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IMF's Debt Dilemma Looms After Pak Election: Central Bank's Ex Governor
The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.
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Pakistan Banks Turn to Blockchain Technology to Update Customers' KYC Details Amid Economic Turmoil
Banks in Pakistan have decided to develop a know-your-customer (KYC) platform using blockchain technology in order to strengthen the country’s efforts to curb money-laundering. With a blockchain-based KYC platform, financial institutions will be able to minimise onboarding costs for bank users.
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Pakistan Central Bank Hikes Interest Rate To Record High Level Amid Inflation
The State Bank of Pakistan has increased the interest rate by a massive 300 basis points (bps) taking it to a record-high level of 20 per cent, in accordance with the conditions set by the International Monetary Fund.
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Pakistan To Get $700 Million Loan From China: Finance Minister
Pakistan's all-weather ally China has approved a loan of USD 700 million and the funds will be transferred to the central bank this week, Finance Minister Ishaq Dar announced today as the cash-strapped country tried to avert a financial crisis.
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Cash-Strapped Pakistan To Repay $1 Billion Next Week, 3 Days Before Deadline
Pakistan's central bank chief said on Friday that the cash-strapped country would repay a USD 1 billion international bond on December 2, three days before its due date.
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"Looks Like UFO": Video Of Pakistan Groom With Currency Garland Shocks Internet
Years ago, India's central bank had said that bank notes should be respected as they are a symbol of the sovereign and people should not misuse them.
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Cash-Strapped Pakistan Gets $2.3 Billion From China
Pakistani Finance Minister Miftah Ismail said on Friday that a loan of USD 2.3 billion from a Chinese consortium of banks had been credited to the central bank's account.
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Crypto Sector Could Suffer in Pakistan as Its Central Bank Looks to Ban Cryptocurrencies: Report
Pakistan, that houses the third largest number of crypto users in the world, is deciding if it should ban the crypto sector all-together. The country’s central bank has told the Sindh High Court that cryptocurrencies are illegal and unusable as trade assets.
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UAE Firm Files 74 Billion Lawsuit Against Pakistan's Central Bank: Report
An United Arab Emirates-based trading and investment firm has filed a lawsuit worth around Rs 74 billion against the State Bank of Pakistan (SBP) and a private bank, local media reported.
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Pak Central Bank Reserves Fall By $123 Million To $20 Billion: Report
Foreign exchange reserves held by Pakistan's Central Bank fell 0.61 per cent on a weekly basis, according to State Bank of Pakistan's data on Thursday.
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Pakistan Gets $2.75 Billion In COVID-19 Support Funds From IMF
Pakistan on Tuesday received $2.75 billion from the International Monetary Fund (IMF) under a Special Drawing Rights (SDR) programme to support low-income countries hit by the coronavirus, its central bank said.
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Pakistan To Get $3 Billion Loan From UAE, Hopes For Deferred Oil Payments
The United Arab Emirates plans to deposit $3 billion in Pakistan's central bank "in the next few days", the UAE state news agency WAM reported.
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Pak Rupee Sinks To Record Low Day After Imran Khan's 100 Days In Office
Pakistan's rupee plunged almost five percent to a record low Friday after what appeared to be a sixth devaluation by the central bank in the past year as the country struggles with an acute balance of payment crisis.
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Pakistan Says Hit By Card-Skimming But Denies Mass Bank Data Breach
Pakistan's central bank rushed on Tuesday to reassure investors and consumers that its banking system had not been hacked after a mass skimming operation hit customers' credit and debit cards.
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After PM Narendra Modi Warned Pak, India Fast-Tracks Kashmir Hydropower Projects
India has fast-tracked hydro-power projects worth $15 billion in Kashmir in recent months, according to news agency Reuters, which based its report on three unnamed central and state officials. The acceleration by India ignores warnings from Islamabad that power stations on rivers flowing into Pakistan will disrupt water supplies.
