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, March 4, 2025 – The National Bank of Pakistan (NBP) has successfully managed an extraordinary pension expense of Rs 68 billion without compromising its financial stability, according to Chairman Ashraf Mahmood Wathra.
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Karachi, March 3, 2025 – Allied Bank Limited (ABL) has provided detailed disclosures regarding its tax contingencies for the calendar year 2024 through the transmission of its annual financial statement on Monday.
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Karachi, March 3, 2025 – The banking sector in Pakistan has reported a notable increase in after-tax earnings, reaching Rs 597 billion for the year ending December 31, 2024. This marks a 5% year-on-year (YoY) growth compared to Rs 567 billion recorded in the previous year, demonstrating the resilience of banks amid evolving economic conditions.
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KARACHI: Automated Teller Machines (ATMs) across Pakistan have run out of cash as citizens rushed to withdraw money ahead of the bank holiday on March 3, 2025, designated for Zakat deduction.
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Karachi, March 2, 2025 – The Federal Board of Revenue (FBR) has issued a tax demand of Rs 1.22 billion against Bank Alfalah for multiple tax years, citing various discrepancies in tax payments.
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Karachi, March 2, 2025 – The State Bank of Pakistan (SBP) is expected to lower its benchmark interest rate by 50 basis points in the upcoming Monetary Policy Committee (MPC) meeting, according to market expectations.
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Pakistan has officially announced a bank holiday on Monday, March 3, 2025, to facilitate the deduction of Zakat, a practice observed annually under government regulations.
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KARACHI: The rupee is projected to remain stable in the coming week, driven by optimism surrounding the first review of the International Monetary Fund’s (IMF) $7 billion loan program, set to commence next week. Market participants expect minimal fluctuations in the rupee’s value as economic factors remain relatively steady.
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Karachi, March 1, 2025 – The State Bank of Pakistan (SBP) has officially issued a notification regarding bank timings for the holy month of Ramadan 2025.
(more…)The State Bank of Pakistan (SBP) has notified the types of bank accounts from which Zakat will be deducted for the year 2025. This directive ensures compliance with the national regulations governing Zakat collection and distribution.
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