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Money and Banking: Pakistan


The rupee sustained its overnight firmness against the dollar on the local currency market on Tuesday, dealers said. The rupee slipped by two-paisa in relation to the dollar for buying Rs 104.20 and it did not move any side for selling at Rs 104.22, they said.

The following were the revised rates of debt securities on Tuesday (September 01, 2015).

Prime Minister Nawaz Sharif has directed State Bank of Pakistan (SBP) and federal enforcement agencies to take effective steps towards eliminating terrorism financing, official sources told Business Recorder. Prime Minister gave these directions to the SBP and law enforcement agencies during the federal cabinet meeting on 24 August after a detailed discussion on the National Action Plan (NAP) - 6 days before Dr Asim Hussain, former Federal Minister for Petroleum and Natural Resources and a close aide of former President and Co-Chairman PPP, Asif Ali Zardari, was given into the custody of Rangers.
The Asian Development Bank (ADB) and Department for International Development (DFID) of the United Kingdom will co-finance $327 million cost of the 59 kilometres Hassanabdal-Havelian Expressway (E-35) project. "ADB and DFID are joining hands to promote regional connectivity, economic growth and stability in Pakistan. Our partnership with DFID for the E-35 is an important step in this direction." said Sean O'Sullivan, Director General of ADB's Central and West Asia Department who witnessed the signing of the agreement here on Tuesday.
Micro-savings crossed Rs 50 billion in second quarter (April-June) of 2015 according to latest figures published in a quarterly bulletin - MicroWatch released by the Pakistan Microfinance Network (PMN) - an association of Microfinance providers in Pakistan.
Faysal Bank Limited and Barkat Islamic Banking, one of the leading Islamic Banking divisions in Pakistan will be acquiring "Al-Qist", a dynamic, user-friendly and Shariah Compliant Islamic Banking software, developed, designed and implemented by Arittek Limited.
Mutual Funds Association has issued open-end funds daily prices for Tuesday (September 01, 2015)


Index Closing Chg%
Arrow DJIA 16,058.35 2.84
Arrow Nasdaq 4,636.11 2.94
Arrow S&P 1,913.85 2.96
Arrow FTSE 6,058.54 3.03
Arrow DAX 10,015.57 2.38
Arrow CAC-40 4,541.16 2.40
Arrow Nikkei 18,165.69 3.84
Arrow H.Seng 21,185.43 2.24
Arrow Sensex 25,696.44 2.23

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln