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.
Islamabad, March 14, 2024 – Pakistan has given the green light for the acquisition of a local microfinance bank by a Dutch-based holding company, marking a significant development in the country’s financial landscape.
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Karachi, March 14, 2024 – In response to challenging economic conditions, bank deposits held by salary earners have surged by an impressive 25 percent, reaching a staggering Rs 3.77 trillion by the end of February 2024, according to official data released on Thursday.
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Karachi, March 14, 2024 – The interbank market closed with stability in the exchange rate between the Pakistani Rupee (PKR) and the US Dollar on Thursday.
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Karachi, March 13, 2024 – In a testament to the digital transformation sweeping Pakistan, the State Bank of Pakistan (SBP) announced on Wednesday that the number of mobile banking users in the country reached an impressive 16 million by the close of December 31, 2023.
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Karachi, March 13, 2024 – In a surprising turn of events, the Pakistani Rupee (PKR) exhibited resilience by strengthening against the US dollar, marking an increase of PKR 0.29.
(more…)Karachi, March 13, 2024 – The State Bank of Pakistan (SBP) has launched an investigation to ascertain the circumstances surrounding the circulation of misprinted Rs 1,000 denomination currency notes.
(more…)Karachi, March 12, 2024 – Recent data released by the State Bank of Pakistan (SBP) on Tuesday reveals a staggering 104 percent surge in government bank borrowing, reaching Rs 4.13 trillion during the first eight months (July – February) of the fiscal year.
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Karachi, March 12, 2024 – Analysts at Arif Habib Limited have suggested that the State Bank of Pakistan (SBP) is likely to implement a 100 basis points cut in the benchmark policy rate in the upcoming Monetary Policy Statement (MPS), reducing it to 21 percent from the existing 22 percent.
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Karachi, March 12, 2024 – Official data released on Tuesday reveals that bank deposits in Pakistan have surged to an unprecedented high of Rs 27.89 trillion by the end of February 2024.
(more…)Karachi, March 12, 2024: In anticipation of the forthcoming holy month of Ramadan ul Mubarak, all banks across Pakistan will observe a bank holiday today, March 12, 2024.
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