Stable customers’ deposits and high liquidity also remain key strengths, providing banks with ample low-cost funding.
Financial experts have welcomed the State Bank of Pakistan’s (SBP) decision to slash interest rate. SBP on Thursday cut its key interest rate by two per cent. The new rate has come down from 11 per cent to 9 per cent.
Murtaza Syed, an "eminently qualified economist with rich IMF experience", takes over at the end of the three-year term of incumbent Reza Baqir, Finance Minister Miftah Ismail said on Twitter.
The Pakistani central bank had been without a full-time governor since May and one of Ahmad's first tasks will be to chair a monetary policy meeting to consider its policy rate.
Pakistan’s central bank kept its key interest rate unchanged on Monday, in line with market expectations, and signaled that it would pause its tightening cycle as record-high inflation may have peaked. The State Bank of Pakistan’s (SBP) key rate remains at a record high of 21 per cent. The central bank has raised the rate by
Saudi Arabia’s gross domestic product (GDP) has exceeded the ceiling of SAR 4.155 trillion ($1 trillion) for the first time, with the Kingdom joining the trillion-dollar
Abdullah Mohamed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) and Chairman of Abu Dhabi Chamber of Commerce and Industry,
The Federal Tax Authority (FTA) has signed a Memorandum of Understanding (MoU) with the Umm Al Quwain Chamber of Commerce and Industry