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 1, 2023 – The State Bank of Pakistan (SBP) announced on Friday that a remarkable 98% of depositors in the country are fully protected, ensuring their financial security even in the unlikely event of a bank’s failure.
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Karachi, December 1, 2023 – The Pakistani Rupee (PKR) exhibited resilience on Friday as it strengthened against the US dollar, reaching PKR 284.97 in the interbank foreign exchange market.
(more…)Karachi, November 30, 2023 – The Pakistani Rupee (PKR) strengthened its position against the US Dollar on Thursday, closing at PKR 285.17 in the interbank foreign exchange market.
(more…)Karachi, November 29, 2023 – The Pakistani Rupee (PKR) witnessed a positive shift on Wednesday, appreciating by PKR 0.13 against the U.S. Dollar as the interbank foreign exchange market concluded its trading session.
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Islamabad, November 29, 2023 – President of Pakistan, Dr. Arif Alvi, has directed Allied Bank Ltd (ABL) to compensate a customer, Ameer Ali Wasan, with Rs 344,600, following the fraudulent transfer of funds from his account. The decision upholds the orders of the Banking Mohtasib, who had earlier instructed ABL to refund the defrauded amount.
(more…)Karachi, November 28, 2023 – The Pakistani Rupee (PKR) staged a recovery on Tuesday against the U.S. Dollar, breaking a three-day downward trend. The rupee gained strength by PKR 0.12, reaching PKR 285.52 against the greenback in the interbank foreign exchange market, compared to the previous day’s closing rate of PKR 285.64.
(more…)KARACHI, November 27, 2023 – The Pakistani Rupee (PKR) experienced a decline against the U.S. Dollar on Monday, concluding at PKR 285.64 in the interbank foreign exchange market.
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KARACHI, November 27, 2023 – Federal Banking Ombudsman Sirajuddin Aziz emphasized the pivotal role of technological solutions and customer awareness in tackling the escalating incidents of financial crimes in the country.
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Karachi, November 26, 2023 – The Pakistani Rupee (PKR) is anticipated to remain under pressure against the U.S. dollar in the upcoming week starting November 27, 2023, as currency analysts suggest a narrow trading range due to mixed economic signals impacting the country’s currency.
(more…)Karachi, November 24, 2023 – The Pakistani Rupee (PKR) witnessed a depreciation of PKR 0.10 against the US Dollar on Friday, closing at PKR 285.37 in the interbank foreign exchange market.
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