Category: Money & Banking

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.

CAT dismisses banks appeals, upholds Rs205 million penalties for cartel practices

Islamabad, January 21, 2026 – The Competition Appellate Tribunal (CAT) on Wednesday rejected ten long-pending appeals filed by several commercial banks and the Pakistan Banks Association (PBA), upholding penalties totaling around Rs205 million imposed by the Competition Commission of Pakistan (CCP) for cartel-like behavior.
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January 21, 2026
Meezan Bank launches Rs10 million seed fund to support startups

Karachi, January 21, 2026 – Meezan Bank has announced the allocation of a Rs10 million seed fund to provide venture-capital-style financing for startups recommended by the Korangi Association of Trade and Industry (KATI).
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January 21, 2026
Jazz completes Rs75 billion interest rate swap, boosting Pakistan’s financial market growth

Islamabad, January 19, 2026 – Jazz has successfully executed a Rs75 billion Interest Rate Swap (IRS) with United Bank Limited (UBL), marking the largest IRS transaction in Pakistan’s history.
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January 19, 2026
Pakistani rupee strengthens 3 paisa against US dollar in interbank market

Karachi, January 19, 2026 – The Pakistani rupee (PKR) posted a slight gain against the US dollar (USD) on Monday, strengthening by 3 paisa in the interbank foreign exchange market amid subdued demand from importers.
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January 19, 2026
SBP allows exchange companies to use Raast for faster remittances

Karachi, January 15, 2026 — The State Bank of Pakistan (SBP) has approved exchange companies to use the Raast payment system to process remittances, marking a significant step toward a cashless economy.
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January 15, 2026
PM Shehbaz forms committee to review new currency note designs

Islamabad – Prime Minister Muhammad Shehbaz Sharif on Wednesday announced the formation of a committee to review and deliberate on new designs for Pakistan’s currency notes. The decision was made during a federal cabinet meeting at the Prime Minister’s House, which focused on key policy matters, including currency modernization, a news release from the Prime Minister’s Office stated.
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January 15, 2026
Bank of Punjab confirms credit card glitch, denies any cyberattack on systems

Karachi, January 12, 2026 – The Bank of Punjab (BoP) on Monday dismissed reports of a cyberattack on its systems, while confirming that a temporary technical glitch led to unauthorized credit card transactions involving a limited number of its customers.
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January 12, 2026
Will Pakistani rupee continue strengthening against US dollar next week?

KARACHI, January 11, 2026 — The Pakistani rupee is expected to remain range-bound in the coming week as traders watch closely to see if it can sustain its recent gains and break the critical 280-per-dollar level.
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January 11, 2026
Pakistani rupee gains 3 paisa against USD on strong remittances

Karachi, January 9, 2026 – The Pakistani rupee strengthened by 3 paisa against the US dollar on Friday, buoyed by robust remittance inflows, according to the State Bank of Pakistan (SBP).
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January 9, 2026
Pakistan records historic $19.76 billion in workers’ remittances in 1HFY26

Karachi, January 9, 2026 — Pakistan has achieved a historic milestone in workers’ remittances, receiving a record $19.76 billion during the first half of the current fiscal year (July–December 2025), according to data released by the State Bank of Pakistan (SBP) on Friday. This marks a significant 11% increase compared to $17.80 billion recorded in the same period of the previous fiscal year.
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January 9, 2026