Category: Money & Banking

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.

Pakistan Declares Bank Holiday on September 29

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).
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September 26, 2023
SBP Suspends Authorization of Two Exchange Companies for Regulatory Violations

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.
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September 25, 2023
Pakistani Rupee Continues Winning Streak, Ending at PKR 290.86 Against Dollar

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.
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September 25, 2023
PKR Poised to Maintain Upward Trajectory Against Dollar Starting September 25

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.
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September 24, 2023
State Bank of Pakistan Introduces Cash Slabs to Promote Remittances

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.
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September 21, 2023
PKR Extends Winning Streak Against Dollar for 12th Consecutive Session

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.
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September 21, 2023
Pakistan Raises Massive Rs 2.14 Trillion via Treasury Bill Auction

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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September 20, 2023
Pakistan Approves Establishment of Five Digital Retail Banks

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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September 20, 2023
Pakistani Rupee Surges 4.3% Against Dollar in 11 Consecutive Sessions

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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September 20, 2023
Pakistan’s Private Sector Opts for Debt Retirement Over New Bank Loans

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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September 20, 2023