Money, Finance and Banking Blog in Pakistan
Posts tagged Investment
NIT Income Fund: Initial Offer Till Feb 19
Feb 18th
National Investment Trust (NITL) is in the process of launching an open end Income Fund. The new fund is in Fixed Income Category with the name of “NIT Income Fund.”
The fund will have following benefits:
- Tax benefits
- Minimum investment of Rs5,000
- Competitive returns
- Easily encashable
According to NITL’s website objective of NIT Income Fund is:
The objective of “NIT IF” is to generate competitive stream of return with moderate level of risk for its unit holders, by investing primarily in portfolio of fixed income securities with weighted average time to maturity not exceeding four (4) years.
In order to achieve its primary objective of generating competitive return More >
IGI Investment Bank Launches Wealth Management Services
Jan 17th
IGI Investment Bank Limited, part of the IGI Financial Services Group, has recently launched a comprehensive suite of Wealth Management services specifically designed for the needs of its high net-worth clients.
Individuals looking to invest will now have access to the resources and expertise of a financial group involved in businesses ranging from Investment Banking, Securities Brokerage, Insurance, Asset Management, etc., to provide them the best set of investment solutions from across the industry.
Investors will be assigned a Personal Wealth Manager, and a highly experienced Investment Committee which will oversee and review investment strategies that are carefully modified to meet the More >
Silkbank, Atlas Bank Fail to Raise Minimum Capital
Aug 6th
State Bank of Pakistan had required individual banks and DFIs to raise minimum paid up capital to Rs5 billion by the end of calendar year 2008 and Rs23 billion by the end of calendar year 2013 through it BSD Circular 19 on September 2005.
Atlas Bank Limited and Silkbank Limited (formerly Saudi Pak Commercial Bank Limited) had failed to raise the required level of paid up capital by the end of previous calendar year. Media reports suggest that these two banks were provided a special extension of seven months to meet the requirements by July 31, 2009.
In an economy growing at the More >
SBP to Provide Rs215 million to Microfinance Institutions
Jul 24th
State Bank of Pakistan (SBP) will provide Rs215 million under the institutional strengthening fund to the Pakistan Microfinance Network (PMN) and NRSP Microfinance Bank.
Under the arrangement, the SBP will provide Rs133 million to PMN over the next five years and Rs82 million to NRSP Microfinance Bank over a period of one year for promotion of microfinance services in the country.
In addition, Rs82 million have also been approved for Tameer Microfinance Bank over the next one year, the central bank said in a handout.
Senior officials of the SBP and the UK Department for International Development (DFID), who were present at the More >
Sindh Government to Establish Sindh Bank
Jun 18th
Sindh government has announced to establish the Sindh Bank, reports Online News Network. The announcement was made by Sindh Chief Minister Qaim Ali Shah on Monday, June 15, 2009, while unveiling provincial budget for the fiscal year 2009-10.
Sindh Bank (SB) will be a commercial venture, and the majority shares and the management will be held by the private sector. The bank would have a major component of micro finance and agriculture credit targeting farmers in rural Sindh and small enterprises in urban slums.
A decision to this effect had been taken last year, however, Mr Shah said, it was held back More >
