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, November 17, 2023 – The State Bank of Pakistan (SBP) has announced an extensive five-year strategic plan aimed at transitioning the current conventional banking system into a Sharia-compliant financial system for the country.
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Karachi, November 17, 2023 – The Pakistani Rupee (PKR) showcased a notable upswing against the US dollar, closing at PKR 286.50 in the interbank foreign exchange market on Friday.
(more…)Karachi, November 16, 2023 – Breaking the downward trend, the Pakistani Rupee (PKR) displayed resilience against the US dollar, concluding at PKR 287.38 in the interbank foreign exchange market on Thursday.
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Karachi, November 16, 2023 – Banks in Pakistan are set to pay an additional Rs 58 billion in income tax following the federal cabinet’s approval of a 40 percent tax on windfall profits derived from foreign exchange transactions in 2021 and 2022.
(more…)Karachi, November 15, 2023 – The Pakistani Rupee (PKR) sustained its downward trajectory for the 17th consecutive session against the US dollar, closing at PKR 288.14 in the interbank foreign exchange market on Wednesday.
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Karachi, November 14, 2023 – The Pakistani Rupee (PKR) extended its losing streak against the US dollar for the 16th consecutive session, closing at PKR 287.87 in the interbank foreign exchange market on Tuesday.
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November 14, 2023 – Pakistan has banned 111 social media apps that were offering online interest based loans, said caretaker Interior Minister Sarfraz Bugti on Monday.
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Karachi, November 13, 2023 – The US dollar maintained its dominance over the Pakistani Rupee (PKR) for the 15th consecutive session, breaching the PKR 287.55 mark in the interbank foreign exchange market on Monday.
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