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, November 24, 2021 – The State Bank of Pakistan (SBP) has unveiled the official exchange rates for November 24, 2021, providing a comprehensive overview of the market dynamics based on the weighted average rates of commercial banks.
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KARACHI: Meezan Bank led consortium and Enertech Water Private Limited, have recently inked the facility agreements of Rs25.5 billion Islamic Syndicated Project Finance facility, the largest financing facility raised for the Government of Sindh, structured under a public-private partnership.
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KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on November 24, 2021 (The rates are updated at 11:00 AM Pakistan Standard Time):
| Currency | Buying | Selling |
| Australian Dollar (AUD) | 125 | 126.50 |
| Bahrain Dinar (BHD) | 386.75 | 388.50 |
| Canadian Dollar (CAD) | 136.00 | 138.00 |
| China Yuan (CNY) | 23.75 | 23.90 |
| Danish Krone (DNK) | 23.45 | 23.75 |
| Euro (EUR) | 194.50 | 197.00 |
| Hong Kong Dollar (HKD) | 16.70 | 16.95 |
| Indian Rupee (INR) | 2.03 | 2.10 |
| Japanese Yen (JPY) | 1.41 | 1.44 |
| Kuwaiti Dinar (KWD) | 481.70 | 484.20 |
| Malaysian Ringgit (MYR) | 36.45 | 36.80 |
| NewZealand $ (NZD) | 96.45 | 97.15 |
| Norwegians Krone (NOK) | 17.50 | 17.75 |
| Omani Riyal (OMR) | 392.70 | 394.70 |
| Qatari Riyal (QAR) | 39.90 | 40.50 |
| Saudi Riyal (SAR) | 46.50 | 47.00 |
| Singapore Dollar (SGD) | 125.00 | 126.50 |
| Swedish Korona (SEK) | 18.50 | 18.75 |
| Swiss Franc (CHF) | 159.90 | 160.80 |
| Thai Bhat (THB) | 4.80 | 4.90 |
| U.A.E Dirham (AED) | 48.50 | 49.00 |
| UK Pound Sterling (GBP) | 234.00 | 237.00 |
| US Dollar (USD) | 175.50 | 177.00 |
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on November 23, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 8.79 | 9.29 |
| 2 – Week | 8.84 | 9.34 |
| 1 – Month | 8.96 | 9.46 |
| 3 – Month | 9.65 | 9.90 |
| 6 – Month | 9.97 | 10.22 |
| 9 – Month | 10.28 | 10.78 |
| 1 – Year | 10.52 | 11.02 |
KARACHI: The dollar recorded a decrease of 47 paisas against the Pak Rupee (PKR) on Tuesday.
The decline in dollar value has been attributed to certainty about inflows under the IMF loan program.
The rupee ended Rs174.30 to the dollar from the previous day’s closing of Rs174.77 in the interbank foreign exchange market.
Currency analysts said that a day earlier Shaukat Tarin, adviser to the prime minister on finance, made clarity on IMF program and had given date for the approval of IMF tranche.
Pakistan’s current account deficit sharply widened to $5.08 billion during first four months (July – October) of the current fiscal year as compared to a surplus of $1.31 billion in the same period of the last year.
The rupee hit the all-time low of Rs175.73 to the dollar on November 12, 2021 in the interbank foreign exchange market.
Karachi, November 23, 2021 – The State Bank of Pakistan (SBP) has issued the official exchange rates for customers, effective as of November 23, 2021.
