SBP starts receiving 10 rupee coin; will introduce it in couple of weeks

According to the spokesperson of State Bank of Pakistan (SBP), the SBP has started to receive 10 rupee coin from Pakistan Mint from Monday. However, the federal government is expected to introduce the 10 rupee coin in a couple of weeks. While talking to Express Tribune, the spokesperson of SBP stated: “The SBP started receiving Rs10 coins from Pakistan Mint — the nation’s oldest mint located in Lahore’s Shalimar Town

Deadline to exchange old currency notes is 30th November 2016

It generally takes time to get rid of the old bank notes especially in our part of the world. Although the brand new ones are produced less often, the old ones stay with us for a long time before they expire. However, State Bank of Pakistan (SBP) has declared that an individual can exchange old currency notes with new ones by 30th November 2016. Replace the old currency notes out

85 billion rupees invested in Dubai realty market by Pakistanis in last 6 months

Pakistanis have invested around 3 billion dirhams (PKR 85 billion) in Dubai realty market in last 6 months. According to the report based on Dubai land department that appeared in UAE media, Pakistanis are just behind Indians and Britons. India has invested a whopping amount of 7 billion dirhams while Britons made an investment of colossal 4 billion dirhams. On the other hand, Pakistan is No. 3 on the list

Money involved in real estate business to be brought in the tax net, says PM Adviser

One of the safest avenues to convert black money into white is to invest the money into real estate business, especially in Pakistan. However, the trend is going to get a massive hit as real estate will no longer be a benign shelter for black money after the passage of the finance bill recently, Adviser to the Prime Minister on Revenue, Haroon Akhtar Khan said. While talking to a private

Money Stacking by Pakistanis exceeds India in Swiss Banks

Although soaring Swiss accounts held by Pakistanis is not a novel idea but there has been an upsurge in these numbers which raises an eyebrow amid rising crackdown against unofficial money and stringent regulatory policies in the recent past. Going against the world wide trend, money stacking in Central Swiss Bank by Pakistani nationals has jumped up by 16 percent reaching a swooping figure of 1.5 billion francs almost exceeding

Evolution of Pakistani Currency since 1947

When Pakistan came into existence on 14th August 1947, it did not have its own currency. Instead, Indian currency notes were used by Pakistan which were over-stamped with ‘Government of Pakistan’ title. The Reserve Bank of India acted as the common currency authority for India and Pakistan until 30th September 1948 to allow a cushion period for 13 months for the newly born state, Pakistan, to issue its own currency.

Pakistan Under the Crutches of A Vicious Debt Cycle

Recep Tayyip Erdogan, the Turkish Prime Minister who is considered controversial in the global arena for his authoritarian policies ranging from banning Twitter to allowing females to laugh out loud in public. But what the world is missing out or is kept under the deception is the Turkish state and its development under the same Erdogan who has helped his nation evolve by leaps and bounds. Around 2001, Turkey’s financial

Top Banks in Pakistan

The banking sector in Pakistan is thriving and has been ever since the introduction of formal banking institutions in the region. There has been a growth in the number of facilities offered by private banks, keeping up with the rapid changes in technology and modes of payment. There has been an increase in branchless banking as well. Most companies now offer mobile and online banking, and credit cards have greatly diminished

Bitcoins Are Surging in Popularity: Here’s Why

You have likely heard about Bitcoins, and perhaps you’ve followed their rapid ascent in the marketplace over the last six months. But when we talk about using Bitcoins and the increasing popularity of the monetary system, what exactly are we talking about? The short answer is digital money. Bitcoins are a form of money, just like the American dollar, the Euro, the rupee and the pound. The primary difference is

Takaful – The Islamic Alternative to Conventional Insurance

What will become of your family if you die or become disabled tomorrow? A very scary thought indeed, but this thought crosses our minds every now and then. Risks are an inherent part of life; the possibility of having your car stolen, or getting involved in an accident, the chance of your house being destroyed by a fire and many other such risks are a part of our lives; especially