has been a period of remarkable growth for the Bank. Profit after taxation increased by 24.2% and…
Bank Alfalah joins the race for Silkbank’s consumer portfolio
KARACHI: Bank Alfalah Limited (BAFL) has approached Silkbank Limited seeking its concurrence to BAFL to apply to State Bank of Pakistan to proceed with the due diligence for the consumer portfolio of Silkbank Limited. Silkbank Limited has already accorded in-principle approval to Habib Bank Limited (HBL) to conduct due diligence for the same. Fauji Foundation…
Bank Alfalah and Beaconhouse Group sign MoU for personal loan financing solutions
LAHORE: Bank Alfalah and The Beaconhouse Group – one of Pakistan’s largest private school networks – have signed a memorandum of understanding (MoU) to facilitate personal loan financing solutions for the employees of the Beaconhouse School System. The agreement was developed to make Bank Alfalah’s diverse range of quick and affordable financing solutions available to…
PSX lists first shelf registered instrument issued by Bank Alfalah
KARACHI: In a very encouraging development for the debt market of Pakistan, an innovative, new debt instrument has been issued and listed on Pakistan Stock Exchange (PSX) by Bank Alfalah (BAFL), a news release said. Bank Alfalah has issued Medium Term Note in the form of Term Finance Certificates (Tranche Series-A) of PKR 11,000 million…