Pakistan has enjoyed some economic growth, largely on the back of the China-Pakistan Economic Corridor, while security has improved and more reliable power supply should aid investment. But the deep-seated problems of tax avoidance and corruption persist. Edward Russell-Walling reports.
Small businesses are underserved in Pakistan but Telenor Microfinance Bank is hoping a deal with Chinese fintech giant Ant Financial will increase their access to electronic banking and help push up microfinance lending. Edward Russell-Walling reports.
Riaz Riazuddin, Pakistan’s acting central bank chief, tells Edward Russell-Walling how it will target inflation and why he disagrees with the IMF suggestion that the country’s strong currency should be allowed to weaken in the face of a deficit.
Following the 2008 global financial crisis, Pakistan Stock Exchange former managing director Nadeem Naqvi was recruited to steer a course via consolidation and regulation of the regional exchanges, and regain emerging market status for the PSE and oversee its listing. Edward Russell-Walling reports.
Pakistan’s GDP growth is up, its budget deficit is down and the China-Pakistan Economic Corridor promises to bring with it major investment. But observers are warning against government complacency as its privatisation programme stalls and power debts remain unpaid.
As a country with severe issues of financial exclusion, Pakistan is setting up an institutional framework supporting microfinance institutions. The latest innovation is the launch of the Pakistan Microfinance Investment Company. Edward Russell-Walling maps the sector's development.
Although Pakistan's economy has not met all government targets, its macro fundamentals are strong and the China Pakistan Economic Corridor is generating a lot of optimism. Is this enough to attract more foreign direct investment into the country? Edward Russell-Walling reports.
Pakistan's big five banks have largely enjoyed a prosperous past 12 months. However, as Edward Russell-Walling discovers, lower interest rates, a lack of credit being extended to the private sector and the rise of Islamic finance are causing the banks to reassess their strategies.
After a false start, Islamic banking has become the fastest growing segment of the Pakistani banking industry, with the full support of the government. Apart from the ever-present challenge of liquidity management, most local Islamic bankers agree that their most important task now is to build awareness in the country.