KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as of January 25, 2022.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.73 | 10.23 |
| 2 – Week | 9.77 | 10.27 |
| 1 – Month | 9.83 | 10.33 |
| 3 – Month | 10.02 | 10.27 |
| 6 – Month | 10.83 | 11.08 |
| 9 – Month | 10.94 | 11.44 |
| 1 – Year | 11.04 | 11.54 |
Banking customers have been provided relief of an amount of Rs709 million in complaints lodged against banks, according to a statement issued on Tuesday.
The Banking Mohtasib Pakistan (BMP) has provided relief amounting to Rs 709 million to the banking customers by disposing of 32,592 complaints during the year, 2021 out of 37,364 complaints which works out to about 87 per cent of the total complaints as compared to the year, 2020 wherein relief of Rs 598 million was provided to the banking customers by disposing of 21,360 complaints.
READ MORE: Mohtasib provides relief of Rs600 million in complaints against banks
According to the Annual report for the year 2021 of BMP which was released today 33,196 new complaints, including 18,762 complaints from Prime Minister’s portal, were received at BMP Secretariat in 2021 whereas 4167 of complaints were brought forward from the year, 2020.
An increase of about 46% was observed in the receipt of complaints at BMP during the year, 2021 as compared to the year, 2020. In-spite of Covid-19, Banking Mohtasib Pakistan Office has succeeded in maintaining the regular pace of disposing of complaints while adhering to the prescribed Covid-19 Standard Operating Procedures (SOPs).
READ MORE: Mohtasib receives 11,174 complaints against banks during six months
To keep pace with the technology and to meet the art of the technological product, BMP has embarked upon a project to upgrade the I.T. system and revamp its website.
This revamped website will contain an online complaint lodgment portal for general public which will be followed by launching of SMS service by sometime in June this year to keep them abreast with the status of their complaints.
READ MORE: Mohtasib receives 14,587 complaints against banks
With a view to protecting the people from fraudulent activities which are rampant now a days, the Banking Mohtasib, Mr. Kamran Shehzad has also emphasized on the banking customers that they should not disclose their personal and financial credentials to any third person. On receipt of suspicious calls they should immediately approach the nearest branch of their bank or contact the helpline of the bank, he added.
READ MORE: Complaints against banks surge by 51 percent: Banking Mohtasib
Karachi, Pakistan – On Tuesday, the State Bank of Pakistan (SBP) released the official exchange rates for January 25, 2022, offering customers valuable insights based on the weighted average rates of commercial banks.
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KARACHI: Pakistan stocks have declined by 36 points on Tuesday amid rising cases of COVID-19 in the country.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,888 points as against previous day’s closing of 44,924 points, showing a decrease of 36 points.
READ MORE: Stocks fall 94 points amid policy announcement
Analysts at Arif Habib Limited said that the market opened on a positive note as Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) kept the policy rate unchanged at 9.75 percent.
Cement stocks remained in the limelight due to expectation of tremendous earnings in the upcoming results.
READ MORE: Stocks gain on unchanged policy rate expectations
The market stayed in the green zone but profit taking was witnessed in the last trading hour, which led the index to close in the red zone due to alarming Covid-19 cases and mounting international oil prices.
The main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
READ MORE: Bearish trend continues at Pakistan Stocks
Sectors contributing to the performance include Technology (-91.3points), E&P (-38.8points), Chemical (-21.8points), Insurance (-8.5points) and Power (-5.8points).
Volumes increased from 160.2 million shares to 207.0 million shares (+29.2 per cent DoD). Traded value also increased by 41.3 per cent to reach US$ 45.9 million as against US$ 32.5 million.
Stocks that contributed significantly to the volumes include WAVES, TRG, TREET, CNERGY and WTL.
READ MORE: Pakistan’s stocks plunge by 674 points on high oil prices
KARACHI: The Pak Rupee (PKR) fell by 23 paisas against the dollar on Tuesday owing to higher import demand and falling foreign exchange reserves.
The rupee ended Rs176.72 to the dollar from previous day’s closing of Rs176.49 in the interbank foreign exchange market.
READ MORE: Rupee plummets on high oil prices
Currency experts said that the rupee witnessed depreciation due fall in foreign exchange reserves of the country and surge in dollar demand for import payments.
READ MORE: Rupee recovers 25 paisas on easing oil prices
Pakistan’s liquid foreign exchange reserves dropped by $551 million to $23.35 billion by week ended January 14, 2022 as compared with $23.901 billion by week ended January 07, 2022.
The experts said that the rupee was under pressure due to higher payments for oil imports. They said that the dollar demand went up owing to rise in international oil prices.
READ MORE: Rupee drops 27 paisas against dollar
The oil bill of Pakistan jumped by 113.4 per cent during first half of the current fiscal year. The bill surged to $10.18 billion during July – December 2021/2022 as compared with $4.77 billion in the corresponding period of the last fiscal year.
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs 6,350,837.64 on January 25, 2022, in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs 6,420,909.87 on January 24, 2022.
The rate of Bitcoin in US Dollar (USD) is $36,041.02 on January 25, 2022 in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $ 36,389.40 on January 24, 2022.
Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs105.00 on January 25, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs 107.38 on January 24, 2022.
The rate of Ripple in US Dollar (USD) is $0.60 on January 25, 2022, in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.61 on January 24, 2022.
Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs23.55 on January 25, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs 24.23 on January 24, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.13 on January 25, 2022, in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.14 on January 24, 2022.
Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: Sami Wahid has been appointed as the new Managing Director (MD) of Mondelēz Pakistan.
Mondelēz Pakistan, one of Pakistan’s and global leading snacking companies in a statement on Monday said Wahid will be responsible for the overall business strategy and commercial offerings.
As an expert in the snack and beverage industry, Wahid brings over 17 years of experience in the fields of marketing, sales and strategy. His role entails a holistic business strategic direction and commercial operations for Pakistan, while being based locally.
Sami has had a long association with Mondelez International, starting back from 2015 where he became part of the organization and have overlooked various responsibilities across the Middle East, North Africa and Pakistan (MENAP) markets. Armed with experience in other organizations, he has built a successful career in the food and beverage industry.
Most recently, Sami served as the Strategy Lead for MENAP at Mondelez steering the company and transforming it through the challenging times of Covid-19. Prior to this he has had a phenomenal track record being responsible for driving the business strategy, base equity and innovations.
“It is an honor to take on this exciting new role, especially at a time when there are growing opportunities and promising business avenues for Pakistan. We have built a strong foundation for the company in the past years which is envisioned to grow even further through tactful and strategic means.
“My aim is to bring the years of knowledge and experience of multi-markets & categories to further accelerate company’s growth via deepening our connect with consumers and expanding our foot-prints into evolving channels, as well as focusing on our team development” acclaimed Sami Wahid, MD, Mondelēz Pakistan.
Sami has his origins in Pakistan where he earned an MBA in Marketing and Bachelors from the Institute of Business Management in Pakistan.
Keeping track of his past performance and knowing his progressive mindset, under his command Mondelez Pakistan will be seen growing multiple folds in the future.
KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR) as of January 24, 2022.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.75 | 10.25 |
| 2 – Week | 9.81 | 10.31 |
| 1 – Month | 9.86 | 10.36 |
| 3 – Month | 10.16 | 10.41 |
| 6 – Month | 11.18 | 11.43 |
| 9 – Month | 11.23 | 11.73 |
| 1 – Year | 11.27 | 11.77 |