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 27, 2023 – In a move to facilitate the resubmission of claims under duty drawback schemes, the State Bank of Pakistan (SBP) has directed commercial banks to keep their branches open on Saturday, September 30, 2023.
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Karachi, September 27, 2023 – The Pakistani Rupee (PKR) continued its impressive winning streak against the US dollar, with the exchange rate hitting PKR 288.70 during intraday trading on Wednesday.
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Karachi, September 26, 2023 – In an unprecedented winning streak, the Pakistani Rupee (PKR) has made a remarkable gain of 5.6 percent against the US dollar, marking a significant shift in its exchange rate.
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Karachi, September 26, 2023 – Pakistan has officially announced a bank holiday on September 29, 2023, in honor of Eid Milad-un-Nabi (Sallallahu Alayhi Wa-Sallam), a significant Islamic holiday that celebrates the birth of the Prophet Muhammad (Peace Be Upon Him).
(more…)KARACHI, September 25, 2023 – The State Bank of Pakistan (SBP) announced on Monday that it has suspended the authorization of two exchange companies for violations of regulatory guidelines.
(more…)Karachi, September 25, 2023 – The Pakistani Rupee (PKR) has continued its impressive winning streak against the US dollar for the 14th consecutive session, closing at PKR 290.86 in the interbank foreign exchange market.
(more…)Karachi, September 24, 2023 – The Pakistani Rupee (PKR) is expected to sustain its upward trajectory against the US dollar as it gains strength from robust export and remittance inflows and an optimistic outlook for the country’s economy.
(more…)Karachi, September 21, 2023 – The State Bank of Pakistan (SBP) announced the introduction of cash slabs as part of incentive schemes to promote remittances and encourage domestic financial institutions (FIs) to increase their marketing efforts for mobilizing home remittances through formal channels.
(more…)Karachi, September 21, 2023 – The Pakistani Rupee (PKR) continued its remarkable winning streak for the 12th consecutive session against the US Dollar on Thursday, as the exchange market witnessed a gain of PKR 1.10 in the rupee’s value.
(more…)Karachi, September 20, 2023 – Pakistan secured a staggering Rs 2.14 trillion in funds through the sale of treasury bills during an auction conducted by the State Bank of Pakistan (SBP) on Wednesday.
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