Jun 29

Meezan Bank installs 1000th ATM

KARACHI: Meezan Bank, Pakistan’s leading Islamic bank, has installed its 1,000th Automated Teller Machine (ATM). This landmark cash dispensing terminal has been installed at Chashma in District Mianwali, a press statement said on Wednesday. READ MORE: Meezan Bank leads Rs1 bn finance for solar project Since its inception, the Bank has expanded its ATMs across […]

by Hamza Shahnawaz

Dollar slips to end at Rs205.12 in interbank

Jun 29

Money & Banking

Dollar slips to end at Rs205.12 in interbank

KARACHI: Pakistan Rupee (PKR) gained Rs1.75 against the US dollar on Wednesday to close at Rs205.12 in the interbank foreign exchange market. The exchange rate witnessed an appreciation of Rs1.75 to Rs205.12 against the dollar from previous day close of Rs206.87 in the interbank foreign exchange market. READ MORE: Rupee recovers sharply on expected IMF […]

by Faisal Shahnawaz

Pakistan banks to remain closed on July 01, 2022

Jun 29

Money & Banking

Pakistan banks to remain closed on July 01, 2022

KARACHI: Pakistan banks will observe holiday on July 01, 2022 for financial close, a statement said on Wednesday. The State Bank of Pakistan (SBP) issued a circular in this regard addressing the president and chief executives of all banks, development financial institutions and microfinance banks. READ MORE: Standard Chartered facilitated by BenchMatrix The central bank […]

by Hamza Shahnawaz

Standard Chartered facilitated by BenchMatrix

Jun 28

Money & Banking

Standard Chartered facilitated by BenchMatrix

KARACHI: BenchMatrix has successfully facilitated Standard Chartered Bank Pakistan (SCBPL) in the installation and implementation of its RiskNucleus GRC, with the goal to digitize the Bank’s compliance risk management processes. The implementation of this comprehensive solution will assist Standard Chartered in holistically managing compliance processes and ensure regulatory compliance. The solution is a well-integrated system […]

by Faisal Shahnawaz

Rupee recovers sharply on expected IMF inflows

Jun 28

Money & Banking, Top stories

Rupee recovers sharply on expected IMF inflows

KARACHI: The Pakistan Rupee (PKR) made sharp recovery of Rs1.07 against the dollar on Tuesday amid expectation of $2 billion inflows from the International Monetary Fund (IMF). The exchange rate ended at Rs206.87 to the dollar from previous day’s closing of Rs207.94 in the interbank foreign exchange market. READ MORE: Rupee falls 46 paisas to […]

by Faisal Shahnawaz

Pakistan-issued prize bonds expire on June 30, 2022

Jun 27

Money & Banking, Top stories

Pakistan-issued prize bonds expire on June 30, 2022

KARACHI: The prize bonds of various denominations issued by the government of Pakistan are expiring on June 30, 2022. So far no decision came from the finance ministry to extend the last date for exchanging bearer prize bonds. The federal government has already extended the last date for converting or exchanging the bearer prize bonds […]

by Faisal Shahnawaz

Rupee falls 46 paisas to dollar despite Chinese inflows

Jun 27

Money & Banking, Top stories

Rupee falls 46 paisas to dollar despite Chinese inflows

KARACHI: The Pakistan Rupee (PKR) fell 46 paisas against the US dollar on Monday despite inflows received from China. The exchange rate recorded a decline of 46 paisas to end at Rs207.94 to the dollar from last Friday’s closing of Rs207.48 in the interbank foreign exchange market. READ MORE: Dollar gains 25 paisas to PKR […]

by Faisal Shahnawaz

SBP seeks Supreme Court guidance on Riba case judgement

Jun 25

Money & Banking, National, Top stories

SBP seeks Supreme Court guidance on Riba case judgement

KARACHI: The State Bank of Pakistan (SBP) on Saturday said it had approached Shariat Appelate Bench of the Supreme Court for guidance on decision of Federal Shariat Court in Riba case. In a statement the central bank said the SBP welcomes the Federal Shariat Court’s Judgement of April 28, 2022 on Riba case, as has […]

by Hamza Shahnawaz

Dollar gains 25 paisas to PKR on forex reserves decline

Jun 24

Money & Banking

Dollar gains 25 paisas to PKR on forex reserves decline

KARACHI: The US dollar gained 25 paisas against the Pakistan Rupee (PKR) on Friday as foreign exchange reserves of the country further declined. The exchange rate ended at Rs207.48 to the dollar from previous day’s closing of Rs207.23 in the interbank foreign exchange market. The rupee fell a day after making sharp recover of Rs4.70 […]

by Faisal Shahnawaz

Dollar retreats to Rs207.23 at interbank closing

Jun 23

Money & Banking, Top stories

Dollar retreats to Rs207.23 at interbank closing

KARACHI: The US dollar retreated against the Pakistan Rupee (PKR) on Thursday after the country entered in a deal of $2.3 billion, which is likely to be transferred in a day. The rupee gained Rs4.70 to end at Rs207.23 to the dollar from previous day’s closing at Rs211.93 in interbank foreign exchange market. The rupee […]

by Faisal Shahnawaz