Modest Growth in SBP Reserves: A Critical Juncture for Pakistan’s Digital Economy
The State Bank of Pakistan’s (SBP) foreign exchange reserves saw a marginal increase of $46 million, reaching $11.721 billion for the week ending June 13. This modest rise leaves a significant gap against the central bank’s $14 billion target for June 30, raising questions about immediate economic stability and potential implications for the burgeoning digital finance sector.
Pakistan’s KSE-100 Rebounds with Significant Gains Amidst Global Volatility
The Pakistan Stock Exchange (PSX) witnessed a strong resurgence today, with its benchmark KSE-100 Index climbing over 600 points, signaling renewed investor confidence despite ongoing geopolitical tensions in the Middle East. This positive momentum highlights the resilience of key sectors, including those with significant digital and technological integration, amidst a fluctuating global economic climate.
Fiscal Rebalance: FBR Moves to Align Bank Taxation with Digital Economy Needs
The Federal Board of Revenue (FBR) in Pakistan is pushing to remove the special tax privileges extended to banks under the Seventh Schedule of the Income Tax Ordinance 2001. This proposed shift aims to bring banks under the normal corporate tax regime, potentially impacting their digital finance strategies and operational models as the nation seeks to broaden its tax base.
Optimizing Global Commerce: NIBAF Elevates Bank Officer Skills in Trade Risk Profiling
NIBAF Pakistan recently hosted a specialized training program on Trade Risk Profiling at its Karachi Campus. Led by seasoned expert Mr. Salim Thobani, the session equipped commercial bank officers with advanced techniques to navigate the complexities and inherent risks of international trade, crucial for enhancing digital trade finance frameworks.
Bank AL Habib’s Roshan Digital Account Emerges as a Comprehensive Hub for Overseas Pakistanis
A detailed look into Bank AL Habib’s Roshan Digital Account, which has become a leading choice for non-resident Pakistanis. The platform offers an extensive range of financial services, from property and auto financing to sophisticated investment vehicles like stock market access and mutual funds, all managed digitally.