Oct 27

SBP suspends Mega Currency Exchange Company

KARACHI: State Bank of Pakistan (SBP) on Thursday suspended the Authorization of an exchange company of ‘B’ category. The central bank suspended, with immediate effect, the authorization of an Exchange Company –B namely M/s Mega Currency Exchange Company –B (Pvt) Limited till further orders due to serious violations of State Bank’s regulations and instructions. The […]

by Hamza Shahnawaz

Dollar climbs to PKR 221.50 on rising political tension

Oct 27

Dollar climbs to PKR 221.50 on rising political tension

KARACHI: The US dollar on Wednesday climbed up by 82 paisas against the Pakistani Rupee to PKR 221.50 owing to rising political tension in the country. The exchange rate ended with a decline of 82 paisas in rupee value to end at PKR 221.50 to the dollar from previous day’s closing of PKR 220.68 in […]

by Faisal Shahnawaz

MCB Bank declares highest ever quarterly profit before tax

Oct 26

Corporate, Money & Banking

MCB Bank declares highest ever quarterly profit before tax

LAHORE: MCB Bank Limited on Wednesday announced the highest ever quarterly profit before tax of Rs19.05 billion in the third quarter ended September 30, 2022. With strong build up in core earnings, MCB’s Profit Before Tax (PBT) for the nine months period ended September 30, 2022 increased to Rs 51.6 billion against PBT of Rs […]

by Hamza Shahnawaz

Rupee slips sharply to dollar on PTI long march

Oct 26

Money & Banking, Top stories

Rupee slips sharply to dollar on PTI long march

KARACHI: Pakistani Rupee (PKR) slipped by sharp 95 paisas against the US dollar on Wednesday owing to unstable political situation after a long march announced by PTI Chief Imran Khan. Exchange rate recorded 95 paisas decline in rupee value to end at PKR 220.68 from previous day’s closing of PKR 219.73 in the interbank foreign […]

by Faisal Shahnawaz

HBL announces fall in net profit to Rs23.63 billion in nine months

Oct 26

Corporate, Money & Banking

HBL announces fall in net profit to Rs23.63 billion in nine months

Habib Bank Limited (HBL) on Wednesday announced 12.42 per cent decline in net profit to Rs23.63 billion for nine months period ended September 30, 2022 as compared with Rs26.98 billion in the same period of the last year. Earnings per share (EPS) fell to Rs15.95 for the period as compared with Rs18.21 in the same […]

by Hamza Shahnawaz

SBP issues fresh instructions on ATM CCTVs for fraud prevention

Oct 26

Money & Banking

SBP issues fresh instructions on ATM CCTVs for fraud prevention

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued fresh instructions regarding installation of Closed Circuit Television (CCTVs) in Automated Teller Machines (ATMs) vestibules and preservation period of visual records. The central bank invited attention to Circular No. 02 of 2007 and No. 05 of 2016, FD Circular Letter No. 04 of 2017 whereby regulatory […]

by Faisal Shahnawaz

Last date extended for exchanging bearer prize bonds to June 30, 2023

Oct 25

Money & Banking, National, Top stories

Last date extended for exchanging bearer prize bonds to June 30, 2023

ISLAMABAD: The federal government on Tuesday announced to extend the last date for exchanging / converting the bearer prize bonds up to June 30, 2023. The bearer prize bonds with denominations of Rs40,000/-, Rs25,000/-, Rs15,000/ and Rs7,500 were expired on June 30, 2022. However, there is huge amount unclaimed against these bearer bonds and people […]

by Mrs. Anjum Shahnawaz

Rupee recovers to PKR 219.73 against dollar

Oct 25

Money & Banking

Rupee recovers to PKR 219.73 against dollar

KARACHI: The Pakistani Rupee (PKR) recovered 68 paisas against the US dollar on Tuesday owing to expected inflows to support balance of payment. The exchange rate witnessed a gain of 68 paisas in rupee value to end at PKR 219.73 to the dollar from the previous day’s closing of PKR 220.41 in the interbank foreign […]

by Faisal Shahnawaz

SBP announces last date to exchange old design banknotes

Oct 25

Money & Banking, National

SBP announces last date to exchange old design banknotes

State Bank of Pakistan (SBP) on Tuesday said that old design banknotes of Rs10, 50, 100 and 1,000 are exchangeable till December 31, 2022. The central bank said it is the sole issuer of banknotes in the country ensuring adequate supply of good quality banknotes across the country is amongst its key strategic goals. SBP […]

by Hamza Shahnawaz

Dollar slips to PKR 220.41 on improved economic sentiments

Oct 24

Money & Banking

Dollar slips to PKR 220.41 on improved economic sentiments

KARACHI: The US dollar slipped by 43 paisas against the Pakistani Rupee (PKR) on Monday owing to improved economic sentiments after FATF decision. The exchange rate witnessed a gain of 43 paisas in rupee value to end at PKR 220.41 from last Friday’s closing of PKR 220.84 in the interbank foreign exchange market. READ MORE: […]

by Faisal Shahnawaz