KARACHI: The State Bank of Pakistan (SBP) has reported an increase of 4% in remittances sent by overseas Pakistanis, with the current inflow totalling $13.3billion in the first seven months of the current fiscal year.
Figures for the same time frame last year stood at $12.77billion. In January alone, the remittances escalated 9% to $1.9billion, against the sum of $1.74billion in the same month of previous year.
The increase in funds being sent from Pakistanis abroad is reportedly a result of the incumbent government’s implementation of the anti-money laundering (AML) and combating financing of terrorism (CFT) rules of the global financial transaction watchdog – the Financial Action Task Force’s (FATF).
As per the central bank’s data, remittances from the US and UK cumulatively accounted for over 32% of the total $13.3billion revenue from July-Jan in the current financial year.
However, owing to a downtrend in international oil prices, remittances from Saudi Arabia and the UAE have experienced a decline.
For more news and blogs, visit Graana Blog.
MELBOURNE — A new analysis by Deluxe Holiday Homes has highlighted significant shifts in Melbourne's…
ANKARA — A devastating fire at the Kartalkaya ski resort in northern Türkiye claimed the…
As Vietnam heads into 2025, the real estate market presents a dynamic mix of challenges…
Dubai’s secondary housing market is predicted to see robust growth in 2025, with demand for…
As Los Angeles County grapples with the aftermath of some of the most destructive fires…
On Friday, Azam Nazeer Tarar, the Minister for Law and Justice, informed the Senate that…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