(more…)KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on November 23, 2021 (The rates are updated at 09:59 AM Pakistan Standard Time):
| Currency | Buying | Selling |
| Australian Dollar (AUD) | 126 | 127.50 |
| Bahrain Dinar (BHD) | 386.75 | 388.50 |
| Canadian Dollar (CAD) | 136.50 | 138.50 |
| China Yuan (CNY) | 23.75 | 23.90 |
| Danish Krone (DNK) | 23.45 | 23.75 |
| Euro (EUR) | 196 | 198 |
| Hong Kong Dollar (HKD) | 16.70 | 16.95 |
| Indian Rupee (INR) | 2.03 | 2.10 |
| Japanese Yen (JPY) | 1.41 | 1.44 |
| Kuwaiti Dinar (KWD) | 481.70 | 484.20 |
| Malaysian Ringgit (MYR) | 36.45 | 36.80 |
| NewZealand $ (NZD) | 96.45 | 97.15 |
| Norwegians Krone (NOK) | 17.50 | 17.75 |
| Omani Riyal (OMR) | 392.70 | 394.70 |
| Qatari Riyal (QAR) | 39.90 | 40.50 |
| Saudi Riyal (SAR) | 46.15 | 46.65 |
| Singapore Dollar (SGD) | 126 | 127.50 |
| Swedish Korona (SEK) | 18.50 | 18.75 |
| Swiss Franc (CHF) | 159.90 | 160.80 |
| Thai Bhat (THB) | 4.80 | 4.90 |
| U.A.E Dirham (AED) | 48.10 | 48.60 |
| UK Pound Sterling (GBP) | 233.50 | 236 |
| US Dollar (USD) | 175 | 176.50 |
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: Mobilink Microfinance Bank Limited (MMBL) and Daraz Pakistan have joined hands to facilitate MMBL borrowers specifically women entrepreneurs, by enabling them to become sellers on Daraz.
Through this collaboration, MMBL and Daraz will provide adequate opportunities to promote Small and Medium Size Enterprises (SMEs), more so now as the e-commerce platform is going through an all-time boom via the 11.11 sale.
Both the organizations are firmly committed to promoting women’s financial inclusion through the provision of enabling digital financial ecosystem that contributes directly towards empowering this underserved, yet influential segment, which comprises almost half of the country’s population.
MMBL’s flagship program, Women Inspirational Network (WIN), and Daraz’s Ibtida would together provide an incredible boost to our joint mission of upskilling women entrepreneurs and provide them easy access to digitally equipped growth opportunities.
Sharing his enthusiasm, Ehsan Saya, Managing Director at DarazPakistan, said: “We strongly believe women are not only the cornerstone of our society but instrumental in securing a better future for Pakistan. One of the most amazing things about our platform is how easily female entrepreneurs can sell their products all over Pakistan – empowering them is the epitome of uplifting communities.”
This partnership will allow freshly onboarded MMBL female sellers to be charged zero per cent commission for the first three months, giving them ample time to set up their businesses.
Moreover, female sellers from Daraz will be able to apply for MMBL loans at concessional rates.
KARACHI: The State Bank of Pakistan (SBP) has reduced the maximum age of a president of Chief Executive Officer (CEO) to be appointed by banks.
The SBP in a notification stated that the maximum age of a President or CEO has been reduced from 70 years to 65 years.
This change in age will be applicable to new Presidents or CEOs. The existing Presidents or CEOs will continue till the completion of their current tenures irrespective of their age and may also be considered for another term till the age of 70 years.
The central bank issued the revised ‘Corporate Governance Regulatory Framework’ with the objective to further strengthen the corporate governance regime of banks and DFIs and to align the same with international standards and best practices.
The framework, which has been developed in consultation with key stakeholders, covers Fit & Proper Test (FPT) Criteria and other Corporate Governance regulatory requirements for the sponsor shareholders and beneficial owners, members of the Board of Directors, Presidents and CEOs and key executives of banks and DFIs.
All the existing regulatory requirements related to corporate governance have been consolidated and rationalized in this framework to improve consistency, understanding and usability for stakeholders. It may be noted that the last such amendments were introduced in 2007.
Among other changes made in the framework, the board is now required to collectively have adequate knowledge, expertise, and skill mix related to the business model, overall size, complexity and risk profile of the bank and DFI.
Moreover, the board should have at least one female director who should not be a family member of any other director or sponsor shareholder of the bank or DFI.
KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on November 22, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 8.79 | 9.29 |
| 2 – Week | 8.86 | 9.36 |
| 1 – Month | 8.98 | 9.48 |
| 3 – Month | 9.49 | 9.74 |
| 6 – Month | 9.78 | 10.03 |
| 9 – Month | 10.13 | 10.63 |
| 1 – Year | 10.31 | 10.81 |