Latest news with #Asaan
Business Recorder
4 days ago
- Business
- Business Recorder
In-store and online merchants: SBP advises banks, REs to offer digital payment solutions
KARACHI: The SBP has issued the consolidated framework for customer onboarding and advised banks and regulated entities (REs) to provide digital payment acceptance solutions to their customers engaged in instore and/or online business/trade activities. New customer onboarding framework aims to simplify and standardize the account opening process and rationalize the documentary requirements along with the enablement of digital and convenient interfaces for account opening across different customer touch points. The SBP has advised REs to ensure that the turnaround time for new account opening does not exceed two days for general public. Digital payments thriving in Pakistan: Q3 sees 2bn transactions: SBP Customers should also be able to track the status of their account opening applications, making the process transparent and customer friendly. These measures are in continuation of SBP's efforts to enhance financial inclusion and improve customer convenience. In recent years, the SBP has introduced branchless banking accounts, Asaan accounts, digital onboarding, and specialized account categories for freelancers, recipients of home remittances and overseas Pakistanis. Making the customer onboarding process more convenient, safe and efficient, customers will now be able to open all types of accounts through digital means. Further, to facilitate the merchants in acceptance of payments digitally, SBP has advised its REs to equip all merchants-both new and existing – with at least one of the digital payment acceptance solutions such as Raast QR code, Point of Sale (POS), e-commerce/Raast checkout to facilitate customers' digital payments for in-store and/or online purchases. To facilitate the onboarding of small merchants and enabling them with low-cost digital payment acceptance points, SBP has advised its REs to categorize the merchants as micro, small, and registered merchants. Merchants who have opened accounts/wallets (Asaan Account, EMI wallets & Regular accounts)as natural persons shall be categorized as 'micro merchants' with monthly transaction and account/wallet balance limit up to PKR 2,000,000/- (separately for debit and credit) and PKR 3,000,000/- respectively. Merchants who have opened accounts/wallets as a non-registered entity (sole proprietor or unregistered partnership) shall be categorized as 'small merchants'. In addition, merchants registered/incorporated with the relevant authorities shall be treated as 'registered merchants'. Furthermore, in the case of existing merchants' accounts/wallets, REs shall ensure deployment of at least one digital payment acceptance solution including Raast QR code by October 31, 2025. The SBP believed that these initiatives will further improve the regulatory environment for mainstreaming the excluded individuals and businesses into banking system and digitizing the existing large-scale cash-based persons-to-merchants payments. Besides, the framework also provides strong regulatory safeguards aligned with international best practices. Copyright Business Recorder, 2025
Business Recorder
09-07-2025
- Business
- Business Recorder
Habib Metropolitan Bank declares rates of profit on PLS deposits
KARACHI: Habib Metropolitan Bank Limited has declared rates of Profit on various types of PLS Deposit for the period of six months ended on June 30,2025. ============================================================================================= Jan 01,2025 to Feb 01,2025 to Jun 01,2025 to Jan 31,2025 May 31,2025 Jun 30,2025 --------------------------------------------------------------------------------------------- Saving Deposit - Individuals only 11.50% 10.50% 9.50% Saving Deposit - Financial Inst.,PSE & Pubic Limited Co. 9.00% 8.50% 8.00% Habib Metro Multiplier Accounts 11.50% 10.50% 9.50% Habib Metro Asaan Account - Saving 11.50% 10.50% 9.50% Asaan Digital Savings Account 11.50% 10.50% 9.50% Asaan Digital Remittance Saving Account 11.50% 10.50% 9.50% Freelancer Digital Saving Account 11.50% 10.50% 9.50% Habib Metro Ladies Savings Account 11.50% 10.50% 9.50% Habib Metro Rozana Munafa Savings Account 11.50% 10.50% 9.50% Roshan Digital Account (NRP Rupee Value Account-Saving) 11.50% 10.50% 9.50% --------------------------------------------------------------------------------------------- Jan 01,2025 to Feb 01,2025 to Jun 01,2025 to Jan 31,2025 May 31,2025 Jun 30,2025 --------------------------------------------------------------------------------------------- Habib Metro Saving Plus Account - Individuals onlyUpto Rs. 250,000/- 11.50% 10.50% 9.50% Over Rs. 250,000/- 11.50% 10.50% 9.50% Habib Metro Privilege 55 Plus 12.00% 11.00% 10.00% Habib Metro Junior Saver Accounts 11.50% 10.50% 9.50% --------------------------------------------------------------------------------------------- Jan 01,2025 to Jun 30,2025 --------------------------------------------------------------------------------------------- SNTD 7 days 7.00% 30 days and over 7.00% Term/Fixed Deposits 1 Month 7.00% 3 Months 7.10% 6 Months 7.15% 1 Year 7.25% 2 Years 7.00% 3 Years 7.50% 4 Years 7.75% 5 Years 8.00% ------------------------------------------------------------------ Habib Metro Izafa Certificate ------------------------------------------------------------------ Jan 01,2025 to ------------------------------------------------------------------ Jun 30,2025 10.00% (10 Years) ------------------------------------------------------------------ Habib Metro Bharppor Munafa Scheme ------------------------------------------------------------------ Jan 01,2025 to Jun 30,2025 7.25% (1 Year) ------------------------------------------------------------------ Habib Metro Mahana Scheme ------------------------------------------------------------------ Jan 01,2025 to Jun 30,2025 1 Year 7.00% 2 Years 6.50% 3 Years 6.75% 4 Years 7.00% 5 Years 7.25% ------------------------------------------------------------------ Habib Metro Premium Deposit Scheme ------------------------------------------------------------------ Jan 01,2025 to Jun 30,2025 ------------------------------------------------------------------ QTR HY YR ------------------------------------------------------------------ 1 Year 7.10% 7.20% 7.25% 2 Years 6.75% 6.80% 7.00% 3 Years 7.00% 7.25% 7.50% 4 Years 7.25% 7.50% 7.75% 5 Years 7.50% 7.75% 8.00% -PR ================================================================== Copyright Business Recorder, 2025
