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: State Bank of Pakistan (SBP) on Monday allowed one-time facilitation to importers who arrange funds to settle pending import payments.
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KARACHI: The US dollar strengthened against Pakistan Rupee (PKR) on Monday and crossed PKR 230 in interbank foreign exchange market.
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Pakistan’s renowned novelist Mirza Athar Baig has become victim of online bank fraud and lost Rs 1.1 million from his bank account.
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KARACHI: State Bank of Pakistan (SBP) on Saturday issued instructions to banks regarding export of sugar that was allowed by the government.
(more…)KARACHI: State Bank of Pakistan (SBP) is scheduled to issue a monetary policy announcement on January 23, 2023 as the market is expecting another hike of 100 basis points to bring the benchmark rate to 17 per cent.
(more…)KARACHI: The US dollar soared by 52 paisas against Pakistani Rupee (PKR) on Friday due to mounting demand for import payment.
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KARACHI: Faysal Bank Limited has signed an agreement to facilitate foreign trade in an automated environment, according to a statement issued Thursday.
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KARACHI: Financial system of Pakistan is capable of implementing Riba-free banking as per the injunctions of Islam.
(more…)KARACHI: Pakistani Rupee (PKR) witnessed a decline of 24 paisas against the dollar on Thursday to end at PKR 229.15 in the interbank foreign exchange market.
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KARACHI: Facing acute shortage of US dollar, the State Bank of Pakistan (SBP) is striving to clear 11,000 import payment pending cases, said SBP governor Jameel Ahmad on Wednesday.
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