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 Monday, the Pakistani Rupee (PKR) suffered a significant drop of PKR 287.09, nearing its historic low against the dollar, due to uncertain economic and political conditions.
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Pakistan has witnessed an 11% decline in remittances during the first nine months (July-March) of fiscal year 2022/2023 to $20.53 billion.
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Pakistan has increased the profit rates on various saving scheme after massive raise in benchmark interest rate by the central bank.
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ISLAMABAD: Finance Minister Ishaq Dar on Friday chaired a meeting on implementation of Riba free system in Pakistan.
(more…)KARACHI: After making sharp gain a day earlier, the Pakistani Rupee (PKR) resumed its falling journey against the dollar on Friday and ended at PKR 284.65 in the interbank foreign exchange market.
(more…)The National Assembly Standing Committee on Finance Thursday directed the State Bank of Pakistan (SBP) to provide details of 600 people who were provided a $3 billion loan at zero interest rate by commercial banks during the pandemic.
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Pakistan is strong supporter for expanding the use of Chinese Renminbi (RMB) as use of global currency.
(more…)Pakistani Rupee (PKR) significantly rebounded against the dollar on Thursday and regained PKR 3.43 against due to hopes of inflows from the International Monetary Fund (IMF).
(more…)Amid uncertainty surrounding inflows from the International Monetary Fund (IMF), the Pakistani Rupee (PKR) hit a new record low of PKR 287.85 to the dollar on Wednesday.
(more…)According to analysts at Arif Habib Limited, the State Bank of Pakistan (SBP) has increased the benchmark policy rate by 100 basis points to a record high of 21%.
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