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, February 28, 2024 – Bank Alfalah, one of Pakistan’s prominent banking institutions, has set aside a substantial sum of Rs 3.6 billion as a precautionary measure in anticipation of potential windfall tax payments.
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Karachi, February 28, 2024 – In a recent corporate briefing, MCB Bank has set its sights on a potential reduction of up to 3 percent in the existing policy rate of 22 percent during the current calendar year, according to insights provided by analysts at Arif Habib Limited.
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Karachi, February 28, 2024 – The Pakistani Rupee (PKR) experienced a gain of PKR 0.16 against the US Dollar on Wednesday, closing at PKR 279.12 in the interbank foreign exchange market.
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Karachi, February 27, 2024 – In a volatile trading session, the US Dollar witnessed a gain against the Pakistani Rupee, closing at PKR 279.28 in the interbank foreign exchange market on Tuesday.
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Karachi, February 26, 2024 – The State Bank of Pakistan (SBP) reported a significant surge in bank deposits, reaching a staggering Rs 27.54 trillion by the end of January 2024, marking a substantial 21% year-on-year growth.
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Burewala, February 26, 2024 –Habib Bank Limited (HBL) unveiled its latest venture, HBL Zarai Services, in Burewala on Monday for advancing agricultural development and bolstering food security in Pakistan,
(more…)Karachi, February 26, 2024 – The US Dollar witnessed a decline against the Pakistani Rupee (PKR) by 0.16 at the interbank closing on Monday, attributed to recent relaxations granted to exporters in the utilization of foreign exchange.
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Karachi, February 26, 2024 – United Bank Limited (UBL) is optimistic about a favorable outcome regarding the penalty of Rs 4.09 billion imposed by the State Bank of Pakistan (SBP), as disclosed in its annual financial statement for the calendar year 2023.
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Karachi, February 25, 2024 – The banking sector in Pakistan has witnessed a remarkable surge, with financial institutions reporting an impressive 83% growth in profit after tax for the calendar year 2023, thanks to the record high interest rates prevailing in the country.
(more…)Karachi, February 25, 2024 – Anticipated to remain steady, the Pakistani Rupee (PKR) is poised for stability in the upcoming week commencing February 26, 2024.
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