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 20, 2023 – The State Bank of Pakistan (SBP) has granted In-Principle Approval (IPA) for the establishment of five digital retail banks (DRBs), signaling a significant step in the country’s financial landscape.
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Karachi, September 20, 2023 – The Pakistani Rupee (PKR) has demonstrated remarkable strength, making significant gains of approximately 4.3 percent against the US dollar in 11 consecutive trading sessions.
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Karachi, September 20, 2023 – Pakistan’s private sector has exhibited a distinct preference for debt retirement over taking on new bank loans for business activities.
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Karachi, September 20, 2023 – At the interbank foreign exchange market on Wednesday, the Pakistani Rupee (PKR) continued its remarkable appreciation, with the US dollar sliding to PKR 293.90 during midday trading.
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Karachi, September 19, 2023 – The State Bank of Pakistan (SBP) announced on Tuesday that the government has raised the profit rates on USD-based Naya Pakistan Certificates, making these investment instruments even more attractive for investors.
(more…)Karachi, September 19, 2023 – The Pakistani Rupee (PKR) continued its impressive winning streak against the US Dollar on Tuesday, marking its tenth consecutive gain and appreciating to PKR 294.90 in the interbank foreign exchange market.
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Karachi, September 18, 2023 – The private sector in Pakistan has shown a significant surge in bank deposits, increasing by a remarkable 21 percent. This uptick reflects a growing preference for secure investments in the face of ongoing economic challenges.
(more…)Karachi, September 18, 2023 – Despite facing economic challenges, Pakistan’s banking sector has witnessed a remarkable surge in profit by 125 percent during the first half of fiscal year 2023, according to a report released by the State Bank of Pakistan (SBP) on Monday.
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Karachi, September 18, 2023 – Financial analysts are predicting that the Pakistani Rupee (PKR) may experience a significant depreciation, potentially falling to PKR 340 against the US Dollar (USD) by June 2024.
(more…)The Pakistani Rupee (PKR) has been on a winning streak against the US Dollar, marking its ninth consecutive session of gains.
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