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.
Category: Money & Banking
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Assets of Islamic banks surge by 30.6%: State Bank
KARACHI: The assets of Shariah compliant banks in Pakistan have increased by 30.6 per cent to Rs4.39 trillion by end of quarter January – March 2021 as compared with Rs3.36 trillion in the same quarter of the last year, State Bank of Pakistan (SBP) said on Friday.
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KIBOR rates on July 09, 2021
KARACHI: State Bank of Pakistan (SBP) on Friday issued following Karachi Interbank Offered Rates (KIBOR) on July 09, 2021. Tenor BID OFFER 1 – Week 6.90 7.40 2 – Week 6.95 7.45 1 – Month 7.02 7.52 3 – Month 7.20 7.45 6 – Month 7.41 7.66 9 – Month 7.50 8.00 1 – Year…
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President rejects MCB Bank’s stance on internet banking fraud
ISLAMABAD: President Dr Arif Alvi on Friday rejected the representation of MCB Bank challenging the order of Banking Mohtasib to credit the lost money to its account holder, who had fallen victim to internet banking fraud.
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Rupee makes gain 16 paisas against dollar
KARACHI: The Pak Rupee made a gain of 16 paisas against the dollar on Friday as inflows helped to meet demand for import payments. The rupee closed at Rs159.17 to the dollar from the previous day’s closing of Rs159.33 in the interbank foreign exchange market. Currency experts said that a substantial increase in foreign exchange…
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SBP issues customers exchange rates on July 09, 2021
KARACHI: The State Bank of Pakistan (SBP) on Friday issued customers’ exchange rates on the basis of weighted average rates of commercial banks. The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients. They…
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KIBOR rates on July 08, 2021
KARACHI: State Bank of Pakistan (SBP) on Thursday issued following Karachi Interbank Offered Rates (KIBOR) on July 08, 2021. Tenor BID OFFER 1 – Week 6.93 7.43 2 – Week 6.97 7.47 1 – Month 7.02 7.52 3 – Month 7.20 7.45 6 – Month 7.41 7.66 9 – Month 7.51 8.01 1 – Year…
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Meezan Bank, NCCPL sign MoU to develop Shariah compliant products for capital market
KARACHI: Meezan Bank and National Clearing Company of Pakistan Limited (NCCPL) have agreed to develop new Shariah-compliant products for the country’s capital market. Through this collaboration, Meezan Bank will extend its support in introducing Murabaha Share Financing System (‘MSF’), a new Shariah-compliant product, implemented by NCCPL, will help in extending Shariah-compliant stock financing facilities to stock…
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Rupee ends down by 47 paisas against dollar
KARACHI: The Pak Rupee depreciated by 47 paisas against the dollar on Thursday due to rising demand of the foreign currency for import payments. The rupee ended at Rs159.33 to the dollar from the previous day’s closing of Rs158.92 in the interbank foreign exchange market. Currency experts said that the depreciation in the rupee continued…
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SBP warns against foreign currency exchange through Hawala, Hundi
KARACHI: State Bank of Pakistan (SBP) has warned the general public and persons engaged in sale, purchase and transfer of foreign currency through Hawala/Hundi. The SBP said that people may unknowingly become part of money laundering and terrorism financing offence by dealing with illegal foreign exchange operators. The money laundering and terrorism financing offences are…
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SBP issues customers exchange rates on July 08, 2021
KARACHI: The State Bank of Pakistan (SBP) on Thursday issued customers’ exchange rates on the basis of weighted average rates of commercial banks. The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients. They…
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