ACCA Pakistan releases “FinTech – transforming finance" report

The Association of Chartered Certified Accountants (ACCA) has released a new report as part of Research and Insight (R&I). The report looks at the boom of Financial Technology (FinTech), its impact on the financial service landscape, and how it will offer a real opportunity for Pakistan to establish itself as the centre of global finance.

The report, FinTech – transforming finance, finds that FinTech’s impact on finance and banking is as revolutionary as the internet on other areas of the economy. The rapid growth of such firms in the face of traditional regulatory models could increasingly become a barrier to success.

Sajid Khan, head of ACCA International Development, says the report highlights the opportunity for Pakistan’s IT sector

 ‘Despite the US benefitting from a head-start thanks to Silicon Valley’s global standing as an innovation centre, progress has been slowed through legislative and licensing hold-ups. This has really opened the door for other markets where a combination of supportive regulatory framework and high digital investment is allowing the sector to flourish.

Given the development of a highly skilled IT sector in Pakistan in recent years, which could be worth $11 billion over the next five years, the potential restructuring of the global finance sector offers a real opportunity

                        

Mr Sajid Khan also thinks that the growth of FinTech also relies on the guidance and insight of finance professionals,

‘While FinTech opens a range of possibilities for business, from new banks to streamlining payments and lending, exploiting these opportunities will require adaptation from firms as well. We are already seeing a burgeoning ‘RegTech’ (Regulation Technology) sector which can use automation and data-analysis to provide intelligent, low-cost solutions to streamline this process.

Understanding the intricacies of global best practices and adapting them for varying national contexts can set aspiring FinTech hubs on a course for success.’

Mr Sajid Khan thinks that, rather than threaten the accountancy profession, FinTech will particularly benefit professional accountants with a highly developed, globally-focused skill-set,

The global competition in FinTech and RegTech has greater potential than just for IT companies. Whether it is reducing the costs of international trade for Pakistani businesses or making it easier for global companies to use India as a geographical hub, technology adoption will also necessitate transformations in tax compliance, audit and reporting processes

 ‘This will in fact place greater emphasis on the importance of having forward-thinking professional accountants equipped with a strong digital understanding and strong knowledge of international working to guide firms through the opportunities and challenges ahead.’

  

Mr Sajid Khan also thinks the development of FinTech will be good news for consumers as well as businesses,

 ‘While the scale of transformation is hard to predict, there is no doubt that the impact of FinTech across the traditional functions of finance has been significant. Major banking institutions are already responding through large-scale research and investment in the face of competition from start-up challengers. This is good news for consumers and firms, as the explosion of choice in a traditionally conservative industry offers a range of new possibilities of doing business based around their bespoke needs.’

About ACCA:

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 188,000 members and 480,000 students in 178 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com

Things You Should Consider Before Selecting Any Hotel for Your Vacation

Vacations are considered to be a duration spent by a person to relax and unwind both physically and mentally. This is usually done by providing a fresh yet a different perspective to the mind by going on a trip to explore a new place and hence a different culture.

To ensure that the vacations are spent in refreshing the body and the soul, it is important to plan for them beforehand. Although spontaneity in plans makes them exciting, it might also cause problems which can result in marring your trip.

Hotel selection is one of the key things that you should plan beforehand to avoid any glitches. This article by Jovago Pakistan covers all the things that you should consider prior to selecting a hotel for your vacations.

• Location

Is the hotel too far from the various tourist destinations? Does the hotel provide a good view of the area? Considerations of such nature fall in the location category. It is important to know regarding the location of the hotel so that a lot of time is not wasted in traveling from one place to another especially if you are going on a short trip.

• Price

The monetary factor is one of the most important factors which need to be taken into account when planning a trip. This is done to avoid money shortages during the vacations. Thereby, it is essential to know whether the hotel rent is within your budget or not.

• Parking

This is an important factor which needs to be considered if you are traveling by car.  You will require a place to park your car and so you should check whether the hotel offers parking space or not. If it does then how much does it charge for it?

• Number of stars

Star rating is a common way to categorize the hotels. The more the stars a hotel has, the better the quality of the facilities offered by it. It is useful when deciding whether to go for a more economical or a luxurious hotel choice.

• Onsite Facilities

The facilities offered by the hotel on the site where it is located is also an important thing when booking a hotel. These onsite facilities include the swimming pool, restaurants, spa and golf courses.

Jovago compiles a list of some perfect sightseeing areas in Pakistan

People say that the location of a country is one of the many factors that mark a country’s importance on the world map. Pakistan seems to be a good example to quote here. The South Asian country is one of the few countries in the world that are blessed with every form of landscapes and water bodies.

