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, August 11, 2023 – The Pakistani Rupee (PKR) faced another challenging day as it continued its decline against the US dollar, closing at PKR 288.49 in the interbank foreign exchange market.
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In celebration of the 10th anniversary of the CPEC, the Government of Pakistan has chosen to release a commemorative coin with a value of Rs.100, State Bank of Pakistan (SBP) said.
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Karachi, August 10, 2023 – The State Bank of Pakistan (SBP) has reported a significant drop in remittances from Pakistani workers in the United Arab Emirates (UAE) during the month of July 2023, revealing a concerning decline of 31 percent compared to the same period in the previous year.
(more…)Karachi, August 10, 2023 – The Pakistani Rupee (PKR) experienced a downward shift against the US dollar on Thursday following the unexpected dissolution of the National Assembly.
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Karachi, August 10, 2023 – Bank Alfalah, a prominent player in Pakistan’s financial sector, has stunned the market by announcing an astounding 113 percent growth in net profit for the half-year ending June 30, 2023.
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Karachi, August 10, 2023 – Meezan Bank Limited (MEBL), the leading Islamic bank in Pakistan, has reported a remarkable 93 percent increase in after-tax profit for the first half of the year ending on June 30, 2023.
(more…)Karachi, August 9, 2023 – The Pakistani Rupee (PKR) made a recovery of 45 paisas against the US Dollar, closing at PKR 287.46 in the interbank foreign exchange market on Wednesday.
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Karachi, August 9, 2023 – Financial institutions in Pakistan have disbursed a record-breaking Rs 1.78 trillion in agricultural financing during the fiscal year 2022-2023 (FY23). This amount represents an impressive growth of over 25% compared to the Rs 1.41 trillion disbursed in the previous fiscal year, FY22.
(more…)Karachi, August 9, 2023 – Deposits in commercial banks in Pakistan have reached an all-time high of Rs25.70 trillion by the end of July 2023, driven by the country’s highest interest rates.
(more…)Karachi, August 8, 2023 – The Pakistan Stock Exchange (PSX) has taken notice of an unusual movement in the share price of Meezan Bank Limited (MEBL) and subsequently issued a notice to the bank.
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