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Money and Banking: Pakistan


A downward trend was seen on the money market on Friday as the rupee drifted lower against the dollar and euro, dealers said. The rupee fell by two-paisa in relation to the dollar for buying and selling at Rs 98.74 and Rs 98.76 respectively, they said.

The following were the revised rates of debt securities on Friday (July 25, 2014).

In order to encourage consumer financing, State Bank of Pakistan (SBP) has allowed financing of cars older than five years and up to nine years. Earlier, financing of cars up to five years old was allowed and with this move, the banks can now finance cars older than five years to facilitate the consumers.
President and CEO of Tameer Microfinance Bank Ltd, Nadeem Husain has said that Microfinance banking is more advance in Pakistan than any other country in the region as verification system through Nadra is not available in India, Bangladesh or most of the countries in the region.
Dubai Islamic Bank Pakistan Limited (DIBPL) and 1Link Guarantee Limited (1Link) signed an alliance to offer electronic bill payment facility to DIBPL customers. CEO of both institutions and their senior management members were also present at the signing ceremony.
United Bank Limited (UBL) and Honda Atlas Cars Pakistan Limited recently entered into an alliance offering an exclusive financing deal on all Honda cars. This alliance provides exciting offers to customers such as priority delivery, low processing fees, extended warranty, free fuel, free oil & filter change and quicker turn-around time.
Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on 22nd July, 2014.


Index Closing Chg%
Arrow DJIA 16,960.57 0.72
Arrow Nasdaq 4,449.56 0.50
Arrow S&P 1,978.34 0.48
Arrow FTSE 6,791.55 0.44
Arrow DAX 9,644.01 1.53
Arrow CAC-40 4,330.55 1.82
Arrow Nikkei 15,457.87 1.13
Arrow H.Seng 24,216.01 0.31
Arrow Sensex 26,126.75 0.55

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln