Dec 2

Faysal Bank, Bank of Khyber partner to offer digital payment services

Faysal Bank Limited (FBL) and Bank of Khyber have partnered to launch a suite of digital financial services featuring virtual and debit card services along with added digital payment solutions. Faysal Bank through its Fintech Express Program is driven by creating partnerships with Banks and Fintech to further encourage State Bank of Pakistan’s (SBP) financial […]

by Hamza Shahnawaz

SBP denies restricting import payment for petroleum products

Dec 1

Energy, Money & Banking, National, Top stories

SBP denies restricting import payment for petroleum products

KARACHI: State Bank of Pakistan (SBP) on Thursday strongly rejected reports of restricting oil and petroleum products import payment. The central bank clarified that some reports suggested regarding restriction on import of oil and petroleum products by the SBP. READ MORE: Last date extended up to Dec 31 for exchanging old designed banknotes “It is […]

by Hamza Shahnawaz

PKR remains resilient against dollar, makes 26 paisas gain

Dec 1

Money & Banking

PKR remains resilient against dollar, makes 26 paisas gain

KARACHI: Pakistani Rupee (PKR) remained resilient against the US dollar on Thursday and recovered 26 paisas in interbank foreign exchange market. The exchange rate ended at PKR 223.69 to the dollar from previous day’s closing of PKR 223.95 in the interbank foreign exchange market. READ MORE: PKR ends firmer to dollar amid payment demand Currency […]

by Faisal Shahnawaz

Last date extended up to Dec 31 for exchanging old designed banknotes

Nov 30

Money & Banking

Last date extended up to Dec 31 for exchanging old designed banknotes

KARACHI: State Bank of Pakistan (SBP) has said that the last date has been extended up to December 31, 2022 for exchanging old designed banknotes. The central bank said that the last date to exchange old designed large size banknotes of Rs 10, 50, 100 and 1000 is December 31, 2022. These old design banknotes […]

by Faisal Shahnawaz

PKR ends firmer to dollar amid payment demand

Nov 30

Money & Banking

PKR ends firmer to dollar amid payment demand

KARACHI: Pakistani Rupee (PKR) ended firmer against the US dollar on Wednesday amid foreign currency demand for import and corporate payments. The exchange rate remained ended at PKR 223.95 to the dollar, the same last day closing, in the interbank foreign exchange market. Currency experts said that the market witnessed higher dollar demand for import […]

by Hamza Shahnawaz

PKR ends unchanged to dollar as Pakistan receives inflows

Nov 29

Money & Banking

PKR ends unchanged to dollar as Pakistan receives inflows

KARACHI: Pakistani Rupee (PKR) ended unchanged against the US dollar on Tuesday as the country received $500 million to strengthen external sector. The exchange rate ended at the same last day’s level of PKR 293.95 to the dollar in the interbank foreign exchange reserves. Currency experts said that the rupee was under immense pressure due […]

by Faisal Shahnawaz

SBP withdraws NADRA Verisys for activation of dormant bank accounts

Nov 28

Money & Banking, National, Top stories

SBP withdraws NADRA Verisys for activation of dormant bank accounts

KARACHI: State Bank of Pakistan (SBP) has abolished NADRA verisys for activation of dormant bank accounts. The central bank on Monday issued a circular to amend “ANTI-MONEY LAUNDERING, COMBATING THE FINANCING OF TERRORISM & COUNTERING PROLIFERATION FINANCING (AML/ CFT/ CPF) REGULATIONS FOR STATE BANK OF PAKISTAN’S REGULATED ENTITIES (SBP-REs).” READ MORE: Pakistan rebuts reports of […]

by Faisal Shahnawaz

PKR ends stable to dollar amid repayment pressure

Nov 28

Money & Banking, Top stories

PKR ends stable to dollar amid repayment pressure

KARACHI: Pakistani Rupee (PKR) ended stable against the US dollar on Monday amid foreign currency demand pressure ahead of a major repayment to be made for Sukuk bonds. The exchange rate recorded one paisa decline in rupee value to end at PKR 223.95 to the dollar from last Friday’s close of PKR 223.95 in the […]

by Faisal Shahnawaz

Pakistan rebuts reports of stopping payments to Google

Nov 26

IT & Telecom, Money & Banking, Top stories

Pakistan rebuts reports of stopping payments to Google

KARACHI: State Bank of Pakistan (SBP) on Saturday strongly rebutted the reports that it has stopped the payments to Google. Certain media has reported that Google PlayStore would not be available from December 01, 2022 due to the central bank had stopped payment to Google apps. READ MORE: Price, specs of Samsung Galaxy Z Flip […]

by Faisal Shahnawaz

Pakistan repays $1.8 billion in November 2022: SBP

Nov 26

Finance, Money & Banking

Pakistan repays $1.8 billion in November 2022: SBP

KARACHI: Pakistan has repaid an amount of $1.8 billion against foreign loans during November 2022, the central bank said in an analyst briefing on Friday. According to Insight Securities (Pvt) Limited, commenting on foreign loan payment, SBP governor highlighted that during the month of November 2022, the central bank had repaid loan of $1.8 billion. […]

by Faisal Shahnawaz