Here is a great article by the Washington Examiner on what would it mean for much of the stringent regulation that banks and Wall Street loathe would look like – when it is gone. It is a large ask – the proposed bill that tends to do away with much that has been cited with […]
Ever since oil prices fell, the Gulf Cooperation Countries have been flip-flopping on the issue of remittance tax. Expatriates (read: migrant workers) living in the GCC annually send over US$ 100 Billion back to their home countries. All was hunky-dory when the price of an oil barrel was over US$ 100. Today, the case needs to […]
With all these cuts in Saudi government spending, construction is the largest sector that is affected. Some estimate cite as much as 45%. Outgoing remittances will be impacted and the results would clearly be noticeable in the coming quarters. Ministry budgets could be cut by a quarter; some ministries may also be merged or eliminated […]
What happens when banks in the US close MSB accounts? It is a losing proposition for the government. This is how money then gets transported and lost on the other side in the noise. Tracking it also becomes an issue. The fundamental issue with money is that it flows like water. If you place hurdles […]
PayPal in Pakistan At a recent conference in Islamabad, Pakistan’s Minister for State for IT and Telecom: Anusha Rehman cites that the government will soon invite the likes of PayPal, Amazon and Ebay into Pakistan to start operations. This news first popped up on my timeline by a post carried out by ProPakistani and then one […]
For those who don’t know, I.I. Chundrigar Road is the road on which the Central Bank of Pakistan, i.e. State Bank of Pakistan is located. Last week they released their Rules for Payment System Operators & Payment Service Providers, which essentially killed the Payments & Fintech startup industry of Pakistan. Murder on Chundrigar Road is […]
State Bank of Pakistan recently released the much anticipated Rules for Payment System Operators & Payment Service Providers. The expectations were high. The results. Disappointing.
Reporters Without Borders released its 2014 annual index called: Press Freedom Index 2014. Pakistan’s 2013 rating was 159. Its rating for 2014 was 158. This is nothing great considering in 2013 Pakistan slipped -8 places to 159. With Pakistan’s press continually subjected to illegal eavesdropping and snooping by the various government agencies, this horrible […]