Be it the mighty mountains or the far-stretched deserts, the massive pieces of ice in the form of glaciers or the never ending river streams which end up flowing into the sea and eventually ocean, one can find it all in Pakistan. Keeping in mind the sheer beauty of the country,Jovago Pakistan has compiled a list of some perfect sightseeing areas that are a must visit if you are planning a trip to explore the South Asian country.

• Siri Paye

Apart from the funny name of the place which makes people remember it, the place too seems to bewitch the visitors with its sheer beauty. The green plateau on the top of the mighty Hindu Kush mountain range enthralls the visitors with a beautiful amalgamation of wild yellow flowers and small freshwater ponds.

• Naltar valley

When one visits this valley, it seems as if it is an artist’s creation which portrays a spectacular splashing of colors. This is because of the various colorful lakes that the area is blessed with. The highly enriched lands provide the cultivating grounds of the world’s tastiest potatoes. It won’t be wrong to say that it is certainly a traveler’s paradise.

• Shandur Top

For all the polo lovers out there, this place is a must visit because it homes the highest polo ground in the world. In the winter season, the area is covered in a blanket of snow but as soon as the summer season arrives; the area provides a spectacular view of the lush greenery that Mother Nature has blessed it with.

• Mohenjo-Daro

The home of Indus Valley Civilization, which is considered to be one of the world’s oldest civilizations, the rich history of the area is what makes the place to stand out. The place is a must visit to get informed about one of the most important parts of the subcontinent’s rich history .

Jovago provides a complete travel guide to visit Ziarat

Balochistan is the largest province of Pakistan and is home to a fair share of the beautiful landscapes that the South Asian country is blessed with. Among these is Ziarat which is the capital of the Ziarat District.

Ziarat valley seems to encapture everything in its folds as it is one of the top destinations which travelers explore and wander about when they visit Balochistan. Jovago Pakistan has compiled a complete travel guide for those people who are planning to travel to Ziarat Valley.

History behind the valley name

The word ‘Ziarat’ basically means shrine and it seems that the place got its name from the shrines that are situated in the nearby area. Various saints are said to have resided in the valley.

Location

Ziarat is basically a hill station which is located at an approximate altitude of 8000 feets. It is located at a distance of 122 kilometers from Quetta which is the provincial capital of Balochistan.

Description

The Ziarat valley is covered by the Junipers trees that the are widely spread across the valley. The Juniper trees are considered to be among the oldest trees in the world. This is one reason why Ziarat valley is considered to be the home of the world’s second largest Juniper forest. When the area is covered with the blanket of snow in the winter season, the valley portrays an enchanting view to the travelers. Apart from the Juniper trees, several other rare species of flora and fauna are found in the area including the Ephedra herb and the Chakor partridge.

Popular Tourist spots

• Quaid-E-Azam Residency

The founder of Pakistan had a particular liking of the Ziarat Valley which can be seen from the fact that he spent his last days residing in this valley. The Quaid e Azam residency is not only of historical importance but the spot enthralls the visitors with its sheer beauty. Chinar trees amidst the lush green lawns provide a striking view of the whole valley.

• Prospect Point

This tourist spot is located at a distance of 6 km from Ziarat. Although the spot is accessible through roads, travelers and wanderers prefer to walk in order to get spell bounded by the views that the area possesses.

Astonishingly Beautiful Mountain Ranges in Pakistan for Hiking

In the form of mountains, Mother Nature has blessed the earth with an important form of landscape. These huge mounds of rock stand high and mighty in various parts of the world. Pakistan is also among those countries which are home to several mountain ranges.

These mountain ranges are crucial for the South Asian country because various natural resources are enclosed within the many folds of these rocky mounds. Moreover, their exotic beauty attracts most of Pakistan’s inbound tourists towards themselves.Jovago Pakistan has compiled a list of beautiful mountain ranges in Pakistan that will surely leave you enchanted.

• Himalaya Range

Famous for its Nanga Parbat peak which is known as the killer mountain,  this mountain range is located in the Gilgit-Baltistan. The Himalayas means house of snow. They are home to the world’s 10 highest peaks including Mount Everest.

• Karakoram Range

In Turkish, the word Karakoram means black. True to its name, the splendid collection of dark brown and black rocks is truly one of its kind. To further enthrall the travelers, the steep nature of the mountains make it one of the most dangerous ranges in the world. Karakoram range is a favorite among bikers and cyclists. This mountain range runs along various countries namely: Pakistan, China and India. It is home to the several world’s highest glaciers and mountains including the famous K2.

