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KSE-100 index breaches 44,000 level, YTD return turns negative for 1st time in 2021 Equities Correspondent
Stocks continued to be battered at Pakistan Stock exchange (PSX) as mounting political uncertainty in the country led bears to rule the roost at the bourse. On Wednesday, the benchmark index tumbled for the fifth consecutive session, breaching 44,000 level, as it closed at 43,691.68 level after losing another 531.23points by the closing bell.
On Monday, owing to constant selling pressure, the YTD (Year-to Date) return on benchmark index also turned negative for the first time in CY21 after today’s performance, showing a decline of 63 points or 0.15% as compared to the closing of the previous year.
Meezan Bank suspends Mummy Clubâs account for not being Islamic
Account was deactivated based on word âclubâ, says owner SAMAA | Samaa Money - Posted: Feb 19, 2021 | Last Updated: 2 months ago SAMAA | Samaa Money Posted: Feb 19, 2021 | Last Updated: 2 months ago
Manahyl started The Mummy Club in 2018. It has 9,000 members today.
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Meezan Bank Limited has deactivated the account of an online community for mothers, The Mummy Club, stating it was not Shariah compliant.
âI donât know whether to laugh or cry⦠@MeezanBankLtd opened a business account for me, and then days later decides to cancel it because we are The Mummy âClubâ and thatâs not Shariah,â the clubâs owner Manahyl Khan Shafi tweeted, adding, âWHAT KIND OF A CLUB COULD WE POSSIBLY BE?â
Business
February 19, 2021
KARACHI: Pakistan State Oil (PSO) has announced a net profit of Rs4.03 billion for the quarter ended December 31, 2020, up 363 percent from the profit of Rs869.66 million recorded in the corresponding quarter of the previous year.
The EPS for the quarter under review clocked in at Rs8.86 as against Rs3.91 in the same quarter previous year. PSO also declared a cash dividend of Rs5.0/share.
“The jump in earnings is due to growth in volumes and company recording inventory gains of Rs0.6 billion in Q2FY21 compared to inventory loss of Rs2 billion in Q2FY20, we view,” a report issued by Arif Habib Limited noted.
KARACHI: Pakistan Stock Exchange held a gong ceremony on Monday to welcome on-boarding of Meezan Bank Limited as a market maker on PSX for Shariah-compliant debt securities.An agreement was signed.