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.
In a significant development, the Federal Government has announced an extension to the deadline for the redemption of prize bonds, State Bank of Pakistan (SBP) said on Monday.
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After going through very volatile sessions due to political unrest, the Pakistani Rupee (PKR) is likely to stay stable against the dollar during the next week starting May 15, 2023.
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Security Investment Bank Limited (SIBL) has applied to become a Shariah-compliant investment bank following the issuance of comprehensive guidelines by the Securities and Exchange Commission of Pakistan (SECP).
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KARACHI: The State Bank of Pakistan (SBP) has announced its invitation for applications from eligible institutions to become primary dealers of treasury bills. This move aims to enhance the efficiency and effectiveness of the government securities market.
(more…)The Pakistani Rupee (PKR) experienced a momentous rebound on Friday, recording a historic single-day recovery of PKR 13.85 against the dollar in the interbank foreign exchange market’s closing rates.
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Pakistan’s decision to shut down internet services in the country has had severe repercussions for the mobile phone banking sector, leading to substantial financial losses.
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In early trade, the Pakistani Rupee (PKR) achieved a historic recovery against the dollar, strengthening by 13.93 and trading at PKR 285 in the interbank foreign exchange market.
(more…)In April 2023, the banking system in Pakistan experienced a massive withdrawal of Rs150 billion, leading to a decline in total deposits from the previous month’s record high.
(more…)The Pakistani Rupee (PKR) on Thursday experienced another day of significant depreciation against the US dollar, hitting a record low at PKR 298.93 in the interbank foreign exchange market.
(more…)The Pakistani Rupee (PKR) on Thursday hit a historic low against US Dollar for second consecutive day. The PKR depreciated to PKR 295 against dollar during the midday trading in interbank foreign exchange market.
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