KARACHI: The country’s foreign exchange reserves rose to $19.961 billion during the week ended on Sept 4, announced the State Bank of Pakistan (SBP) on Thursday.

Of the total foreign reserves, the SBP held $12.8bn and commercial banks $7.15bn during the week.

However, the SBP forex holdings showed an increase of $95m mainly attributed to proceeds of $121m from the Asian Development Bank.

MoU signed for development of stone sector

National Bank of Pakistan and Pakistan Stone Development Company have signed a memorandum of understanding to collaborate for development and promotion of marble and granite sector.

Under the MoU, both organisations will collectively pursue opportunities for provision of access of finance to the marble and granite sector as well as endeavour to develop its export potential, said a press release.

Mastercard, Silkbank join hands

Mastercard has announced a partnership with Silkbank to expand credit card issuance which will help increase the purchasing power and accelerate digital payment adoption in Pakistan, said a press release.

Published in Dawn, September 11th, 2020

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