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 14, 2024 – In a significant economic development, Pakistan has experienced a notable 10.59 percent decline in investments in saving certificates issued by the Central Directorate of National Savings (CDNS).
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Karachi, February 13, 2024 – In a significant move, Pakistan has suspended the operations of several foreign exchange companies for serious violations of regulations.
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Karachi, February 13, 2024 – Allied Bank Limited (ABL) announced a remarkable surge of 94% in its annual profit for the calendar year 2023, demonstrating robust financial performance amidst dynamic market conditions.
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Karachi, February 13, 2024 – The Pakistani Rupee (PKR) managed a nominal gain of PKR 0.02 against the US dollar on Tuesday, marking a subtle shift in the foreign exchange landscape.
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Karachi, February 12, 2024 – The US Dollar strengthened against the Pakistani Rupee (PKR) by 0.05 in Monday’s trading, reflecting the increasing political turmoil in Pakistan following the post-general elections.
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Karachi, February 12, 2024 – The State Bank of Pakistan (SBP) reported on Monday that the inflow of workers’ remittances has witnessed a decline to $15.82 billion during the first seven months (July – January) of the fiscal year 2023-24.
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Karachi, February 12, 2024 – Unclaimed prize bonds worth a staggering Rs 4.77 billion are still up for grabs as the State Bank of Pakistan (SBP) extends the deadline for conversion until June 30, 2024.
(more…)Karachi, February 11, 2024 – In a bid to strengthen its human resource foundation, the State Bank of Pakistan (SBP) has announced the initiation of hiring for assistant directors under the Officers Training Scheme (SBOTS) – 26th Batch.
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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.
(more…)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.
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