Saturday, April 9th, 2022
Raast: a game-changer for Pakistan’s financial dealing
ISLAMABAD, APR 9 /DNA/ – Raast has turned into a game-changer for financial dealing in Pakistan, according to an article carried by Gwadar Pro on Saturday. Recently, the government announced Raast, Pakistan’s first peer-to-peer digital payment system. Online payments systems like easypaisa and jazzcash have existed before but they were essentially using bank transfers and hence were not peer to peer. Raast on the other hand aims to make cash redundant in Pakistan as it hopes to make your phone your wallet. Additionally, due to it being peer-to-peer, issues like bankRead More
ICCI slams SBP for making steep hike in benchmark interest rate
Islamabad, APR 9 /DNA/ – Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry (ICCI) has slammed the decision of the State Bank of Pakistan (SBP) to make a steep hike of 2.5% in benchmark interest rate taking it to 12.25 percent and termed it a harsh measure as it would badly affect the growth of business activities and hurt exports. He said that the policy interest rate was 4% in India, 4.75% in Bangladesh, 3.7% in China, 0.5% in Thailand and 0.75% in Hong Kong, but it hasRead More