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.
The State Bank of Pakistan (SBP) has cancelled the authorization/license of M/s. Mega Currency Exchange Company ‘B’ (Pvt.) Limited on May 03, 2023.
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The 43rd SAARCFINANCE Governors’ Group Meeting was held on May 2, 2023, in Islamabad, with Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), chairing the meeting.
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On May 3, 2023, the Pakistan Rupee (PKR) saw some relief as the US Dollar eased and closed at PKR 283.88 in the interbank foreign exchange market.
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Faysal Bank Limited, one of the leading Islamic banks in Pakistan, has reported a remarkable 51% year-on-year increase in net profit for Q1 2023.
(more…)On May 2, 2023, the US dollar rebounded against the Pakistan Rupee (PKR) and closed at PKR 283.92 in the interbank foreign exchange market.
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The State Bank of Pakistan (SBP) has recently taken disciplinary action against United Bank Limited (UBL) for violating various regulatory provisions.
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State Bank Pakistan (SBP) Governor, Jameel Ahmed, has met with foreign investors to discuss the ongoing exchange rate crisis and dividend and profit repatriation issues, according to a statement issued on Saturday.
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KARACHI: State Bank of Pakistan (SBP) has issued a clarification regarding Rs75 banknote after some reports suggested that this currency note is going to withdrawn.
(more…)United Bank Limited (UBL) has reported the highest-ever quarterly profit in the first quarter of 2023, with consolidated earnings of Rs11.62 per share, up 53 percent year on year and 9 percent quarter on quarter.
(more…)In a recent development, the Pakistani Rupee (PKR) has gained against the US dollar by eight paisas, following a reduction in political tensions in the country.
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