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.
Karachi, June 26, 2023 – In an unexpected move on Monday, the State Bank of Pakistan (SBP) raised the benchmark key policy rate by 100 basis points to 22 percent.
(more…)
Karachi, June 26, 2023 – The State Bank of Pakistan (SBP) issued a warning on Monday, stating that prize bonds will become worthless if not encashed before June 30, 2023.
(more…)
Karachi, June 26, 2023: The Pakistani Rupee (PKR) showed a slight improvement against the US dollar on Monday, following an optimistic sentiment surrounding the resumption of the International Monetary Fund (IMF) program.
(more…)Karachi, June 24, 2023: The State Bank of Pakistan (SBP) has issued special instructions to banks in order to facilitate taxpayers during the upcoming holidays and ensure the smooth collection of duty and taxes.
(more…)
Karachi, June 24, 2023: The State Bank of Pakistan (SBP) has declared a bank holiday on July 3, 2023. In a statement released by the central bank, it was announced that all commercial banks will remain closed on this day.
(more…)Karachi, June 23, 2023 – In a significant move aimed at bolstering its economy, Pakistan has officially withdrawn the ban on payments for the import of goods.
(more…)Karachi, June 23, 2023 – The Pakistani Rupee (PKR) closed on a stronger note against the US dollar as demand for imports and corporate payments increased over the weekend.
(more…)
Karachi June 23, 2023 – In line with the celebration of Eid ul Azha, the State Bank of Pakistan (SBP) announced on Friday that all banks across the country will be closed for three consecutive days from June 28 to 30.
(more…)Karachi, June 22, 2023 – The Pakistani Rupee (PKR) continued its upward trajectory for the third consecutive day against the US dollar in the Interbank Foreign Exchange Market, signaling a positive trend in the currency market.
(more…)Karachi, June 22, 2023 – The State Bank of Pakistan (SBP) has announced revised regulations for Electronic Money Institutions (EMIs) in order to broaden the outreach and scope of these innovative fintech-enabled payment companies.
(more…)