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, May 1, 2024 – Habib Bank Limited (HBL) has been identified as the bank with the highest number of customer complaints in Pakistan for the year 2023, according to the Annual Report released by Banking Mohtasib Pakistan.
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Karachi, April 30, 2024 – The Pakistani Rupee appreciated marginally against the US Dollar, closing at PKR 278.31 in the interbank foreign exchange market on Tuesday, buoyed by the recent approval of a $1.1 billion tranche by the International Monetary Fund (IMF).
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Karachi, April 29, 2024 – Banking Mohtasib Pakistan (BMP) revealed a 21% increase in complaints against commercial banks for the year 2023, as reported in a press conference held at the Institute of Bankers Pakistan.
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Karachi, April 29, 2024 – Standard Chartered Bank Pakistan Limited (SCBPL) has announced a significant 53% growth in profit before tax (PBT), reaching Rs 24.7 billion for the first quarter of 2024, a robust indicator of the bank’s financial health and operational efficiency.
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Karachi, April 29, 2024 – The State Bank of Pakistan (SBP) has decided to maintain its benchmark policy rate at 22 percent, the bank’s Monetary Policy Committee (MPC) announced after its meeting today.
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Karachi, April 29, 2024 – The Pakistani Rupee edged down slightly against the US Dollar in Monday’s trading session, with the closing rate marked at PKR 278.40 in the interbank market. This represents a minute depreciation from its previous close of PKR 278.39 on Friday.
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Karachi, April 29, 2024 – In alignment with the national observance of Labor Day, the State Bank of Pakistan (SBP) has officially declared a bank holiday on May 1, 2024.
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Karachi, April 28, 2024 – Faysal Bank Limited has revealed a doubling of its profit after tax for the first quarter of the calendar year 2024, in comparison to the same period in 2023.
(more…)Karachi, April 28, 2024 – Financial analysts are projecting a stable outlook for the Pakistani Rupee in the upcoming week, bolstered by anticipated foreign capital inflows which may aid in balancing the recent pressures faced by the currency.
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Islamabad, April 27, 2024 – In an innovative step towards educational financing, the Securities and Exchange Commission of Pakistan (SECP) has awarded the first-ever license for a digital study loan service to M/s Edufi Financial Services (Private) Limited.
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