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.
Pakistani exchange companies have demanded the government issue regulations for cryptocurrencies, in order to bring in inflows of dollars into the country.
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To facilitate tax collection, banks in Pakistan have been instructed to observe extended banking hours on March 30 and 31, 2023.
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State Bank of Pakistan (SBP) may increase the benchmark policy rate by 200 basis points to 22 per cent in monetary policy statement scheduled on April 04, 2023.
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On March 29, 2023, Pakistani rupee (PKR) ended with a decline of 37 paisas against the US dollar in interbank foreign exchange market.
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Meezan Bank, a leading Islamic bank in Pakistan, and PaySa, a fintech startup specializing in digital payments, have joined forces to offer Point of Sale (POS) payment services and tap into Pakistan’s growing digital payment ecosystem.
(more…)KARACHI: The Pakistani Rupee (PKR) has registered a small recovery of three paisas against the US dollar on Tuesday, ending at PKR 283.55 to the dollar in the interbank foreign exchange market.
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NdcTech, a premium technology services firm, has successfully modernized the core banking system of Samba Bank onto the latest release of Temenos Transact.
(more…)KARACHI: Pakistani rupee (PKR) experienced a devaluation of 38 paisas against the US dollar in interbank foreign exchange market.
(more…)KARACHI: State Bank of Pakistan (SBP) has allowed general permission for foreign investment in real estate fund listed on country’s stock exchange.
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KARACHI: The Standard Chartered Bank (Pakistan) Limited (SCBPL) has introduced Pakistan’s initial Sustainable Trade Export LC Program.
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