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 30, 2023 – The Exchange Companies Association of Pakistan (ECAP) has released data revealing a massive fall in the Pakistani Rupee (PKR) against major foreign currencies throughout 2023.
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Karachi, December 30, 2023 – The State Bank of Pakistan (SBP) has unveiled its latest Quarterly Payment Systems Report, showcasing the dynamic landscape of the country’s payment ecosystem during the first quarter of the fiscal year 2023-24.
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Karachi, December 29, 2023 – In an effort to ease the tax collection process and accommodate taxpayers, banks in Pakistan are set to extend their working hours on the last two weekly holidays of 2023, December 30 and 31.
(more…)Karachi, December 29, 2023 – The State Bank of Pakistan (SBP) took a significant step towards enhancing customer satisfaction on Friday by launching a dedicated portal, ‘Sunwai,’ aimed at streamlining the process of lodging complaints against banks, microfinance banks (MFBs), and development financial institutions (DFIs).
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Karachi, December 29, 2023 – The Pakistani Rupee (PKR) concluded the year 2023 on a positive note, registering a gain of PKR 0.07 against the US dollar, bolstered by an increase in foreign exchange reserves.
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Karachi, December 29, 2023 – In an official announcement, the State Bank of Pakistan (SBP) declared a bank holiday on January 1, 2024.
(more…)Karachi, December 28, 2023 – The Pakistani Rupee (PKR) made a modest gain of PKR 0.27 against the US dollar on Thursday, driven by robust foreign currency demand for imports and corporate payments.
(more…)Karachi, December 27, 2023 – Financial analysts at Topline Securities Limited have characterized 2023 as a somber year for the Pakistani Rupee (PKR), which experienced a significant 20 percent depreciation against the US dollar.
(more…)Karachi, December 27, 2023 – The State Bank of Pakistan (SBP) has issued crucial instructions to banks regarding International Toll Manufacturing (ITM) under the Export Facilitation Scheme (EFS).
(more…)Karachi, December 27, 2023 – The Pakistani Rupee (PKR) inched up by PKR 0.17 against the US dollar on Wednesday amid heavy foreign currency demand for import and corporate payments.
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