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, October 27, 2023 – In a concerning trend, the Pakistani Rupee (PKR) continued its slide against the US Dollar for the fifth consecutive day, closing at PKR 280.57 in the interbank foreign exchange market.
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Karachi, October 26, 2023 – Standard Chartered Bank Pakistan has reported exceptional financial results, achieving a record profit before tax of Rs 63 billion for the nine months ending on September 30, 2023.
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Karachi, October 26, 2023 – The State Bank of Pakistan (SBP) has taken a significant step to combat money laundering and terrorist financing by making biometric verification mandatory for all branchless banking (BB) transactions.
(more…)Karachi, October 26, 2023 – The Pakistani Rupee (PKR) saw a decline for the fourth successive session against the US dollar, marking a significant setback for the country’s currency.
(more…)Karachi, October 25, 2023 – The Pakistani Rupee experienced its third consecutive decline against the US dollar on Wednesday, signaling increased pressure on the country’s import payments.
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Karachi, October 25, 2023 – MCB Bank, a prominent financial institution in Pakistan, has made a stunning announcement with a remarkable 134 percent growth in after-tax profit for the nine-month period ending on September 30, 2023.
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Karachi, October 25, 2023 – United Bank Limited (UBL), one of Pakistan’s leading financial institutions, has reported a staggering 126 percent year-on-year (YoY) profit growth in the third quarter of 2023, ending on September 30.
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Karachi, October 25, 2023 – The National Bank of Pakistan (NBP) has reported a remarkable after-tax profit of PKR 12.3 billion for the third quarter of 2023, demonstrating an astonishing 76% year-on-year (YoY) increase.
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KARACHI, October 25, 2023 – The State Bank of Pakistan (SBP) has recently made updates to the list of eligible audit firms for conducting audits of banks and financial institutions.
(more…)Karachi, October 24, 2023 – The State Bank of Pakistan (SBP) has taken strict measures against four commercial banks, imposing a total monetary penalty of Rs 83.16 million due to regulatory violations.
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