KARACHI - U Microfinance Bank (U Bank) and Pathfinder Group have entered into a strategic collaboration to utilize organizational strengths to offer digital financial services and other banking-related services to customers.
The signing ceremony took place at the Pakistan Pavilion, held on the sidelines of World Economic Forum 2023 in Davos - Switzerland, where the Memorandum of Understanding (MoU) was signed by Mr Kabeer Naqvi, President & CEO – U Microfinance Bank and Mr Zarrar Sehgal, Chairman – Pathfinder Group, in the presence of Mr Ikram Sehgal, Co-Chairman – Pathfinder Group, and other senior management members from both the organizations.
Speaking at the occasion, Mr Kabeer Naqvi, President & CEO – U Microfinance Bank stated, “As a mission-driven bank with financial inclusion for citizens across all societal segments as our objective, we are glad to have entered into this collaboration with Pathfinder Group. This gives us an opportunity to expand our digital outreach and bring the unbanked population into the financial ecosystem in an efficient manner.”
Mr Zarrar Sehgal, Chairman – Pathfinder Group, shared his views on the importance of this strategic partnership agreement. He stated that such partnerships will help economically empower the masses and have a long-lasting impact on digital financial inclusion in Pakistan. Pathfinder group looks forward to working closely with U Bank to create impact and bring inclusion.
Pakistani rupee advanced its winning momentum against US dollar, and other currencies in the open market amid strong economic cues.
On Saturday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.
Euro moves down to 309.9 for buying and 310.5 for selling. British Pound rate stands at 359.4 for buying, and 360.05 for selling.
UAE Dirham AED also moved down to 77.45 whereas the Saudi Riyal drops to 75.82.
|UK Pound Sterling||GBP||359.4||360.05|
|Hong Kong Dollar||HKD||36.38||36.48|
|New Zealand Dollar||NZD||173.44||175.44|
The price of gold fell by thousands of rupees as precious metal lost shine despite an upward trend in the international market.
On Saturday, the price of a single tola of 24-karat gold stands at Rs217,300 and 10 grams of 24k gold costs Rs186,300.
Meanwhile, single tola of 22 Karat gold costs Rs199,190, 21 karat rate costs Rs190,138 and 18k gold rate is Rs162,975.
Globally, gold prices hover at around $2072, gaining $32 on Saturday.
|Lahore||PKR 217,300||PKR 2,705|
|Karachi||PKR 217,300||PKR 2,705|
|Islamabad||PKR 217,300||PKR 2,705|
|Peshawar||PKR 217,300||PKR 2,705|
|Quetta||PKR 217,300||PKR 2,705|
|Sialkot||PKR 217,300||PKR 2,705|
|Attock||PKR 217,300||PKR 2,705|
|Gujranwala||PKR 217,300||PKR 2,705|
|Jehlum||PKR 217,300||PKR 2,705|
|Multan||PKR 217,300||PKR 2,705|
|Bahawalpur||PKR 217,300||PKR 2,705|
|Gujrat||PKR 217,300||PKR 2,705|
|Nawabshah||PKR 217,300||PKR 2,705|
|Chakwal||PKR 217,300||PKR 2,705|
|Hyderabad||PKR 217,300||PKR 2,705|
|Nowshehra||PKR 217,300||PKR 2,705|
|Sargodha||PKR 217,300||PKR 2,705|
|Faisalabad||PKR 217,300||PKR 2,705|
|Mirpur||PKR 217,300||PKR 2,705|