• Hindu Kush Range

This chain of mountains runs along the Eastern Afghanistan and stretches out towards North Western part of Pakistan. True to its name which means death, the mountain range is dangerous and deadly due to the passes which stretch between the peaks. The mountain range is mostly covered by glaciers, leaving little area for flora to grow. It is home to Tirich Mir-the world’s highest mountain peak outside the Himalayan-Karakoram ranges .

• Sulaiman Mountains Range

The range stretches from Afghanistan into Pakistan. Its highest peak is Takht-e-Sulaiman which is also known as the ‘Throne of Solomon’ because of its shape.

• Kirthar Mountain Range

The range is primarily located in Sindh while it also extends itself into central Baluchistan. The famous Kirthar National Park, which is one of the largest national parks of Pakistan, is also a part of this range. The highest peak Koh-e-Benazir  was recently discovered in 2009.

List of Historical places to explore in Lahore

There are only a few cities around the globe which provide a magnificent amalgamation of modernity and history. One of these cities is the city of Lahorewhich is considered as one of the most prestigious cities in the South Asia. Moreover, it is not only the provincial capital of Punjab but also the cultural capital of Pakistan.

When one thinks of Lahore, one is bombarded with images of culinary delights, historically rich monuments and the culturally rich bazaars and what not. To further beautify your perception about Lahore, read this article by Jovago Pakistan to get informed about the historically rich places that stand high and mighty across the city.

• Shalimar Garden Lahore

Considered to be one of the masterpieces of Mughal Era, Shalimar Garden is a must visit. It was constructed in the — century by the Mughal Emperor Shah Jahan who was known for his love of nature and architecture. Due to their historic relevance, the Shalimar Gardens are one of the top tourist attractions.

• Sheesh Mahal

As the name suggests, this palace of mirrors will surely leave you bewitched with its mesmerizing views. Also constructed by Mughal Emperor Shah Jahan, this palace is located within the Shah Burj block in the North-western corner of Lahore Fort. The Sheesh Mahal is also a part of Unesco World Heritage.

• Anarkali Bazar

Considered to be the oldest bazaar in South Asia, the Anarkali bazaar is a place where one can see different yet beautiful fusions of everyday artifacts. The bazaar is also a part of the rich Mughal Heritage and is named after the slave girl who was buried alive by most famous Mughal Emperor Akbar.

• Badshahi Mosque

One of the most beautiful masjids of the Mughal Architecture, Badshahi Masjid was built by the famous Mughal Emperor Aurangzeb. Considered to be an epitome of beauty and grandeur, this masjid is the second largest in Pakistan and the fifth largest in the world. This landmark is also a part of the Unesco’s World Heritage. It is capable of accommodating fifty-five thousand worshippers at a single time.

A complete tour guide for Skardu by Jovago Pakistan

Popularly known as the Northern Areas of Pakistan, Gilgit-Baltistan region is one of the most beautiful parts of the South Asian country. It is the region where the world’s three mightiest mountain ranges, the Karakoram, the Himalayas and the Hindu Kush meet.

Skardu is one of the most popular towns of the Gilgit-Baltistan region. It is because of the sheer beauty of the area that has enthralled the hearts of tourists. If you are planning to visit Skardu anytime soon, then this complete tour guide by Jovago Pakistan will certainly prove to be very helpful.

Location

Skardu is the largest town of Gilgit-Baltistan and is the capital of the Skardu District. It is basically situated in the Skardu Valley, which runs along the wide banks of River Indus. It is also the meeting ground for the River Indus and River Shyok.

Description

Skardu is popular for the variety found in its topography. Amidst the mighty mountain peaks, rich, lush green pasturelands are widely spread because of the River Indus. Moreover, it also possesses sand dunes which are usually referred to as the cold desert. A wide range of unique flora and fauna further add to the beauty of this area.

Major Tourist Attractions

• Buddhist Rock

The area is rich in history as it is home to the only remaining Buddhist Rock. This rock is  carved with images of Buddha that are dated back to the period of Great Tibetan Empire. It is located on the Satpara road in the Skardu.

• Kachura Lake

Situated at a distance of 32 kilometers (20 miles) away from Skardu, it takes two hours by jeep, to reach the shimmering waters of the Kachura Lake. In the spring season, the banks of the lake provide a rare yet enthralling image of the colorful flowers and peach, apricot and apple trees. It is a popular spot for trout fishing.

• Shangri-la Resorts

Situated within a short drive of just 35 minutes away from Skardu, Shangri-la resort is built along a beautiful lake. It is surrounded by the most enchanting and splendid scenic beauty. Tourists are able to stay here and enjoy the enthralling beauty of the area. Boating and Trekking are the popular activities of this area.