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, December 7, 2023: Meezan Bank, the vanguard of Islamic banking in Pakistan, has entered into a formalized partnership with Befiler, heralding a new era in the provision of tax facilitation services for freelancers.
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Karachi, December 7, 2023 – The Pakistani Rupee (PKR) concluded Thursday on a positive note, exhibiting resilience against the US dollar by closing at PKR 284.12 in the interbank foreign exchange market.
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Karachi, December 7, 2023 – The government’s borrowing from banks has witnessed a substantial increase, surging by 154 percent during the first four months of the current fiscal year.
(more…)Karachi, December 6, 2023 – The Pakistani Rupee (PKR) experienced a gain of PKR 0.24 against the US Dollar on Wednesday, closing at PKR 284.14 in the interbank foreign exchange market.
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Karachi, December 5, 2023 –The State Bank of Pakistan (SBP) officially unveiled the Raast Person to Merchant (P2M) Service on Tuesday for advancing digital payment solutions in Pakistan.
(more…)Karachi, December 5, 2023 – In a strategic move to foster innovation in the digital financial services (DFS) sector, the State Bank of Pakistan (SBP) unveiled a draft regulatory sandbox on Tuesday, encouraging stakeholders to provide feedback before the finalization of the regulatory and technical sandboxes.
(more…)Karachi, December 5, 2023 – The Pakistani Rupee (PKR) exhibited a positive trend on Tuesday, recording a gain of PKR 0.15 against the US dollar at the close of the interbank foreign exchange market.
(more…)Karachi, December 4, 2023 – The Pakistani Rupee (PKR) has marked the commencement of the week with a notable appreciation, strengthening by PKR 0.44 against the US Dollar in Monday’s trading.
(more…)Karachi, December 3, 2023 – Anticipation of the International Monetary Fund’s (IMF) approval of the next $700 million tranche under its $3 billion Extended Fund Facility (EFF) arrangement has fueled optimism in Pakistan’s currency market, leading to a strengthening of the rupee against the dollar.
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Karachi, December 2, 2023 – A recent survey indicates that the State Bank of Pakistan (SBP) is unlikely to alter its existing policy rate of 22 percent in the upcoming Monetary Policy Committee (MPC) meeting scheduled for December 12, 2023.
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