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, July 26, 2023 – The State Bank of Pakistan (SBP) has recently issued a set of comprehensive instructions regarding the import of cash US dollars through cargo or security companies.
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Karachi, July 25, 2023 – Pakistan’s private sector has been hit hard by the economic slowdown and high interest rates, as bank loans plummeted by a staggering 87 percent in the fiscal year 2022-2023, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
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Karachi, July 25, 2023: The Pakistani Rupee (PKR) has experienced its eighth consecutive loss against the US dollar on Tuesday, driven by an increase in demand for import payments.
(more…)Karachi, July 25, 2023 – In a recent circular issued to all banks, development financial institutions, and microfinance banks, the State Bank of Pakistan (SBP) has declared bank holidays for the observance of Ashura Moharram 2023.
(more…)Karachi, July 24, 2023 – The Pakistani Rupee (PKR) has endured another significant decline, falling by PKR 1.11 against the US dollar during its ongoing 7-day losing streak.
(more…)Karachi, July 21, 2023 – The Pakistani Rupee continued its losing streak for the sixth consecutive day against the US dollar, reaching PKR 286.81 on Friday. The currency experienced a significant depreciation, losing PKR 10.35 from its value since July 13, 2023, when it was trading at PKR 276.46.
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Karachi, July 20, 2023 – Standard Chartered, in collaboration with INNOVentures Global (Pvt.) Ltd., has announced the launch of the 5th cohort of its Women in Tech (WiT) program in Pakistan.
(more…)Karachi, July 20, 2023 – The Pakistani Rupee (PKR) experienced its fifth consecutive day of decline, reaching a closing rate of PKR 285.15 against the US dollar in the interbank foreign exchange market on Thursday.
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Karachi, July 20, 2023 – Pakistani banks are exposed to sovereign risk due to the escalating levels of government debt, warned a report issued by the International Monetary Fund (IMF).
(more…)Karachi, July 20, 2023 – The State Bank of Pakistan (SBP) has made a commitment not to introduce new refinancing schemes, according to the latest country report on Pakistan issued by the International Monetary Fund (IMF).
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