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 Friday granted license of Islamic banking license to Faysal Bank Limited.
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KARACHI: Pakistani Rupee (PKR) plunged by 27 per cent or PKR 48.26 to the dollar during the year 2022.
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KARACHI: State Bank of Pakistan (SBP) on Thursday enhanced export financing markup rate by 200 basis points to 13 per cent.
(more…)KARACHI: The US dollar rose to Pakistani Rupee (PKR) 226.41 on Thursday as demand jumped for import and corporate payments.
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KARACHI: State Bank of Pakistan (SBP) on Wednesday announced that it will issue bank notes with signature of new central bank governor Jameel Ahmad from December 29, 2022.
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KARACHI: The field offices of the State Bank of Pakistan (SBP) will remain open on Saturday December 31 for exchange old design and large size banknotes.
(more…)KARACHI: Pakistani Rupee (PKR) fell further against the US dollar on Wednesday as the State Bank of Pakistan (SBP) lifted a ban on imports.
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KARACHI: State Bank of Pakistan (SBP) has withdrawn prior approval for banks for initiating import transactions. Previously the condition was imposed in May 2022.
(more…)KARACHI: The State Bank of Pakistan (SBP) on Tuesday said that the last date to redeem bearer prize bonds has been extended considering the hardship of bond holders.
(more…)KARACHI: Free fall in Pakistani Rupee (PKR) continued on Tuesday as the US dollar hit PKR 226.15 in interbank foreign exchange market.
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