KARACHI: Banks in Pakistan are scrambling to meet the required 50% gross advance-to-deposit ratio (ADR) by the end of 2024 to avoid hefty tax rates, analysts said on Saturday. Failure to meet the target would trigger an additional 16% tax on investment income, a financial blow that many banks are eager to sidestep.
(more…)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.
