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Rupee Continues to weaken against dollar

Rupee Continues to weaken against dollar

The rupee continued to weaken against the US dollar at Rs155.78 in the inter-bank market on Tuesday compared with closing at Monday’s at Rs155.3, revealed by the State Bank of Pakistan (SBP). Earlier, the SBP…

MARKETS
Bitcoin fell to a three-month low on Monday

Bitcoin fell to a three-month low on Monday

Bitcoin fell to a three-month low on Monday that saw investors selling and buying the digital currency. This happened after Tesla boss Elon Musk tweeted about the carmaker’s bitcoin holdings. Bitcoin fell to as low…

MARKETS
Revised Profit Rates on National Savings Schemes effective from 7th May 2021

Revised Profit Rates on National Savings Schemes effective from 7th May 2021

According to a notification issued by the finance ministry, the new profit rates that will effective from the 7th of May. The revised profit rates on Regular Income Certificates reduced to 9.24 percent from 9.36 percent.…

MARKETS
State Bank of Pakistan to not issue new Currency Notes on Eid ul Fitr due to COVID-19

State Bank of Pakistan to not issue new Currency Notes on Eid ul Fitr due to COVID-19

The State Bank of Pakistan (SBP) announced that it will not issue new currency notes on Edi ul Fitr this year due to the coronavirus pandemic. “Like last year, we will not be issuing new…

MARKETS
State Bank of Pakistan launches Five Years Islamic banking plan

State Bank of Pakistan launches Five Years Islamic banking plan

State Bank of Pakistan launched a third five-year Islamic Banking plan (for the period from 2021 to 2025). It will help Islamic banks in enhancing their network nationwide. Advised to increase online banking and “capitalise…

MARKETS
Rupee Becomes the World’s Best Performing Currency against Dollar

Rupee Becomes the World’s Best Performing Currency against Dollar

Pakistani rupee has become the world’s best performing currency. Rupee appreciated the most against the US dollar in the last three months ended March 31, 2021. The rupee strengthened on the back of excessive inflows…

MARKETS
IMF programme & SBP Amendment Bill Open to Reviews in Parliament, says Azhar

IMF programme & SBP Amendment Bill Open to Reviews in Parliament, says Azhar

The government has the right to review the International Monetary Fund (IMF) program and is open to the State Bank of Pakistan (SBP) for recommendations to improve the sovereignty bill, new Finance Minister Hammad Azhar…

MARKETS
Soneri Bank declares Rs2,400m profit after tax

Soneri Bank declares Rs2,400m profit after tax

Annual Audited Financial Statements of Soneri Bank Limited for the year ended 31st December, 2020, were approved by the Bank’s shareholders on Friday, 26th March, 2021, at its 29th AGM in Lahore and Karachi by…

MARKETS
State Bank of Pakistan maintains Monetary Policy Rate unchanged at 7pc

State Bank of Pakistan maintains Monetary Policy Rate unchanged at 7pc

The State Bank of Pakistan has announced a new monetary policy and decided to maintain interest rates at 7%. The monetary policy statement issued by the SBP said that the interest rate has been maintained…

MARKETS
Customers complaints: HBL Bank on Top of the list

Customers complaints: HBL Bank on Top of the list

Habib Bank Limited (HBL) is at the forefront of failing to satisfy customers with its services as most complaints against the bank were lodged in the Wafaqi Mohtasib (Ombudsman) Pakistan (Federal Ombudsman (Pakistan)). The annual…

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