The State Bank, too, recognised this very early on in the pandemic, making inter-bank fund transfers
completely free. As a result, within the space of a year, the number of digital banking users has risen by 42%, the number of active users has risen by 72%, and the number of digital transactions by 58%.
KSE-100 rose marginally this week, with the cement and tech sectors performing well. PKR depreciated further this week, amid rising imports in the country. Local gold prices rose again this week.
What Else We’re Reading (Local)
What Else We’re Reading (International)
- Cryptocurrency use is surging in Afghanistan, as various Western banks and money-service businesses suspended operations in the country in the wake of the Taliban takeover. (WSJ)
- One of the world’s biggest bauxite exporters, Guinea, witnessed a coup this week. But while bauxite is an essential element for aluminium, citizens of the west African country rarely saw the benefits of the thriving industry. (FT)