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, March 8, 2024 – The State Bank of Pakistan (SBP) announced on Friday that it will observe a bank holiday on the 1st day of Ramadan-ul-Mubarak, 1445 A.H., for the purpose of the annual Zakat deduction.
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Karachi, March 8, 2024 – The Pakistani Rupee (PKR) showcased a remarkable recovery on Friday, closing at PKR 279.04 against the dollar in the interbank foreign exchange market.
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Karachi, March 8, 2024 – The State Bank of Pakistan (SBP) reported a substantial 13 percent Year-on-Year (YoY) growth in workers’ remittances to Pakistan in February 2024.
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Karachi, March 7, 2024 – In a move aimed at promoting financial inclusion and Shariah-compliant services, Meezan Bank has officially entered into a Memorandum of Understanding (MoU) with the Pakistan Microfinance Network (PMN), the national association for retail players in the microfinance industry.
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Karachi, March 7, 2024 – In a positive turn of events, the Pakistani Rupee (PKR) exhibited resilience on Thursday as it strengthened against the US dollar, reaching PKR 279.29 in the interbank foreign exchange market.
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Karachi, March 7, 2024 – The National Bank of Pakistan (NBP) is grappling with a substantial increase in tax contingencies, soaring to an astonishing Rs 34.73 billion by the close of the calendar year 2023.
(more…)Karachi, March 6, 2024 – The State Bank of Pakistan (SBP) achieved a significant milestone on Wednesday by successfully selling market treasury bills worth Rs 527 billion in an auction, surpassing the initial target of Rs 225 billion.
(more…)Karachi, March 6, 2024 – The State Bank of Pakistan (SBP) Governor, Jameel Ahmad, spearheaded the opening session of the SAARCFINANCE Seminar in Islamabad, focusing on the ‘Potential Role of Big Data in Economic Policy.’
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Karachi, Pakistan – March 6, 2024 – Habib Bank Limited (HBL) expects the benchmark interest rate in Pakistan to be reduced to 17% by the end of 2024.
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Karachi, March 6, 2024 – Standard Chartered Bank Pakistan Limited has recently disclosed that it paid a substantial penalty of Rs 143 million due to regulatory violations, as per a report released by the financial institution.
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