Bank | MCQs

Explanation

First Women Bank Limited commenced its business on 02 December 1989.

First Women Bank Limited (FWBL) is a commercial bank located in Karachi.

 Prime Minister Benazir Bhutto set up the first bank in December 1989. 

ND8-1-2023

Explanation

• HBL Bank gave a loan to Pakistan for its first budget
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• HBL was the first commercial bank to be established in Pakistan in 1947
• HBL has a major market share in loans to small industries, traders, and farmers. 
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• HBL moved its operations to Pakistan in 1947 at the request of Muhammad Ali Jinnah, hence becoming the first commercial bank to lay its foundation in the country

Explanation

The State Bank of Pakistan is the central bank of Pakistan.

Founded: July 1, 1948

Headquarters: Karachi

Explanation

The Industrial Development Bank of Pakistan (IDBP) was established in 1961 to promote industrial growth.

It provided financial assistance to small and medium-sized industries in Pakistan.

Industrial Development Bank of Pakistan headquarters: Karachi

Explanation

The bank that started issuing travellers' cheques for the first time in 1891 is American Express. 

Founded: March 18, 1850, in Buffalo, New York, U.S.

Headquarters: 200 Vesey Street, New York City, U.S.

It developed its

• First paper charge card in 1958
• Gold card in 1966
• Green card in 1969
• Platinum card in 1984
• Centurion Card in 1999

Explanation

The State Bank Museum & Art Gallery was established in 2004

It is a museum on Ibrahim Ismail Chundrigar Road in Karachi

In 2004, the State Bank of Pakistan decided to adapt the building as a museum

Work on the projects started in 2006 

History

The first Monetary Museum of Pakistan.

Previously, it was the Imperial Bank of India

That was a Greco-Roman building in Jodhpuri Red Sandstone, constructed in the 1920s by the British government.

Explanation

According to the Zakat and Usher Ordinance, banks are required to deduct Zakat from savings accounts on the 1st of Ramzan.

This deduction is made from the balance in the account that exceeds a certain threshold (Nisab).

It is meant to fulfill the religious obligation of Zakat.

Explanation

The State Bank of Pakistan is the central regulatory authority for the country’s banking sector.

It manages monetary policy and oversees all banking functions.

Explanation

Explanation

National Bank was created on November 9, 1949, under National Bank of Pakistan Ordinance, 1949 for the purpose.

The NBP has over 1,500 branches in Pakistan and more than 18 locations overseas.