Syed Wasimuddin News
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Pakistan’s rupee weakened beyond 100 per dollar to a record low in the so-called kerb market amid concern loan repayments to the International Monetary Fund will further erode the nation’s foreign-exchange reserves.
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Pakistan cut its benchmark interest rate to the lowest level in five years as policy makers seek to stimulate an economy battered by an energy crisis and insurgency that is likely to need more International Monetary Fund aid.
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The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest.
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Pakistan cut its benchmark interest rate for a second meeting to support a faltering economy after inflation eased to the lowest level in almost three years.
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The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest.
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Pakistan’s central bank will release its monetary policy statement on Sept. 29, Syed Wasimuddin, a spokesman for the State Bank of Pakistan, said by telephone from Karachi today.
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Pakistan left interest rates unchanged for a third meeting as it struggles to damp inflation exceeding 10 percent and counter growth threats from sliding exports, a budget deficit and security risks.
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Pakistan’s central bank , seeking to double Islamic banking assets in three years, is urging lenders from the Persian Gulf to open branches in rural areas.
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The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest.
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Pakistan’s central bank left interest rates unchanged as it assesses the impact of a 2 percentage-point cut since the end of July.
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