It will be the minimum amount in bank accounts on which zakat will be deducted on the eve of the first Ramazan. This year’s Zakat Nisab is Rs. 44,519 higher than the previous year’s threshold of Rs. 135,179 for Zakat deductions on savings and other accounts. However, no deduction of Zakat at source shall be […]
In a statement, Senator Rubina Khalid stated that the year 2025 is designated for the ‘Benazir Hunarmand Programme’, which aims to assist deserving persons in securing employment after training from various opportunities. BISP stands as one of the most significant social safety net initiatives in Pakistan, initiated in July 2008 with the objective of alleviating […]
He acknowledged the Bank’s role as a reliable partner in Pakistan’s progress and appreciated its financing in various sectors including energy, transportation, education, and health. Muhammad Aurangzeb lauded the Bank’s investment in the Mohmand Dam, along with other members of the Arab Coordination Group, as a model for co-financing similar or larger projects in the […]
The highly anticipated stimulus came on top of a series of measures announced over the last weeks that have included interest rate cuts and liquidity for banks. Despite the scale of the package, Finance Minister Lan Fo’an said China could dig deeper. “At present, we are accelerating the use of additional treasury bonds, and ultra-long-term […]
The central bank slashed the interest rate by two percent to 17.5% in the monetary policy announced today. The Monetary Policy Committee (MPC) of the central bank met today to fix the policy rate for the next one and a half months. Analysts were expecting that the committee will continue monetary easing between 150-200bps on […]
In the previous policy announcement, the central bank had fixed the policy rate at 19.5 percent. The Monetary Policy Committee (MPC) of the central bank meets today to fix the policy rate for the next one and a half months. Experts expect the committee to continue monetary easing between 150-200bps, on a lower inflation outlook […]
The decision was taken on Saturday and announced by NDB chief Dilma Rousseff at a Cape Town, South Africa meeting. By joining “this important development institution, the financial arm of the BRICS group, Algeria is taking a major step in its process of integration into the global financial system,” the Algerian finance ministry said in […]
The central bank said in a statement it had set an interest rate of 0.25 percent — up from around zero to 0.1 percent — having ditched its maverick negative rate policy aimed at boosting economic growth in March. Its decision, announced after a two-day policy meeting, caused the yen to surge briefly before weakening […]
The Indian rupee closed at 83.7275 against the U.S. dollar, unchanged from its close on Friday, after hitting an all-time low of 83.74 earlier in the session. Factors such as outflows from local equities, volatility in the Chinese yuan, and tepid risk appetite have contributed to weakness in the rupee in recent sessions. The currency […]
According to sources, the government of Pakistan has expedited the process of privatizing First Women Bank, and the UAE government has shown interest in the privatization of the bank, sources added. Sources said that efforts have been made for a government-to-government privatization plan for First Women Bank since February 2024. The privatization of First Women […]
