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.

SBP Levies Rs 290.71 Million in Penalties on Habib Bank

Karachi, October 29, 2024 — The State Bank of Pakistan (SBP) has imposed a hefty penalty of Rs 290.71 million on Habib Bank Limited (HBL) over the first nine months of 2024, marking a significant increase in regulatory fines compared to the same period last year.
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October 29, 2024
Rupee Eases Against Dollar, Closing at PKR 277.74 in Interbank

Karachi, October 29, 2024 — The Pakistani rupee slightly depreciated against the U.S. dollar on Tuesday, closing at PKR 277.74 in the interbank market, a drop of 6 paisas from the previous day’s close of PKR 277.68.
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October 29, 2024
Meezan Bank Anticipates Victory in Complex HSBC Tax Dispute

Karachi, October 28, 2024 — Meezan Bank has expressed strong confidence in winning its ongoing tax dispute with the Federal Board of Revenue (FBR), which involves the disallowance of expenses tied to the now-defunct HSBC Bank Middle East – Pakistan Branch.
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October 28, 2024
Rupee Dips to PKR 277.68 Against Dollar on High Import Payments

Karachi, October 28, 2024 — The Pakistani rupee weakened to PKR 277.68 against the US dollar on Monday due to increased demand for import payments, following a closing rate of PKR 277.64 last Friday in the interbank foreign exchange market.
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October 28, 2024
Rupee Likely to Trade in Narrow Range Against Dollar Next Week

The Pakistani rupee is anticipated to maintain a narrow trading range against the US dollar over the forthcoming week. Market participants are keenly awaiting the State Bank of Pakistan’s (SBP) interest rate decision on November 4, which is expected to significantly influence the local currency’s trajectory.
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October 27, 2024
Rupee Gains 20 Paisas Against Dollar Amid Improved Inflows

Karachi, October 25, 2024 – The Pakistani rupee appreciated by 20 paisas against the US dollar on Friday, settling at PKR 277.64 in the interbank foreign exchange market compared to the previous day’s rate of PKR 277.84.
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October 25, 2024
Rupee Dips by 11 Paisas to Dollar Amid Rising Foreign Payments

Karachi, October 24, 2024 – The Pakistani rupee weakened by 11 paisas against the U.S. dollar on Thursday, closing at PKR 277.84 in the interbank foreign exchange market, down from the previous day’s PKR 277.73. The depreciation was driven by increased demand for dollars to meet external payments.
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October 24, 2024
Bank Deposits in Pakistan Soar to Record High of Rs 31.34 Trillion

By the end of September 2024, bank deposits in Pakistan surged to a historic Rs 31.342 trillion, reflecting a remarkable year-on-year increase of 19.1%, according to data released by the State Bank of Pakistan (SBP). This milestone marks a significant step in the nation’s banking landscape, showcasing robust growth despite the challenges posed by fluctuating interest rates.
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October 24, 2024
SBP May Further Cut Policy Rate by 200 bps: Survey

Karachi, October 23, 2024 – The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is expected to further reduce the policy rate by 200 basis points (bps) or 2% in its upcoming meeting scheduled for November 4, 2024. This insight comes from a recent survey conducted by Arif Habib Limited, capturing the sentiment of market participants across various sectors.
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October 23, 2024
MCB Bank Reports 8% Decline in Earnings for 3QCY24

Karachi, October 23, 2024 – MCB Bank has released its financial results for the third quarter ending September 30, 2024, revealing an 8% decline in earnings compared to the same period last year.
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October 23, 2024