The Karachi Stock Exchange ( KSE ), which gained 146.93 points last week, lost 149.07 points this week and closed at 9,774.07 points; failing to achieve 10,000 psychological level despite touching it twice this week amid uncertainty over the implications of the detailed verdict on NRO . The average turnover remained 207.882 million shares as compared to 157.020 million shares of the previous week; up 50.862 million shares. On the other hand, the KSE 30-index also lost 188 points and closed at 10285.97 as compared to 202.27 points gain in previous week. Bears overwhelmed the market for three days while bulls dominated the equity for two days only. The bourse started business on Monday with negative note when KSE 100-index shed around 28 points. On Wednesday and Thursday, market also lost heavily as KSE shed 50, 151 points respectively. Local investors opted for panic selling on Thursday on renewed concerns over judiciary action after NRO detailed judgement. Though, bourse lost almost...

BankIslami Pakistan Limited opens its 75th Branch in Orangi Town Karachi and is all set to achieve its target to increase its Branch Network to 102 branches in 49 cities. More than 40% of Branch network caters to the unbanked rural areas where the demand for the Islamic Banking is phenomenal and relatively untapped. Moreover, all 102 BankIslami branches are Online, which will enable all BankIslami customers to make transactions and access their accounts anywhere throughout the BankIslami Branch Network in 49 Cities. The Bank is now among the league of mid sized banks operating in the country. BankIslami has now considerable presence in the financial hub of Pakistan, "Karachi", which has proved to be the most attractive market for Islamic banking. The Bank will close the year with 30 branches in the metropolis encompassing the major areas of the city with a special focus to cover the unbanked areas.