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.

FBR Lowers Corporate Tax Rate for Banks to 43%

Karachi, January 17, 2025 – In a major development for Pakistan’s banking sector, the Federal Board of Revenue (FBR) has announced a reduction in the corporate tax rate for banks to 43%, down from the previous 44%. This revised tax rate will take effect for the tax year 2026, commencing on January 1, 2025.
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January 17, 2025
Ripple Revolutionizes Payments as XRP Leads Crypto Market

Over the weekend, while most cryptocurrencies remained relatively stagnant, Ripple XRP surged over 6%, making a strong statement in the digital asset market.
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January 17, 2025
Rupee Depreciation Persists, Closes at PKR 278.86 Against Dollar

Karachi, January 16, 2025 – The Pakistani rupee continued its downward trend against the US dollar on Thursday, closing at PKR 278.86 in the interbank foreign exchange market.
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January 16, 2025
XRP Hits $3, Sparks Optimism in SEC Case

Ripple (XRP) has surged above $3 for the first time since 2018, marking a significant milestone on January 15. This remarkable price movement highlights growing confidence among investors ahead of the SEC’s imminent appeal-related filing. The rally suggests a market belief that the SEC may face challenges in overturning previous rulings in the SEC vs. Ripple case.
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January 16, 2025
JazzCash Unveils Roadmap for Pakistan’s Cashless Future

Dubai/Islamabad – January 15, 2025: JazzCash, Pakistan’s leading fintech platform, recently unveiled a comprehensive three-year roadmap to advance the country’s transition to a cashless society.
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January 15, 2025
PKR to USD: Rupee Dips Marginally Against Dollar in Interbank

Karachi, January 15, 2025 – The Pakistani rupee witnessed a slight decline of 5 paisas against the US dollar on Wednesday, primarily due to persistent demand for dollars driven by import and corporate payment obligations. The rupee closed at PKR 278.77 to the dollar, compared to the previous day’s closing of PKR 278.72 in the interbank foreign exchange market.
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January 15, 2025
SBP May Cut Policy Rate by 100bps: Topline Survey

A recent survey conducted by Topline Securities Limited indicates that market participants widely anticipate a 100 basis points (bps) reduction in the benchmark policy rate during the upcoming Monetary Policy Committee (MPC) meeting. The State Bank of Pakistan (SBP) is set to convene this crucial meeting on January 27, 2025.
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January 14, 2025
PKR to USD Interbank: Rupee Weakens to PKR 278.72

Karachi, January 14, 2025 – The Pakistani rupee slipped to PKR 278.72 against the US dollar in the interbank market on Tuesday, marking a slight depreciation of 4 paisas from the previous day’s closing of PKR 278.68.
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January 14, 2025
Bank Borrowing: Government Retires Rs 2.42 Trillion in 1HFY25

Karachi, January 14, 2025 – The government has retired a substantial Rs 2.42 trillion in bank borrowing during the first half of the fiscal year 2024-25 (July–December). The data, released by the State Bank of Pakistan (SBP) on Tuesday, highlights the government’s efforts to manage and reduce its reliance on borrowing.
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January 14, 2025
CCP Approves 94.8% Stake Acquisition in FINCA Bank

ISLAMABAD, January 13, 2025 – The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8% stake in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited.
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January 13, 2025