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, December 5, 2023 –The State Bank of Pakistan (SBP) officially unveiled the Raast Person to Merchant (P2M) Service on Tuesday for advancing digital payment solutions in Pakistan.
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Karachi, December 5, 2023 – In a strategic move to foster innovation in the digital financial services (DFS) sector, the State Bank of Pakistan (SBP) unveiled a draft regulatory sandbox on Tuesday, encouraging stakeholders to provide feedback before the finalization of the regulatory and technical sandboxes.
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Karachi, December 5, 2023 – The Pakistani Rupee (PKR) exhibited a positive trend on Tuesday, recording a gain of PKR 0.15 against the US dollar at the close of the interbank foreign exchange market.
(more…)Karachi, December 4, 2023 – The Pakistani Rupee (PKR) has marked the commencement of the week with a notable appreciation, strengthening by PKR 0.44 against the US Dollar in Monday’s trading.
(more…)Karachi, December 3, 2023 – Anticipation of the International Monetary Fund’s (IMF) approval of the next $700 million tranche under its $3 billion Extended Fund Facility (EFF) arrangement has fueled optimism in Pakistan’s currency market, leading to a strengthening of the rupee against the dollar.
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Karachi, December 2, 2023 – A recent survey indicates that the State Bank of Pakistan (SBP) is unlikely to alter its existing policy rate of 22 percent in the upcoming Monetary Policy Committee (MPC) meeting scheduled for December 12, 2023.
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Karachi, December 1, 2023 – The State Bank of Pakistan (SBP) announced on Friday that a remarkable 98% of depositors in the country are fully protected, ensuring their financial security even in the unlikely event of a bank’s failure.
(more…)Karachi, December 1, 2023 – The Pakistani Rupee (PKR) exhibited resilience on Friday as it strengthened against the US dollar, reaching PKR 284.97 in the interbank foreign exchange market.
(more…)Karachi, November 30, 2023 – The Pakistani Rupee (PKR) strengthened its position against the US Dollar on Thursday, closing at PKR 285.17 in the interbank foreign exchange market.
(more…)Karachi, November 29, 2023 – The Pakistani Rupee (PKR) witnessed a positive shift on Wednesday, appreciating by PKR 0.13 against the U.S. Dollar as the interbank foreign exchange market concluded its trading session.
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