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, November 10, 2023 – The Pakistani Rupee (PKR) continued its downward trend for the 14th consecutive session against the US dollar, closing at PKR 287.03 on Friday.
(more…)
Karachi, November 10, 2023 – Bank deposits in Pakistan have hit new peak at Rs 26.40 trillion by the end of October 2023, according to official data released on Friday by the State Bank of Pakistan (SBP).
(more…)
Karachi, November 10, 2023 –Pakistan has recorded a substantial 11.54% increase in foreign remittances, reaching $2.46 billion in October 2023. This surge, as reported by the State Bank of Pakistan (SBP) on Friday, is attributed to the government’s robust crackdown against currency smuggling and hoarding.
(more…)
Karachi, November 8, 2023 – In response to the Punjab government’s public holiday declaration on Friday, November 10, 2023, due to the severe smog situation, the State Bank of Pakistan (SBP) has directed all commercial banks and microfinance institutions (MFIs) to close their branches in affected areas of the province.
(more…)Karachi, November 08, 2023 – The Pakistani Rupee (PKR) continued its losing streak, marking its 13th consecutive decline to end at PKR 286.90 against the US dollar on Wednesday.
(more…)
Karachi, November 8, 2023 – In a startling revelation, official data from the State Bank of Pakistan (SBP) has shown that discontinued bearer prize bonds worth a staggering Rs 5 billion remain unclaimed as of September 30, 2023.
(more…)Karachi, November 07, 2023 – The Pakistani Rupee (PKR) extended its losing streak, recording its 12th consecutive decline to close at PKR 286.39 against the US dollar on Tuesday.
(more…)
Karachi, November 7, 2023 – United Bank Limited (UBL) has been embroiled in a legal dispute with the State Bank of Pakistan (SBP) since 2016 over a penalty totaling Rs 4.09 billion.
(more…)Karachi, November 6, 2023 – The Pakistani Rupee (PKR) continued its downward trajectory, wrapping up its 11th consecutive decline at PKR 285.29 against the US dollar on Monday.
(more…)