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 1, 2023 – The Pakistani Rupee (PKR) found itself facing a daunting challenge as it struggled against the relentless might of the US dollar, eventually ending at PKR 287.54 in the interbank foreign exchange market.
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Karachi, August 1, 2023 – The State Bank of Pakistan (SBP) announced to extend the settlement of card-based cross-border transactions through interbank for an additional five months.
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Karachi, July 31, 2023 – The State Bank of Pakistan (SBP) has announced its decision to maintain the benchmark policy rate at 22 percent, citing a decrease in economic uncertainties.
(more…)Karachi, July 31, 2023 – The Pakistani Rupee (PKR) experienced a depreciation against the US Dollar on Monday, ending at PKR 286.64 in the interbank foreign exchange market.
(more…)Karachi, July 27, 2023 – The State Bank of Pakistan (SBP) has taken a firm stance against regulatory violations in the banking sector, imposing a total monetary penalty of Rs 575 million on 11 banks during the first half (January – June) of calendar year 2023.
(more…)Karachi, July 27, 2023 – The State Bank of Pakistan (SBP) is poised to make a crucial decision on the benchmark interest rate following the successful conclusion of a loan deal with the International Monetary Fund (IMF).
(more…)Karachi, July 27, 2023 – The Pakistani Rupee (PKR) experienced a slight uptick against the US Dollar in the interbank foreign exchange market today, due to financial assistance from China.
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Bank Alfalah, one of Pakistan’s largest commercial banks, has teamed up with World Wide Fund for Nature Pakistan (WWF-Pakistan), a leading environmental conservation organization, to kickstart #GreenWayForward, a plantation campaign.
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Karachi, July 26, 2023 – Habib Bank Limited (HBL) has surpassed expectations by announcing a remarkable profit for the Second Quarter of Calendar Year 2023 (2QCY23).
(more…)Karachi, July 26, 2023 – The Pakistani Rupee (PKR) broke an 8-day losing streak against the dollar on Wednesday, experiencing a recovery of PKR 1.48, thanks to Chinese finance assistance.
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