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.
KARACHI: Bank Alfalah Limited, one of Pakistan’s prominent financial institutions, announced a slight downturn in its profits for the first quarter ended March 31, 2024, on Wednesday.
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In a striking development for Pakistan’s economy, government borrowing has hit an unprecedented high of Rs 5.301 trillion for the fiscal period from July 1, 2023, to April 12, 2024.
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Karachi, April 23, 2024 – The Pakistani Rupee (PKR) witnessed a slight depreciation against the US Dollar, ending Tuesday at PKR 278.38 in the interbank foreign exchange market, a marginal drop of PKR 0.05 from the previous day’s close of PKR 278.33.
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Karachi, April 23, 2024 – Habib Bank Limited (HBL), one of Pakistan’s premier banking institutions, has declared a substantial after-tax profit of Rs 15.04 billion for the first quarter of the calendar year 2024, marking a significant increase from Rs 13.26 billion reported in the same period last year.
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Karachi, April 17, 2024 – The US Dollar experienced a marginal increase against the Pakistani Rupee (PKR), closing at PKR 278.33 in the interbank foreign exchange market on Monday.
(more…)The Pakistani Rupee is expected to maintain its steadiness against the US dollar in the week commencing April 22, 2024, buoyed by robust foreign exchange reserves and positive developments regarding a potential new loan program with the International Monetary Fund (IMF).
(more…)Karachi, April 19, 2024 – A comprehensive survey conducted by Topline Securities Limited has dismissed any speculation regarding an increase in the benchmark policy rate by the State Bank of Pakistan (SBP) in the forthcoming monetary policy statement, shedding light on key market sentiments and expectations.
(more…)Karachi, April 19, 2024 – After a prolonged downward trend, the Pakistani Rupee staged a notable recovery on Friday, ending its four-day losing streak by gaining PKR 0.13 against the US Dollar in the interbank foreign exchange market.
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President Asif Ali Zardari has commended the Banking Mohtasib for its remarkable efforts in processing over 25,000 complaints and extending monetary relief amounting to Rs. 1.26 billion to banking customers during the year 2023.
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Karachi, April 18, 2024 – The US Dollar continued its upward trajectory against the Pakistani Rupee (PKR) on Thursday, marking the fourth consecutive day of gains in the interbank foreign exchange market.
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