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, February 11, 2024 – In a significant development, the State Bank of Pakistan (SBP) has imposed a monetary penalty of Rs 136 million on Bank Alfalah for various regulatory violations during the calendar year 2023, according to official documents.
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Karachi, February 11, 2024 – Analysts foresee potential challenges to exchange rate stability in the coming week, starting February 12, 2024, as a result of post-election political uncertainty in Pakistan.
(more…)Karachi, February 9, 2024 – The Pakistani Rupee (PKR) demonstrated resilience on Friday by gaining PKR 0.06 against the US dollar in post-election trading.
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Karachi, February 9, 2024 – The sales tax collection on banking services in Pakistan saw a remarkable growth of over 17 percent during the fiscal year 2022-23, as indicated by a report released by the Sindh Revenue Board (SRB) on Friday.
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Karachi, February 7, 2024 – The Pakistani Rupee (PKR) continued its upward trajectory against the US dollar on Wednesday, closing at PKR 279.34 in the interbank foreign exchange market.
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Karachi, February 7, 2024 – Faysal Bank Limited has reported an impressive 77% surge in profit after tax for the calendar year 2023, marking a substantial increase from the preceding year.
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Karachi, February 6, 2024 – MCB Bank, one of Pakistan’s leading financial institutions, has announced its highest-ever profit and dividends for the calendar year 2023, according to analysts at Arif Habib Limited.
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Karachi, February 6, 2024 – In a significant move to facilitate the democratic process, the State Bank of Pakistan (SBP) on Tuesday announced Bank Holiday on Thursday, February 8, 2024. This decision comes as a result of the upcoming general elections in Pakistan, scheduled for the same day.
(more…)Karachi, 6th February 2024 – The Pakistani Rupee (PKR) saw a marginal decline, closing at PKR 279.42 against the US dollar in the interbank foreign exchange market on Tuesday.
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Karachi, February 5, 2024 – JS Bank, a prominent financial institution in Pakistan, has incurred a monetary penalty of Rs 45.51 million for regulatory violations during the calendar year 2023.
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