Pakistan’s foreign reserves fall last week: SBP

According to the State Bank of Pakistan (SBP), the total liquid foreign reserves held by the country was decreased and stood at US$ 20,058.6 million on 12-February-2021.

The break-up of the foreign reserves position is as under: –

Foreign reserves held by the State Bank of Pakistan: US$ 12,889.7 million

Net foreign reserves held by commercial banks: US$ 7,168.9 million

Total liquid foreign reserves                 : US$ 20,058.6 million

During the week ended 12-February-2021, SBP reserves decreased by US$ 59 million to US$ 12,889.7 million due to external debt repayment.… Continue

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Meezan Bank engages Sehat Kahani to provide free online medical consultation to its employees and families

Meezan Bank, Pakistan’s first and largest Islamic bank, has partnered with Sehat Kahani – an e-health services provider offering healthcare through telemedicine solutions to extend medical benefits to its employees and their families. In this regard, a Memorandum of Understanding was signed between the two parties at Meezan House, Karachi, attended by Mr.… Continue

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EFU General conferred 14th Consumers Choice Award 2019

EFU General has been conferred with the 14th Consumers Choice Award 2019 in the category of Best General Insurance Company of Pakistan. Mr. Altaf QamruddinGokal, Chief Financial Officer received this award.

The Consumers Association of Pakistan (CAP) organized this magnificent event at Pearl Continental Hotel, Karachi.… Continue

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Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$15,003.7 million on 27September2019.The break-up of the foreign reserves position is as under:-

Foreign reserves held by the State Bank of Pakistan : US$ 7,741.6 million

Net foreign reserves held by commercial banks : US$ 7,262.1 million

Total liquid foreign reserves         : US$ 15,003.7 million

During the week ending 27September2019, SBP’s reserves decreased by US$724 million to US$7,741.6 million.… Continue

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Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$14,889.9 million on 31May2019.The break-up of the foreign reserves position is as under: –

Foreign reserves held by the State Bank of Pakistan: US$ 7,862.4 million

Net foreign reserves held by commercial banks : US$ 7,027.5 million

Total liquid foreign reserves             : US$ 14,889.9 million

During the week ending 31May2019, SBP’s reserves decreased by US$148 million to US$7,862.4 million, due to payments on account of external debt servicing.… Continue

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Standard Chartered promotes Gateway to ‘Belt and Road’ opportunities

Experts from Standard Chartered’s Greater China Region hosted road shows in Sri Lanka, Bangladesh and Pakistan to outline the benefits of and investment opportunities from China’s B&R initiative, together with Renminbi internationalisation. The purpose of these roadshows is to enable our clients to take advantage of the benefits presented by China-led Belt & Road initiative (B&R), which is also bringing more cooperation opportunities for Pakistan and China.The… Continue

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MCB Bank and TCS enter into alliance for mutually beneficial services

MCB Bank Ltd, one of Pakistan’s largest private sector banks, has entered into an agreement with one of the country’s largest logistics services providers TCS Pvt. Ltd. for mutually beneficial services. With the collaboration, MCB customers will gain access to affordable holiday packages to premium destinations worldwide through TCS Intiana Travel and Tours services.… Continue

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SBP will continue to closely monitor the foreign exchange markets

According to State bank of Pakistan, today, the PKR-US$ exchange rate in the interbank market closed at PKR 115 per US$ and witnessed an intraday high and low of PKR 116.25 per US$ and PKR 110.60 per US$, respectively.

Exports and workers’ remittances have posted promising growth rates of 12.2 percent and 3.4 percent respectively during July-February FY18 after showing a decline in the same period last year.Continue

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Meezan Bank’s President visits KATI

Meezan Bank’s President & CEO Irfan Siddiqui has said that stability of Banking sector is a matter of national interest, prosperity of industry and trade is directly link to the prospers banking industry, he was talking to office bearers of Korangi Association of Trade & Industry(KATI) on his visit to the association.… Continue

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NBP says PTI statement baseless

The clarification is with reference to the statement issued by Haleem Adil Sheikh, Senior Executive and Vice president of PTI (Sindh), which are deemed baseless and untrue. National Bank of Pakistan (NBP), strongly refutes the baseless acquisitions linked with the serving CEO and President of NBP, Mr.… Continue

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Bank Alfalah earns PAT of Rs. 8.36 bn

The Board of Directors of Bank Alfalah Limited met in Abu Dhabi under the chairmanship of His Highness Sheikh Nahayan Mabarak Al Nahayan, on Sunday to review the performance of the Bank and approved the financial statements of the Bank for the year ended December 31, 2017.… Continue

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NBP wins eight corporate social responsibility awards

National Bank of Pakistan (NBP) bagged eight awards at the two prestigious CSR Summit and Award ceremonies, organized in Karachi and Islamabad respectively. Impressed by NBP’s vision and implementation of CSR activities, the two organizations; National Forum for Health and Environment (NFEH) and The Professionals Network (TPN) unanimously acknowledged NBP’s valuable contribution in diversified categories.… Continue

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NBP sponsors annual program of mass marriages

Pakistan Hindu Council held their annual program of mass marriages recently in which 100 Hindu couples from urban and rural Sindh got married in a grand ceremony at YMCA Ground, Karachi. The occasion was full of colourful programs and celebration for all those who attended.… Continue

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Overseas Pakistanis remit US $11.4 billion in the first seven months of FY18

Overseas Pakistani workers remitted US $11383.47 million in the first seven months (July to January) of FY18, showing a growth of 3.55 % compared with US $10993.48 million received during the same period in the preceding year. During January 2018, the inflow of worker’s remittances amounted to US $1638.72 million, which is 4.92% lower than December 2017 and 10.10% higher than January 2017.… Continue

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UBL and Dow University of Health Sciences collaborate on Cash Management Services

United Bank Limited (UBL) and Dow University of Health Sciences (DUHS) recently signed a memorandum of understanding (MoU) for structured disbursements and collections through UBL’s state-of-the-art, fully automated retail cash management solutions. UBL’s financial solutions are widely used by the educational sector for their innovative product spectrum combined with unmatched customer service and nationwide branch network.… Continue

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