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.
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
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
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
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
Do you want to make money online without having to rely on advertising revenue? Are you tired of promoting other people’s products and do you wish you could sell your own instead? Then why not go ahead and do it? Selling your own information products is one of the best ways to make money online. Let’s take a look at why selling information products can be a better option for
The essence of Islamic banking lies in the rejection of interest for loaning of money and in only making investments in businesses that provide goods or services that are consistent with Islamic principles. It is a relatively new field in modern banking. The first Islamic banks appeared in the late 20th century with the help and guidance of world renowned Islamic scholars and financial experts to apply Sharia-compliant banking principles
In absolute dollar terms, Pakistan’s economy is 27th largest in the world. The semi-industrialized economy encompasses textiles, chemicals, food, and agriculture. Karachi and Punjab’s urban centers are home to diversified economies. Past internal politics, population booms, and confrontation with India has taken its toll on the economy in past decades. The recent government policies, foreign investment, and access to global markets have positively poised the country. Pakistan has seen solid