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.
After going through stable and uncertain sessions, the Pakistani Rupee (PKR) may remain volatile against the US Dollar for next week starting from May 22, 2023.
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The State Bank of Pakistan (SBP) has issued its Half Year Report for FY23, providing an analysis of the country’s economic performance during the July-December period. The report reveals a deterioration in Pakistan’s macroeconomic conditions, despite some policy-induced improvements in the external current account and primary fiscal balance.
(more…)The Pakistani Rupee (PKR) faced further depreciation against the US dollar, falling by 20 paisas on Friday. This decline is attributed to a scarcity of inflows, resulting in a decrease in foreign exchange reserves.
(more…)State Bank of Pakistan (SBP) has issued procedure for payment of mark-up and credit loss subsidy by the government of Pakistan under Prime Minister’s Youth Business and Agriculture Loan Scheme.
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In a strategic move to accelerate payment innovation in Pakistan, Standard Chartered Bank Pakistan Ltd. and Mastercard have entered into an exclusive partnership.
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The State Bank of Pakistan (SBP) has issued directives to commercial banks and Microfinance Banks in the country to enhance their digital fraud protection controls and processes.
(more…)On May 18, 2023, the Pakistani Rupee (PKR) witnessed a decline of 22 paisas against the US dollar in the interbank foreign exchange market, closing at PKR 285.62 compared to the previous day’s closing of PKR 285.40.
(more…)The State Bank of Pakistan (SBP) has canceled the authorization/license of M/s. Noble Exchange International (Pvt.) Limited on May 17, 2023.
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MCB Bank Limited (MCB) has recently introduced a comprehensive technological enhancement for its existing ATM network.
(more…)The Pakistani Rupee (PKR) experienced a decline against the US dollar, closing at PKR 285.40 in the interbank market on Wednesday, May 17, 2023. This depreciation amounted to a decrease of 44 paisas compared to the previous rate of PKR 284.96 at interbank closing.
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