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, January 24, 2024 – Pakistan’s private sector has exhibited resilience in the face of challenging economic conditions, retiring a substantial amount of Rs 8 billion in the current fiscal year as opposed to seeking fresh loans.
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Karachi, January 24, 2024 – The State Bank of Pakistan (SBP) is set to convene the Monetary Policy Committee (MPC) meeting on January 29, 2024, to review the benchmark policy rate.
(more…)Karachi, January 23, 2024 – The State Bank of Pakistan (SBP) announced the launch of a cutting-edge Centralized Foreign Exchange (FX) Trading Platform called ‘FX Matching.’
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Karachi, January 23, 2024 – The Pakistani Rupee (PKR) concluded on a stronger note against the US dollar, closing at PKR 279.79 in the interbank foreign exchange market on Tuesday.
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Islamabad, January 22, 2024 – Raqami Islamic Digital Bank has taken a significant leap towards revolutionizing the digital banking landscape by entering an exclusive agreement with Codebase Technologies.
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Karachi, January 22, 2024 – In a positive turn of events, the Pakistani Rupee (PKR) closed at PKR 279.85 against the US dollar in the interbank foreign exchange market on Monday, marking a gain of PKR 0.05 from last Friday’s closing rate of PKR 279.90.
(more…)Karachi, January 22, 2024 – In a strategic move, Pakistan has announced its plans to introduce an online trading platform for foreign exchange by the end of January 2024, marking a significant step toward enhancing transparency and efficiency in the country’s FX market.
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Karachi, January 21, 2024 – The International Monetary Fund (IMF) has advised Pakistan to exercise caution and avoid imposing restrictions on foreign exchange, emphasizing the importance of supporting a return to a market-determined exchange rate.
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Islamabad, January 21, 2024 – President Dr. Arif Alvi has taken a firm stand against banking fraud, ordering the blocking of banking services to fraudsters.
(more…)Karachi, January 19, 2024 – The Pakistani Rupee (PKR) demonstrated resilience on the last trading day of the week, making a modest gain of PKR 0.08 against the US dollar.
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