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.
On April 19, 2023, the Pakistani Rupee (PKR) closed firmer against the US dollar in the interbank foreign exchange market, ending at PKR 283.89.
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Meezan Bank Limited, Pakistan’s largest Islamic bank, has announced a robust 68% increase in profit for the first quarter ended March 31, 2023, despite the economic challenges faced by the country.
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Pakistan Housing Finance Company (PHFC) has offered to inject equity up to Rs12 billion into Silkbank Limited, according to a statement shared with the Pakistan Stock Exchange (PSX) on Wednesday.
(more…)KARACHI: The Pakistani Rupee (PKR) has appreciated against the US dollar by 81 paisas on Tuesday, April 18, 2023 in interbank foreign exchange market.
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KARACHI: Pak-Qatar Family Takaful (PQFT) and Emaan Islamic Banking (a division of Silk Bank) Collaborate to Offer Health Takaful Plan.
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KARACHI: Standard Chartered Bank Pakistan Limited (SCBL) recently signed an unfunded Risk-Participation Agreement with British International Investment (BII), the UK’s development finance institution and impact investor, to provide support to the microfinance sector in Pakistan.
(more…)The Pakistani rupee (PKR) slipped by 31 paisas against the US dollar on Monday to start the week in the interbank foreign exchange market.
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The State Bank of Pakistan (SBP) announced Monday that the Federal Government has extended the deadline for redemption of unregistered prize bonds until June 30, 2023.
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KARACHI: Pakistan’s banking sector is facing a threat from non-performing loans (NPLs) due to slow economic growth, according to analysts at KTrade Research.
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The State Bank of Pakistan (SBP) has issued new policy guidelines for banks in the country, instructing them to formulate a digital fraud prevention policy to safeguard their customers’ accounts.
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