Karachi, December 8, 2023 – In an effort to streamline the application process for Hajj 2024, the State Bank of Pakistan (SBP) has directed 15 authorized banks to open their branches on both Saturday and Sunday.
(more…)Tag: Hajj
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Pakistan Initiates Hajj Application Process for Next Year
ISLAMABAD, November 27, 2023 – Pakistan officially commenced the Hajj application process for the upcoming year on Monday, as announced by the Ministry of Religious Affairs.
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Food Companies Fined SAR 4,000 for Providing Substandard Meals to Pakistani Pilgrims
MAKKAH MUKARMA, Jun 07, 2023: Two catering companies responsible for providing meals to Pakistani pilgrims in Makkah Mukarma have been fined 4,000 Riyals for failing to meet food quality standards and neglecting their duty to provide satisfactory meals to the intending pilgrims performing Hajj under the Government scheme.
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Pakistan, Saudi Arabia ink ‘Road to Makkah’ deal for pilgrim facilitation
In a significant development, Pakistan and Saudi Arabia have officially inked an agreement to implement the “Road to Makkah” initiative, designed to simplify the immigration process for Hajj and Umrah pilgrims.
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Pakistan accepts all applications without balloting for Hajj 2023
Pakistan on Monday decided to accept all applications without conducting a balloting under Hajj Scheme 2023
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Saudi Arabia deploys extensive air surveillance system for Hajj pilgrimage
ISLAMABAD: The Saudi Ambassador to Pakistan, Nawaf bin Said Al-Malki, has announced that the Saudi government has deployed an extensive air surveillance system to ensure the safety and security of all the faithful preparing to embark on the annual Hajj pilgrimage to the Kingdom.
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Pakistan receives 72,869 applications for Hajj 2023
Pakistan has received 72,869 applications for Hajj 2023 up till March 31, 2023 under the government’s regular scheme quota of 44,190.
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Banks asked to open on Saturday, Sunday to accept Hajj applications
KARACHI: Banks have been asked to open their branches on Saturday and Sunday to accept applications under Hajj 2023.
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Pakistan to provide foreign exchange cover of $90 million for Hajj – 2023
Pakistan has decided to provide foreign exchange cover of $90 million for Hajj 2023. This has been decided by the government while approving Hajj Policy.
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Pakistani rupee falls 36% to Saudi Riyal in seven months
KARACHI: The Pakistani Rupee (PKR) has recorded a sharp decline by Rs16.79 or 36 per cent against the Saudi Riyal during the past seven months January – July 2022, according to official data.
According to weighted average customer exchange rates issued by the State Bank of Pakistan (SBP), the selling rate by exchange companies opened at Rs47.08 to the Saudi Riyal on January 04, 2022 [the first trading day of the year] as compared with closing of Rs63.87 to the Saudi Riyal on July 29, 2022.
READ MORE: Pakistani Rupee to Saudi Riyal on July 31, 2022
The rupee recorded a massive decline during the year against a basket of foreign currencies. As the local unit recorded a massive decline of 34.35 per cent against the US dollar in the interbank foreign exchange market.
The US dollar was at Rs178.17 at opening on January 04, 2022 and closed at Rs239.37 on July 29, 2022 in the interbank foreign exchange market.
READ MORE: Pakistani Rupee to Saudi Riyal on July 30, 2022
Experts believed that the downgrade of the rating of Pakistan by three top credit rating agencies deteriorated the outlook of the country. Furthermore, the political conflict further aggravated the situation.
Further the Rupee declined against SAR because of the exchange of currency for pilgrimage to Saudi Arabia. The Hajj began on July 7, 2022, when the SAR closed at Rs55.49.
READ MORE: Pakistani Rupee to Saudi Riyal on July 29, 2022
The rupee also declined against the Saudi Riyal on account of the massive fall of the local currency against the US Dollar after the country has been trapped in foreign exchange reserves shortage.