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, January 31, 2024 – In a recent announcement, the State Bank of Pakistan (SBP) declared that all banks will remain closed on February 5, 2024, in observance of Kashmir Day.
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Karachi, January 30, 2024 – In a significant move aimed at facilitating trade and commerce, the State Bank of Pakistan (SBP) has granted approval for 100 percent advance payment for imports.
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Karachi, January 30, 2024 – In a positive turn of events, the Pakistani Rupee (PKR) strengthened by PKR 0.09 against the US dollar on Tuesday, reaching PKR 279.55 in the interbank foreign exchange market.
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Karachi, January 30, 2024 – In a bid to infuse creativity and innovation into the national currency, the State Bank of Pakistan (SBP) has announced an art competition inviting local artists, designers, and art students to contribute their ideas for the upcoming new series of banknotes.
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Karachi, January 30, 2024 – Raqami Islamic Digital Bank (RIDB) has achieved a significant milestone by securing a No Objection Certificate (NOC) and In-Principal Approval (IPA) from the State Bank of Pakistan (SBP) to establish an Islamic digital retail bank.
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Karachi, January 30, 2024 – Mobilink Microfinance Bank Limited is facing the repercussions of breaching Anti-Money Laundering (AML) and Combating of Terror Financing (CFT) regulations, as the State Bank of Pakistan (SBP) has imposed a substantial penalty of Rs 35.11 million.
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Karachi, January 29, 2024 – In a significant move to uphold regulatory compliance in the banking sector, Pakistan has imposed a substantial monetary penalty totaling Rs 465 million on 10 commercial banks.
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Karachi, January 29, 2024 – In a move aligning with global trends, the State Bank of Pakistan (SBP) has decided to introduce a new series of currency notes, boasting enhanced security features.
(more…)Karachi, January 29, 2024 – In a highly anticipated decision, the State Bank of Pakistan (SBP) announced on Monday that it will keep the benchmark policy rate unchanged at 22 percent.
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Karachi, January 29, 2024 – The Pakistani Rupee (PKR) experienced a slight decline of PKR 0.05 against the US Dollar on Monday, marking the beginning of the trading week.
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