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, March 19, 2024 – The Pakistani Rupee closed firmer against the US Dollar at PKR 278.64 in the interbank foreign exchange market today, marking a marginal gain compared to the previous day’s closing of PKR 278.63.
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Islamabad, March 18 – The Securities and Exchange Commission of Pakistan (SECP) has taken a significant step in regulating the digital lending sector by issuing comprehensive guidelines for Non-Banking Financial Companies (NBFCs) engaged in digital lending activities.
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Karachi, March 18, 2024 – The State Bank of Pakistan (SBP) has announced the decision to maintain the benchmark policy rate at 22 percent, citing concerns about the risk of inflation uptick in the country.
(more…)Karachi, March 18, 2024 – The Pakistani Rupee demonstrated resilience on Monday as it appreciated by PKR 0.11 against the US Dollar in the interbank foreign exchange market.
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In the wake of ongoing negotiations with the International Monetary Fund (IMF), analysts predict the Pakistani Rupee (PKR) to maintain its stability against the US Dollar in the upcoming week, commencing from March 18.
(more…)Karachi, March 16, 2024 – Recent speculation regarding the potential introduction of plastic banknotes in Pakistan has been firmly addressed by the State Bank of Pakistan (SBP), which issued a statement on Saturday refuting any such plans.
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Karachi, March 15, 2024 – The State Bank of Pakistan (SBP) announced on Friday that it will unveil its monetary policy on Monday, March 18, 2024.
(more…)Karachi, March 15, 2024 – The US Dollar experienced a decline against the Pakistani Rupee on Friday, settling at PKR 278.74 at the interbank foreign exchange market.
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Islamabad, March 14, 2024 – Pakistan has given the green light for the acquisition of a local microfinance bank by a Dutch-based holding company, marking a significant development in the country’s financial landscape.
(more…)Karachi, March 14, 2024 – In response to challenging economic conditions, bank deposits held by salary earners have surged by an impressive 25 percent, reaching a staggering Rs 3.77 trillion by the end of February 2024, according to official data released on Thursday.
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