ADB approves $500 Million loan for Climate and Disaster Resilience in Pakistan
The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support climate change and disaster risk reduction and resilience in Pakistan.
Mehfooz
PSX Shariah Group Drives Better Access to Shariah Compliant Financial Products
The Pakistan Stock Exchange (PSX) established a Shariah Focus Group in December 2023 to further the objective of meeting the financial preferences of its diverse investor base. This pioneering Group comprises of distinguished Shariah scholars from various schools of thought, practitioners of Islamic financing, capital market experts, and industry professionals, who are united to enhance the accessibility and advisory of Shariah-compliant financial products for investors.
Editor
Current Account Surplus of $119 Million Recorded in September 2024
The Current Account Balance of Pakistan further improved in September 2024 with a surplus of US$ 119 million as compared to a surplus of US$ 29 million in August 2024, According to the State Bank of Pakistan reported on Yesterday(Oct 21).
PSX’s GoP Ijarah Sukuk Issuance Hits PKR 1 Trillion Mark
Pakistan Stock Exchange is pleased to announce a significant milestone achievement – the issuance of GoP Ijarah Sukuk (GIS), through the Capital Market Infrastructure, crossing the PKR 1.0 trillion mark.
Adil Aziz
RDA Inflows Surge to $8.749 Billion in September 2024
The inflow of remittances under Roshan Digital Account (RDA) has risen to US $8.749 billion by the end of September 2024 as compared to US $8.581 billion by August (2024) end.
ABHI partners with People to enhance employee financial well-being
ABHI, a leading embedded finance platform in the MENAP region, has partnered with People™️, Pakistan’s largest HR services provider, to offer earned wage access (EWA) to People™️ clients. This collaboration will empower employees across industries to access their earned wages in real time, promoting financial wellness and reducing financial stress.
Share of digital payments surged to 84% in FY-24
The State Bank, report said that ongoing transformation of Pakistan’s payment landscape towards digital payments underwent significant advancements as share of digital payments surged to 84% during fiscal year 2023-24.
Significant Rise in Pakistan’s Liquid Foreign Reserves to $16 Billion
The total liquid foreign reserves of Pakistan surged to cross US$ 16 billion as of October 04, 2024 while the forex reserves held by the State Bank of Pakistan increased to $ 10,808 million.
World Investor Week 2024 Marked at PSX with a Gong Ceremony
Pakistan Stock Exchange (PSX), under the aegis of World Federation of Exchanges (WFE), of which PSX is an Affiliate Exchange, in partnership with International Organization of Securities Commission (IOSCO), marked World Investor Week (WIW) 2024 through a gong ceremony held at PSX Trading Hall. The WIW with the theme of ‘Ring the Bell for Financial Literacy’ is being held from October 7 – 13, 2024. This is the fourth consecutive year that PSX is holding and organizing the World Investor Week.
Digital retail payments rise to 84% in FY-24, Governor SBP
Governor State Bank of Pakistan, Jameel Ahmad, stated that the share of digital payments in total retail payments by volume has risen from 76% in FY23 to 84% in FY24 while the overall number of digital retail transactions has increased by 30%.