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 12, 2024 – The US Dollar strengthened against the Pakistani Rupee (PKR) by 0.05 in Monday’s trading, reflecting the increasing political turmoil in Pakistan following the post-general elections.
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Karachi, February 12, 2024 – The State Bank of Pakistan (SBP) reported on Monday that the inflow of workers’ remittances has witnessed a decline to $15.82 billion during the first seven months (July – January) of the fiscal year 2023-24.
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Karachi, February 12, 2024 – Unclaimed prize bonds worth a staggering Rs 4.77 billion are still up for grabs as the State Bank of Pakistan (SBP) extends the deadline for conversion until June 30, 2024.
(more…)Karachi, February 11, 2024 – In a bid to strengthen its human resource foundation, the State Bank of Pakistan (SBP) has announced the initiation of hiring for assistant directors under the Officers Training Scheme (SBOTS) – 26th Batch.
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Karachi, February 11, 2024 – In a significant development, the State Bank of Pakistan (SBP) has imposed a monetary penalty of Rs 136 million on Bank Alfalah for various regulatory violations during the calendar year 2023, according to official documents.
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Karachi, February 11, 2024 – Analysts foresee potential challenges to exchange rate stability in the coming week, starting February 12, 2024, as a result of post-election political uncertainty in Pakistan.
(more…)Karachi, February 9, 2024 – The Pakistani Rupee (PKR) demonstrated resilience on Friday by gaining PKR 0.06 against the US dollar in post-election trading.
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Karachi, February 9, 2024 – The sales tax collection on banking services in Pakistan saw a remarkable growth of over 17 percent during the fiscal year 2022-23, as indicated by a report released by the Sindh Revenue Board (SRB) on Friday.
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Karachi, February 7, 2024 – The Pakistani Rupee (PKR) continued its upward trajectory against the US dollar on Wednesday, closing at PKR 279.34 in the interbank foreign exchange market.
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Karachi, February 7, 2024 – Faysal Bank Limited has reported an impressive 77% surge in profit after tax for the calendar year 2023, marking a substantial increase from the preceding year.
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