Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.
(PkRevenue.com) – Foreign investors have withdrawn a substantial $887 million from Pakistan between July 2023 and April 2024, according to official data released on Tuesday.
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PKRevenue.com – Raqami Islamic Digital Bank Ltd. (RIDBL) has announced a strategic partnership with 1LINK, one of Pakistan’s largest payment service providers, to enhance its digital financial services.
(more…)PKRevenue.com – The State Bank of Pakistan (SBP) has announced that all banks will observe a holiday on May 28, 2024, in honor of Youm-e-Takbeer.
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(PkRevenue.com) – The Pakistani Rupee faced a minor setback on Monday, weakening by 9 paisas against the US dollar at the closing of the interbank foreign exchange market.
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Karachi, May 27, 2024 – In a positive turn for Pakistan’s economy, the Pakistani Rupee gained 6 paisas against the US Dollar during early trade on Monday.
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Karachi, May 27, 2024 – Meezan Bank, Pakistan’s leading Islamic bank, has officially commenced operations of its wholly-owned subsidiary, Meezan Exchange Company Limited (MECL), in Karachi.
(more…)Karachi, May 26, 2024 – Pakistan is likely to increase the withholding tax rate on bank cash withdrawals from 0.6 percent to 0.9 percent. This proposed amendment is expected to be a key component of the Federal Board of Revenue (FBR)’s forthcoming budget for 2024-25.
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Karachi, May 26, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the abolition of the windfall profit tax on banks in its proposals for the Budget 2024-25.
(more…)Karachi, May 26, 2024 – The Pakistani Rupee is expected to remain stable against the US dollar in the lead-up to the presentation of the Budget 2024-25, scheduled for next month. This forecast comes amid slight fluctuations observed in the interbank market this week.
(more…)Karachi, May 24, 2024 – The Pakistani rupee gained nine paisas against the US dollar on Friday, buoyed by positive economic developments and market sentiment.
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