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 18, 2023 – MCB Bank has announced its intention to establish an exchange company with an initial paid-up capital of Rs 10 billion. The decision was communicated in a statement released to the Pakistan Stock Exchange (PSX).
(more…)
Karachi, September 17, 2023 – Market analysts suggest that the Pakistani Rupee (PKR) is poised to sustain its recent upward trend against the US dollar during next week starting from September 18, 2023.
(more…)
Karachi, September 15, 2023 – In a continued effort to combat illegal foreign currency transactions, the State Bank of Pakistan (SBP) announced on Friday the suspension of authorization for an exchange company.
(more…)
The Pakistani Rupee (PKR) has continued its upward trajectory against the US Dollar for the eighth consecutive session.
(more…)
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.
(more…)
Karachi, September 15, 2023 – Meezan Bank Limited, in a significant strategic move, has announced its intention to establish an Exchange Company.
(more…)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.
(more…)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.
(more…)
Karachi, September 14, 2023 – The value of the US dollar continues to decrease in midday interbank trading, bringing positive news for Pakistan’s economy.
(more…)
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…)