Deposit Protection Corporation Unveils Annual Report FY2023-24 Highlighting Financial Stability
The Deposit Protection Corporation (DPC), a subsidiary of the State Bank of Pakistan (SBP), has released its fourth Annual Report…
Arab Coordination Group Pledges $10 Billion to Tackle Desertification, Land Degradation
The Arab Coordination Group (ACG), a coalition of ten leading development finance institutions, has announced a groundbreaking commitment of up…
Paysys Labs and NymCard Revolutionize Credit Card and Payment Solutions for Fintechs
Paysys Labs, a leader in payment technology, has announced an exciting strategic partnership with NymCard, a top provider of card…
MAS and ABS Introduce Electronic Deferred Payment Solutions and Extend Deadline for Corporate Cheque Cessation
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced on December 5, 2024, their…
Workers’ Remittances Surge to USD 2.9 Billion in November 2024
In a significant boost to Pakistan’s foreign exchange reserves, workers’ remittances reached an inflow of USD 2.9 billion in November…
SBP to Launch ‘InvestPak’ Platform for Direct Investment in Government Securities
The State Bank of Pakistan (SBP) is poised to revolutionize investment accessibility with the upcoming launch of InvestPak, a digital…
Rupee Slides Further Against Dollar Amid Rising Import Payments
The Pakistani rupee continued its depreciation against the US dollar in the interbank foreign exchange market on Thursday, dropping by…
IFC and HSBC Partner to Close Trade Finance Gap in Emerging Markets
On December 12, 2024, the International Finance Corporation (IFC) and the Hongkong and Shanghai Banking Corporation Limited (HSBC) announced a…
Pakistan Government Cuts Profit Rates on National Savings Schemes as of December 2024
In a move aimed at managing the country’s fiscal policies amidst shifting economic conditions, the Federal Government of Pakistan has…
Federal Reserve Board Publishes Findings on Banks’ Reserve Balance Management Strategies
The Federal Reserve Board has released the findings of its Senior Financial Officer Survey, shedding light on how banks manage…