The Securities and Exchange Commission of Pakistan (SECP) has introduced amendments to the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Regulations 2020. The notified amendments aim to enhance the scope of regulations to effectively combat financial crimes, control money laundering and combat terror financing while ensuring the integrity of its financial system. The
The Gwadar port will be operational soon and its commissioning will give a fillip to business and trade activities, Balochistan’s caretaker Chief Minister Mir Ali Mardan Domki said on Tuesday. Talking to journalists during his visit to Gwadar, he said the port was already being used for Afghan transit trade thanks to its strategic location. The chief minister said a below-average rainfall th
The US dollar is being booked without premium at least for one month in the interbank market reflecting an exchange rate stability amid fears that high inflows of export proceeds and remittances could further depreciate the greenback. “We have made deals. The buyers are booking dollars for one month without premium, which was unbelievable just 20 days back,” said Atif Ahmed, a currency dealer i
On the back of an International Monetary Fund (IMF) stimulus, Pakistan’s foreign financing inflows rose over six times to $5.41 billion in the first two months (July-August) of the current fiscal year, against just $439 million during the same period last year. In its monthly report on Foreign Economic Assistance (FEA), the Economic Affairs Division (EAD) said on Tuesday the total FEA in July a
The trading week began on the Pakistan Stock Exchange (PSX) on a positive note, but the momentum fizzled out amid a lack of positive news drivers. Topline Securities said investors displayed limited enthusiasm on Monday as they kept waiting for positive triggers. According to Arif Habib Ltd, sustaining the benchmark index above the 46,000-point level is going to be important for additional g