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, April 27, 2024 – Financial circles are abuzz as the State Bank of Pakistan (SBP) is widely anticipated to hold its policy rate steady at 22 percent in the forthcoming monetary policy announcement scheduled for April 29, 2024.
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KARACHI, April 26, 2024 – In a modest yet positive move, the Pakistani Rupee edged higher against the US dollar, appreciating by PKR 0.09 to close at PKR 278.39 in the interbank foreign exchange market on Friday.
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The Bank of Japan (BOJ) concluded its two-day policy meeting on Friday with the decision to keep its policy rate unchanged, a move that further pressured the Japanese yen, driving it to a 34-year low against the U.S. dollar.
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Karachi, April 27, 2024 – In an impressive financial surge, BankIslami Pakistan Limited announced a stellar 80 percent year-on-year growth in its profits for the first quarter of 2024.
(more…)Karachi, April 25, 2024 – In a slight shift in the forex market, the US dollar edged higher against the Pakistani Rupee, closing at PKR 278.48 in the interbank exchange on Thursday.
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MCB Bank Limited (MCB) has announced a substantial profit before tax (PBT) of Rs 32.5 billion for the first quarter ending March 31, 2024, marking a significant 41% increase from the previous year.
(more…)Karachi, April 24, 2024 – The Pakistani Rupee slightly weakened, closing at PKR 278.40 against the US dollar in the interbank foreign exchange market on Wednesday. This represents a marginal decline from Tuesday’s close of PKR 278.38.
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KARACHI: Allied Bank Limited (ABL) has announced a substantial 51% increase in its after-tax profit for the first quarter ended March 31, 2024, reaching Rs 11.6 billion.
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KARACHI: Bank Alfalah Limited, one of Pakistan’s prominent financial institutions, announced a slight downturn in its profits for the first quarter ended March 31, 2024, on Wednesday.
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In a striking development for Pakistan’s economy, government borrowing has hit an unprecedented high of Rs 5.301 trillion for the fiscal period from July 1, 2023, to April 12, 2024.
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