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.

Government Abolishes Additional Tax on Low ADR for Banks

Karachi, December 28, 2024 – The federal government has abolished the additional income tax on banks with low Asset-to-Deposit Ratios (ADR). This decision, approved by the federal cabinet, will be implemented through the promulgation of an Income Tax Ordinance.
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December 28, 2024
SBP Unveils Transformative Rules for Exchange Companies

Karachi, December 27, 2024 – The State Bank of Pakistan (SBP) has introduced a fresh regulatory framework for exchange companies to strengthen governance and streamline operations.
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December 27, 2024
US Fed Terminates Actions Against National Bank of Pakistan

Karachi, December 27, 2024 – The Federal Reserve Board of the United States has officially terminated enforcement actions against the National Bank of Pakistan (NBP). This decision marks a major step forward for the bank’s operations, both domestically and internationally.
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December 27, 2024
Rupee Eases 10 Paisas Amid Dollar Payment Demand

Karachi, December 27, 2024 – The Pakistani rupee experienced a slight decline of 10 paisas against the US dollar on Friday, driven by increased demand for the foreign currency to meet import and corporate payment obligations.
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December 27, 2024
Bank Holiday Declared in Pakistan on New Year

Karachi, December 27, 2024 – The State Bank of Pakistan (SBP) has officially declared a bank holiday across the country to mark the beginning of the New Year 2025. This announcement was made on Friday, bringing clarity to banking operations for the first day of the upcoming year.
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December 27, 2024
Rupee Gains to PKR 278.37 Amid Strong Dollar Demand

Karachi, December 26, 2024 – The Pakistani rupee appreciated marginally against the US dollar on Thursday, closing at PKR 278.37 despite persistent demand for the greenback from importers and corporates. The currency strengthened by 10 paisas compared to its previous closing of PKR 278.47 on December 24, 2024.
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December 26, 2024
Rupee Rebounds with 10 Paisas Gain Amid Dollar Demand

Karachi, December 24, 2024 – The Pakistani rupee gained 10 paisas against the US dollar on Tuesday, closing at PKR 278.47, up from PKR 278.57 the previous day. This modest recovery comes amid persistent demand for the dollar, driven by higher outflows for imports and corporate payments, particularly as the year draws to a close.
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December 24, 2024
Bank Holiday Notice for December 25, 2024

Karachi, December 24, 2024 – The State Bank of Pakistan (SBP) has officially issued a bank holiday notice for December 25, 2024. The announcement confirms that all banks across the country, including the central bank, will remain closed on this date in observance of two significant national and religious occasions: Quaid-e-Azam Day and Christmas.
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December 24, 2024
Rupee Weakens by 15 Paisas Amid Rising Dollar Demand

Karachi, December 23, 2024 – The Pakistani rupee depreciated by 15 paisas against the US dollar on Monday, as increased demand for the greenback weighed on the local currency. The rupee closed at PKR 278.57 per dollar in the interbank market, compared to last Friday’s closing of PKR 278.42 per dollar.
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December 23, 2024
Dogecoin Spikes After Trump Announces Key Appointment

The cryptocurrency Dogecoin (DOGE/USD) experienced a significant surge late Sunday night following an announcement from President-elect Donald Trump about a key appointment to the Department of Government Efficiency (DOGE). This department, overseen by billionaire Elon Musk and former presidential candidate Vivek Ramaswamy, is set to play a pivotal role in streamlining the federal government.
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December 23, 2024