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Pakistan’s Economy To Face Further Pressure Amid The Ongoing Crisis

Pakistan’s Economy To Face Further Pressure Amid The Ongoing Crisis

Pakistan’s economy is expected to see further pressure in the wake of an aggressive hike in the benchmark interest rate by the US Federal Reserve. The capital market is also expected to see mounting pressure

Business cautious after court decision on Riba-free banking

Business cautious after court decision on Riba-free banking

As religious segments lauded the decision of the Federal Shariat Court (FSC) regarding implementing an interest (Riba)-free banking system by December 2027, traders and business stakeholders appeared cautious in their optimism. Finance Minister Miftah Ismail

President for swift redressal of complaints in banking sector

President for swift redressal of complaints in banking sector

On Tuesday, President Dr. Arif Alvi emphasised that banks should ensure foolproof security of account holders' data and deposits. His statement holds importance amid increasing cybercrimes all over the world. Alvi was presiding over a

Lahore’s homeless person discovers billions in Swiss accounts

Lahore’s homeless person discovers billions in Swiss accounts

A homeless person in Lahore has been found to own two accounts with a combined balance of around four billion rupees in a Swiss Bank. The man, identified as Muhammad Javed, has never travelled abroad

SBP against opening Afghanistan Relief Fund

SBP against opening Afghanistan Relief Fund

The State Bank of Pakistan (SBP) has decided against opening the Afghanistan Relief Fund. Fearing the Financial Action Task Force (FATF) sanctions, it has requested the federal government to reanalyse its decision. The federal government

SBP spikes profit rate on saving accounts

SBP spikes profit rate on saving accounts

Pakistan - On Monday, the State Bank of Pakistan (SBP) Announced that the profit rate on savings accounts would be spiked by 1.5 pc to a minimum of 7.25 pc by Dec 1. In case

SBP reserves increase by $13 million

SBP reserves increase by $13 million

The State Bank of Pakistan’s (SBP) foreign exchange reserves have increased by $13 million to $16,119.4 million. The rise was reported by the SBP on Thursday in its weekly report for the week ending on

SBP clarifies air around deductions on online funds transfer

SBP clarifies air around deductions on online funds transfer

State Bank's deputy governor Sima Kamil said, Friday, that the country's banks have now have a regulated structure of charging customers for fund transfer services online. She termed it a "price-control" mechanism as the situation

No WHT On banking transactions a step in the right direction: Experts

No WHT On banking transactions a step in the right direction: Experts

The government, in its recently announced Federal Budget, abolished a withholding tax on cash withdrawal from non-cash banking transfers and the banking system, a step taken to provide relief to the general public. Some experts

SBP not to issue fresh currency notes this Eid

SBP not to issue fresh currency notes this Eid

For consecutively the second time, the State Bank of Pakistan (SBP) has not issued fresh currency notes in view of Eid-ul-Fitr. This means that the usual custom of giving out fresh and crisp notes in