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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
