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, September 15, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by deciding to impose penalties on banks for their failure to provide details of account holders, according to official sources.
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Karachi, September 15, 2023 – Meezan Bank Limited, in a significant strategic move, has announced its intention to establish an Exchange Company.
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Karachi, September 14, 2023 – In a surprising move, the State Bank of Pakistan (SBP) announced on Thursday that it would maintain the benchmark policy rate at the existing level of 22 percent, contrary to various forecasts of an anticipated rate hike.
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Karachi, September 14, 2023 – The Pakistani Rupee (PKR) continued its remarkable winning streak against the US Dollar for the seventh consecutive session, closing at PKR 297.96 to the dollar, marking a significant gain of 86 paisas compared to Rs 298.82 in the interbank foreign exchange market.
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Karachi, September 14, 2023 – The value of the US dollar continues to decrease in midday interbank trading, bringing positive news for Pakistan’s economy.
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Karachi, September 13, 2023 –Malik Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), has expressed optimism that the Pakistani Rupee (PKR) may strengthen to PKR 250 against the US Dollar following a massive crackdown on currency smuggling and hoarding.
(more…)Karachi, September 13, 2023 – The Pakistani Rupee (PKR) continued its sixth consecutive gain against the US dollar in the interbank foreign exchange market on Wednesday.
(more…)Karachi, September 13, 2023 – The US dollar value has declined to PKR 298.50 during intraday trading at the interbank foreign exchange market on Wednesday.
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Karachi, September 13, 2023 – Government borrowing from banks has seen a substantial surge of 72 percent during the initial two months of the fiscal year 2023-24, as revealed by official data released on Tuesday.
(more…)Karachi, September 12, 2023 – Pakistan’s bank deposits have surged to a historic high, reaching Rs 26.11 trillion by the end of August 2023, as per data released by the State Bank of Pakistan (SBP) on Tuesday.
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