Aug 15

Dollar falls for ten straight days against Pakistani Rupee; ends at Rs213.98

KARACHI: The US dollar continued to fall against the Pakistani Rupee (PKR) for ten straight trading days on Monday to end at Rs213.98 in the interbank foreign exchange market. The exchange rate recorded a gain of Rs1.51 to end at Rs213.98 against the dollar from last Friday’s closing of Rs215.49 in the interbank foreign exchange […]

by Faisal Shahnawaz

Faysal Bank celebrates 75th Pakistan Independence Day

Aug 14

Money & Banking, National

Faysal Bank celebrates 75th Pakistan Independence Day

KARACHI: Faysal Bank Limited (FBL) celebrated Pakistan’s 75th Independence Day by organizing flag hoisting ceremony on Sunday. The heartwarming ceremony took place on the bank’s iconic branch located at Abdullah Haroon Road. The celebrations of the 75th anniversary required a platinum edge, therefore FBL decided to showcase Pakistan’s inclusivity by inviting the Special Olympic athletes […]

by Faisal Shahnawaz

Pakistan issues Rs75 banknote to celebrate Independence Day

Aug 14

Money & Banking, National, Top stories

Pakistan issues Rs75 banknote to celebrate Independence Day

KARACHI: State Bank of Pakistan (SBP) on Sunday issued Rs75 commemorative banknote to celebrate 75th Independence Day. Acting Governor State Bank of Pakistan (SBP) Dr. Murtaza Syed unveiled the Rs75 Commemorative Banknote to mark the 75 years of Pakistan’s Independence in a graceful ceremony held at the SBP Museum, Karachi on August 14, 2022. He […]

by Hamza Shahnawaz

SBP automates verification of refinance claims

Aug 12

Money & Banking

SBP automates verification of refinance claims

KARACHI: The State Bank of Pakistan (SBP) on Friday announced the automation of verification of refinance clams under the Export Finance Scheme (EFS). Automated verification will significantly enhance the efficiency of refinance operations and improve exporters’ access to liquidity, the central bank added. READ MORE: Interest rates on export, business loans enhanced to 10% With […]

by Hamza Shahnawaz

Dollar plummets to Rs215.49 against Pakistani Rupee on August 12, 2022

Aug 12

Money & Banking, Top stories

Dollar plummets to Rs215.49 against Pakistani Rupee on August 12, 2022

KARACHI: The US dollar plummeted by Rs3.39 against the Pakistani Rupee to Rs215.49 on Friday August 12, 2022 in interbank foreign exchange market. The rupee appreciated to Rs215.49 to the dollar from previous day’s closing of Rs218.88 in the interbank foreign exchange market. The local units gained about Rs24.45 or 10.19 per cent during past […]

by Faisal Shahnawaz

Meezan Bank posts 36% growth in half year profit

Aug 11

Corporate, Money & Banking

Meezan Bank posts 36% growth in half year profit

KARACHI: Meezan Bank Limited on Thursday declared 36 per cent increase in after tax profit for the half year ended June 30, 2022. The bank announced its financial results for the first half (January – June) 2022 where the bank reported consolidated net profit after tax of Rs17.1 billion compared to Rs12.7 billion in the […]

by Faisal Shahnawaz

Dollar continues to fall against PKR; ends at Rs218.88

Aug 11

Money & Banking, Top stories

Dollar continues to fall against PKR; ends at Rs218.88

KARACHI: The US dollar continued to fall against the Pakistan Rupee (PKR) on Thursday and ended at Rs218.88 in the interbank foreign exchange market. The exchange rate witnessed an increase of Rs3.06 in the rupee value to end at Rs218.88 from previous day’s closing of Rs221.94 in the interbank foreign exchange market. READ MORE: Rupee […]

by Faisal Shahnawaz

Aug 10

Money & Banking

Rupee jumps to Rs221.91 against dollar

KARACHI: The Pakistani rupee recovered Rs2.13 against the US dollar on Wednesday to close at Rs221.91 at closing of interbank foreign exchange market. Previously, the exchange rate closed at Rs224.04 to the dollar on August 05, 2022. READ MORE: Pakistani rupee extends gain to dollar for sixth session The rupee continued the gain for seventh […]

by Faisal Shahnawaz

US Treasury sanctions virtual currency mixer Tornado Cash

Aug 8

Money & Banking, World

US Treasury sanctions virtual currency mixer Tornado Cash

WASHINGTON: The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) Monday sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019. This includes over $455 million stolen by the Lazarus Group, a Democratic People’s Republic of Korea […]

by Mrs. Anjum Shahnawaz

National Savings stops profit coupons after August 31, 2022

Aug 7

Money & Banking, Top stories

National Savings stops profit coupons after August 31, 2022

ISLAMABAD: The Central Directorate of National Savings (CDNS) has announced that it will not issue profit for various savings schemes through coupons. In a public notice, the CDNS said that laws have been amended related to regular income certificates, Behbood Saving Certificates and Pensioners Benefit Account. READ MORE: Pakistan increases profit rates for saving accounts […]

by Hamza Shahnawaz