Listen to article KARACHI: Pakistan Stock Exchange (PSX) extended its remarkable ascent on Wednesday as the benchmark KSE-100 index smashed past the 130,000 milestone for the first time in history, gaining 2,145 points day-on-day. The bourse saw robust buying by big investors while low returns on bonds pushed more market players to build their investment portfolios. The…
The State Bank of Pakistan (SBP) has said that it expects profit to reach Rs2.4 trillion in outgoing fiscal year 2024-25 ending in June. Speaking to analysts at a briefing following the rate cut decision the bank is on track to meet the government’s estimated target of Rs2.4 trillion. The central bank’s profit projection is…
The State Bank of Pakistan building in Karachi. — SBP website/File The State Bank of Pakistan (SBP) will observe a four-day closure from June 6 to 9, coinciding with Eid ul Adha public holidays, a spokesperson confirmed on Tuesday. Subsequently, all the banks, microfinance lenders and other financial institutions will also observe Eid holidays during…
The State Bank of Pakistan (SBP) issued a clarification regarding cryptocurrencies labeled as ‘illegal’ in Pakistan, stating that its 2018 advisory did not classify virtual assets (VAs) as unlawful instead it merely advised its regulated entities to refrain from engaging with them due to the ‘absence of a legal and regulatory structure’. “With reference to…
Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. — Reuters ISLAMABAD: The State Bank of Pakistan (SBP) has clarified that it never declared virtual assets (VAs) illegal, saying that its 2018 advisory merely advised regulated entities to refrain from dealing in them due to the absence of a…
