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, June 20, 2023: The government of Pakistan is considering extending the deadline for exchanging bearer prize bonds beyond June 30, 2023, as the last two days of the deadline coincide with public holidays.
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Karachi, June 20, 2023: The Pakistani Rupee (PKR) showed a slight improvement against the US dollar on Tuesday, thanks to a narrowing current account deficit.
(more…)Karachi, June 19, 2023 – Analysts have reported a decrease in the value of the Pakistani Rupee against the US dollar on Monday, driven by heightened demand at the beginning of the week.
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The State Bank of Pakistan (SBP) has issued a directive to commercial banks, instructing them to extend their operating hours on Sunday, June 24, 2023. This move comes in response to a request from the Federal Board of Revenue (FBR) and is aimed at facilitating the payment of duties and taxes by taxpayers.
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State Bank of Pakistan works towards Sharia-compliant financial system
Karachi, June 19, 2023: In a significant move that aligns with Islamic teachings, Pakistan is on the verge of implementing a Riba-free banking system in the country.
(more…)Karachi, June 16, 2023 – The Pakistani Rupee (PKR) strengthened by 18 paisas against the dollar on Friday, reaching a closing rate of PKR 287.19 in the interbank foreign exchange market.
(more…)Karachi: Private sector credit in May 2023 has fallen into the negative zone for the first time in a decade, according to analysts at JS Global Research.
(more…)Karachi, June 15, 2023: The Pakistani Rupee (PKR) experienced a decline against the dollar on Thursday, primarily driven by looming default threats and concerns over the country’s foreign exchange reserves.
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Karachi, June 15, 2023 – The State Bank of Pakistan (SBP) has issued a reminder to investors holding bearer prize bonds, stating that they have only 15 days left to redeem their bonds.
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In a recent development, concerns have been raised by experts regarding the proposed immunity in the Finance Bill, 2023, which allows individuals to bring dollars into Pakistan.
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