CairoScene
19-06-2025
- General
- CairoScene
Zaha Hadid Architects Begin Mud-Brick Asaan Museum Project in Diriyah
Zaha Hadid Architects Begin Mud-Brick Asaan Museum Project in Diriyah In the sunbaked heart of Diriyah, where mud-brick silhouettes rise from the desert like echoes of centuries past, a new architectural landmark is taking shape. Zaha Hadid Architects have broken ground on the Asaan Museum, a project that reimagines the relationship between heritage and contemporary design within Saudi Arabia's UNESCO-listed At-Turaif district. Asaan is conceived as a cultural anchor and a testament to architectural innovation. Its name, derived from the Arabic word for 'inheritance passed down through generations,' is reflected in every aspect of the design. Marking Zaha Hadid Architects' first-ever mud-brick construction, the museum is built from locally sourced clay bricks, a deliberate homage to the Najdi building traditions that have defined the region for centuries. The design demonstrates a nuanced sensitivity to context: thick, low-carbon mud-brick walls provide natural insulation, ensuring cool interiors and reduced energy consumption in the desert climate. Central to the museum's spatial experience are three shaded courtyards, dedicated to Education, Arts, and Administration each. These courtyards serve as climatic buffers and vibrant gathering spaces, sheltered beneath a network of canopies that weave together gardens, plazas, and rooftop promenades. This approach blurs the boundaries between interior and exterior, forging a seamless connection to Diriyah's historic urban fabric and inviting the public to engage with the museum on multiple levels. Inside, the Asaan Museum offers more than static displays. Visitors will encounter exhibitions, workshops, and conservation laboratories, all designed to safeguard and celebrate Saudi Arabia's archaeological treasures for future generations. Supported by the Misk Foundation and integrated into the ambitious Diriyah Gate masterplan, the museum aspires to be a hub for cultural exchange and education, a place where tradition and innovation meet. While Zaha Hadid Architects' signature fluidity is present, it is thoughtfully grounded by the tactile honesty of mud-brick, the very material that built Diriyah's past - and now, lays the foundation for its future.
Business Recorder
11-06-2025
- Business
- Business Recorder
FBR will notify categories ineligible for bank accounts
ISLAMABAD: The Federal Board of Revenue (FBR) will notify category of persons, who will not be able to open new bank accounts or operate existing bank accounts under the Finance Bill 2025-26. In the Finance Bill 2025-26, it is proposed that a banking company shall not open or maintain an already opened current or saving account or investor portfolio security account except Asaan account or pensions account in the name of such person as notified by the board. It is further proposed that the banking company shall not allow cash withdrawals from any of the bank accounts of any person exceeding the amount as may be notified by the board from time to time. Both the proposed amendments will be applied through a notification specifying the persons who cannot open or maintain bank account. Similarly, a threshold would be notified for withdrawal of cash from the bank by any person. Under the Finance Bill 2025-26, Section 114C is proposed to be inserted in the Income Tax Ordinance, 2001, whereby, restrictions would be placed on economic transaction by certain persons. Only eligible persons and their immediate family members would be able to purchase vehicles and property, whereas, ineligible persons will not be able to do so. The provision would be applicable from a date to be notified by the federal government and on the threshold of the transaction on which the restriction would be applicable. The eligible person has been defined within the proposed section and means a person who has filed return of income for the tax year immediately preceding the tax year of transaction and has sufficient resources in the wealth statement in the case of an individual, or financial statement in the case of a company or an Association of Persons, as the case may be for such transaction. Copyright Business Recorder, 2025
Business Recorder
20-05-2025
- Business
- Business Recorder
Cattle markets in Pakistan: State Bank launches ‘go cashless' campaign
KARACHI: The State Bank of Pakistan (SBP) has initiated a nationwide 'go cashless' campaign to promote digital payments and reduce reliance on cash transactions within cattle markets during the upcoming Eid-ul-Azha. This strategic initiative, in line with SBP's goal of fostering digital financial inclusion throughout Pakistan, was officially launched today, May 20, 2025, and will run until June 6, 2025, or Eid night. In partnership with the banking industry, the campaign aims to streamline the sale and purchase of sacrificial animals in 54 designated cattle markets across the country. Following the success of last year's digitalization efforts, this year's campaign seeks to further expand digital adoption among market participants. Within these cattle markets, digital payment solutions can be utilized for various transactions, including the purchase of sacrificial animals, payment for necessities such as water and feed, and settlement of parking fees. To support both merchants and buyers during this period, the SBP has temporarily raised transaction limits, effective from May 19 to June 15, 2025, Branchless Banking Level-1 Accounts, Asaan Account/Asaan Digital Account, and Merchant Accounts: Daily transaction limits have been eliminated, and the per-month limit has been increased to PKR 5,000,000. The public is strongly encouraged to take advantage of these convenient and secure digital financial services during the Eid-ul-Azha period. By participating in the 'Go Cashless' campaign, individuals can contribute to a more efficient and inclusive financial ecosystem in Pakistan. Copyright Business Recorder, 2025