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IMF's Debt Dilemma Looms After Pak Election: Central Bank's Ex Governor
The International Monetary Fund faces tough choices on how to deal with Pakistan after the February election and how to assess the country's debt situation, a former central bank governor of the South Asian nation said.
-
Pakistan Banks Turn to Blockchain Technology to Update Customers' KYC Details Amid Economic Turmoil
Banks in Pakistan have decided to develop a know-your-customer (KYC) platform using blockchain technology in order to strengthen the country’s efforts to curb money-laundering. With a blockchain-based KYC platform, financial institutions will be able to minimise onboarding costs for bank users.
-
Pakistan Central Bank Hikes Interest Rate To Record High Level Amid Inflation
The State Bank of Pakistan has increased the interest rate by a massive 300 basis points (bps) taking it to a record-high level of 20 per cent, in accordance with the conditions set by the International Monetary Fund.
-
Pakistan To Get $700 Million Loan From China: Finance Minister
Pakistan's all-weather ally China has approved a loan of USD 700 million and the funds will be transferred to the central bank this week, Finance Minister Ishaq Dar announced today as the cash-strapped country tried to avert a financial crisis.
-
Cash-Strapped Pakistan To Repay $1 Billion Next Week, 3 Days Before Deadline
Pakistan's central bank chief said on Friday that the cash-strapped country would repay a USD 1 billion international bond on December 2, three days before its due date.
-
"Looks Like UFO": Video Of Pakistan Groom With Currency Garland Shocks Internet
Years ago, India's central bank had said that bank notes should be respected as they are a symbol of the sovereign and people should not misuse them.
-
Cash-Strapped Pakistan Gets $2.3 Billion From China
Pakistani Finance Minister Miftah Ismail said on Friday that a loan of USD 2.3 billion from a Chinese consortium of banks had been credited to the central bank's account.
-
Crypto Sector Could Suffer in Pakistan as Its Central Bank Looks to Ban Cryptocurrencies: Report
Pakistan, that houses the third largest number of crypto users in the world, is deciding if it should ban the crypto sector all-together. The country’s central bank has told the Sindh High Court that cryptocurrencies are illegal and unusable as trade assets.
-
UAE Firm Files 74 Billion Lawsuit Against Pakistan's Central Bank: Report
An United Arab Emirates-based trading and investment firm has filed a lawsuit worth around Rs 74 billion against the State Bank of Pakistan (SBP) and a private bank, local media reported.
-
Pak Central Bank Reserves Fall By $123 Million To $20 Billion: Report
Foreign exchange reserves held by Pakistan's Central Bank fell 0.61 per cent on a weekly basis, according to State Bank of Pakistan's data on Thursday.
-
Pakistan Gets $2.75 Billion In COVID-19 Support Funds From IMF
Pakistan on Tuesday received $2.75 billion from the International Monetary Fund (IMF) under a Special Drawing Rights (SDR) programme to support low-income countries hit by the coronavirus, its central bank said.
-
Pakistan To Get $3 Billion Loan From UAE, Hopes For Deferred Oil Payments
The United Arab Emirates plans to deposit $3 billion in Pakistan's central bank "in the next few days", the UAE state news agency WAM reported.
-
Pak Rupee Sinks To Record Low Day After Imran Khan's 100 Days In Office
Pakistan's rupee plunged almost five percent to a record low Friday after what appeared to be a sixth devaluation by the central bank in the past year as the country struggles with an acute balance of payment crisis.
-
Pakistan Says Hit By Card-Skimming But Denies Mass Bank Data Breach
Pakistan's central bank rushed on Tuesday to reassure investors and consumers that its banking system had not been hacked after a mass skimming operation hit customers' credit and debit cards.
-
After PM Narendra Modi Warned Pak, India Fast-Tracks Kashmir Hydropower Projects
India has fast-tracked hydro-power projects worth $15 billion in Kashmir in recent months, according to news agency Reuters, which based its report on three unnamed central and state officials. The acceleration by India ignores warnings from Islamabad that power stations on rivers flowing into Pakistan will disrupt water supplies.
