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, April 2, 2024 – Official data released on Tuesday revealed a startling surge in government bank borrowing for budgetary support, reaching a staggering Rs 4.69 trillion during the period spanning from July 1, 2023, to March 22, 2024.
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Karachi, April 2, 2024 – The Pakistani Rupee exhibited resilience against the US dollar on Tuesday, gaining PKR 0.10 in the interbank foreign exchange market.
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Karachi, April 1, 2024 – The Pakistani Rupee concluded on a firmer note on Monday, closing at PKR 277.94 against the US dollar at the interbank foreign exchange market.
(more…)Karachi, March 29, 2024 – The Pakistani Rupee exhibited strength in the interbank foreign exchange market, closing at PKR 277.95 against the US Dollar on Friday, marking a notable appreciation from the previous day’s closing rate of PKR 278.03.
(more…)Karachi, March 29, 2024 – The State Bank of Pakistan (SBP) has announced an extension to the deadline for the import of Cash US Dollars by exchange companies.
(more…)Karachi, March 28, 2024 – In a bid to streamline tax collection for the month of March 2024, the State Bank of Pakistan (SBP) has instructed banks to open on weekly holidays and observe special working hours to facilitate taxpayers.
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Karachi, March 28, 2024 – The Pakistan Banks Association (PBA) has announced the appointment of Muneer Kamal as its new Chief Executive Officer (CEO) and General Secretary, effective April 1, 2024, succeeding the longstanding CEO & Secretary General, Tawfiq A. Hussain.
(more…)Karachi, March 28, 2024 – The Pakistani Rupee concluded its trading session on Thursday with a stronger position against the US Dollar, settling at PKR 278.03 in the interbank foreign exchange market.
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Karachi, March 28, 2024 – In a bid to enhance financial inclusivity and streamline digital banking processes, the State Bank of Pakistan (SBP) announced on Thursday a temporary waiver of biometric verification for Asaan Mobile Accounts (AMAs), marking a significant move towards facilitating easier access to financial services, particularly for women.
(more…)Karachi, March 27, 2024 – The Pakistani Rupee on Wednesday made a modest gain of PKR 0.04 against the US Dollar at closing of interbank foreign exchange market.
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