Karachi, November 16, 2023: As the concept of Mobility-as-a-Service gains momentum across the world, public transport users in Pakistan are increasingly looking ahead to an interconnected, unified digital service that allows them to plan, book, and pay ahead of time for all modes of transportation, according to a study by Visa, the world’s leader in digital…
Karachi, November 08, 2023: JS Investment Limited (JSIL) has announced the launch of JS Islamic Premium Fund (JSIPF), a shariah-compliant investment solution for its investors. This new offering is a straightforward, medium-risk investment solution that delivers consistent and attractive Shariah-compliant returns. JSIPF reflects JSIL’s core values, emphasizing reliability and stability. It focuses on a diversified…
Karachi, October 30, 2023: The State Bank of Pakistan (SBP) on Monday decided to maintain its benchmark interest rate – the cost of bank lending – at 22 percent. At its meeting today, the SBP’s Monetary Policy Committee (MPC), decided to maintain the policy rate at 22 percent. In a recent meeting, the Monetary Policy…
Islamabad, October 23, 2023: The State Bank of Pakistan (SBP) released today its Annual Report on the State of Pakistan’s Economy for the fiscal year 2022-23. According to the report, Pakistan’s economy faced multiple challenges during FY23, as longstanding structural weaknesses exacerbated the impact of successive domestic and global supply shocks of unprecedented nature. The…
Islamabad, October 23, 2023 :In order to facilitate the IT exporters to boost the exports of IT and IT enabled services, SBP has increased the permissible retention limit of IT exporters from 35% to 50% of their export proceeds in the Exporters’ Specialized Foreign Currency Accounts (ESFCAs). Further, the usage of the balances available in…