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 – In a successful auction held on Wednesday, the State Bank of Pakistan (SBP) raised a substantial amount of Rs2,107.51 billion through the sale of Market Treasury Bills (MTBs).
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KARACHI – The Pakistani Rupee experienced a marginal decline of two paisas against the US dollar on Wednesday, closing at Rs138.94 in the interbank foreign exchange market.
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Karachi – Allied Bank Limited, one of Pakistan’s leading financial institutions, announced a profit after tax of Rs12.88 billion for the year 2018, reflecting a commendable 1.15 percent increase compared to the preceding year’s profit of Rs12.733 billion.
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Karachi – The federal government has officially appointed Arif Usmani as the President and Chief Executive Officer (CEO) of the National Bank of Pakistan (NBP), according to an official note received by the Pakistan Stock Exchange (PSX) on Wednesday.
(more…)Karachi – The Pakistani Rupee commenced the day by maintaining its value against the US Dollar on Wednesday, as reported by currency dealers.
(more…)The Pakistani Rupee (PKR) exhibited a marginal gain of two paisas against the US Dollar on Tuesday, closing at Rs138.92 in the interbank foreign exchange market.
(more…)The Pakistani Rupee (PKR) showed signs of resilience as it recovered six paisas against the US Dollar in early trading on Tuesday, marking a positive shift in the foreign exchange market, according to dealers.
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The deposits in Pakistan’s banking system witnessed a decline of 2.22 percent, totaling Rs13.057 trillion by the end of January 2019, as compared to Rs13.35 trillion recorded on December 31, 2018.
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Moody’s Investors Service, a globally renowned credit rating agency, has altered its outlook for Pakistan’s banking system from stable to negative, citing concerns over the sector’s exposure to the nation’s low-rated sovereign debt and a decelerating economy.
(more…)KARACHI: The Pakistani Rupee experienced a decline of 54 paisas against the US dollar on Monday, signaling increased demand for imports and corporate payments, according to market dealers.
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