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To assist the real-estate sector, the Government of Pakistan announced a reduction in interest rates on mortgage loans in 2012. [1] [2] In 2017, the housing gap in Punjab, one of the largest provinces of Pakistan, was around 2.3 million units, this figure is expected to reach the figure of 11.3 million units by the end of 2047. [3]
May 23: Record high inflation in the month of May, 2008 resulted in the unexpected increase in the interest rates by State Bank of Pakistan which eventually resulted in sharp fall in Karachi Stock Exchange. [10] [11] July 17: Angry investors attacked the Karachi Stock Exchange in protest at plunging Pakistani share prices. [12] [10]
Before independence on 14 August 1947, during the British colonial era, the Reserve Bank of India was the central bank for the then undivided subcontinent. On 30 December 1948 the British Government's commission distributed the Reserve Bank of India's reserves between Pakistan and India—30 percent (750 M gold) for Pakistan and 70 percent for India.
Pakistan had since 1979 requested that India sell the property, or at least lease it to its government as a tribute to its founder in order to convert it into their Consulate. Though P. V. Narasimha Rao , India's foreign minister in 1980, agreed in principle to lease Jinnah House as the residence of local Consulate-General of Pakistan, the plan ...
In 2016, TPL Properties changed its status from a private limited company to a public company and was listed on the Pakistan Stock Exchange, following an initial public offering at a strike price of PKR 12.50.
In line with State Bank of Pakistan vision 2020 to enhance and promote financial inclusion, 1LINK launched Pakistan’s first domestic payment scheme – PayPak in April, 2016. [4] PayPak has 10% of market share in terms of volume of cards in the market. [5] While Visa has 40%, Mastercard and UnionPay have 25% each of market share. [5]
Selling rate: Also known as the foreign exchange selling price, it refers to the exchange rate used by the bank to sell foreign exchange to customers. It indicates how much the country's currency needs to be recovered if the bank sells a certain amount of foreign exchange. Middle rate: The average of the bid price and the ask price.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]