The State Bank of Pakistan (SBP) has launched an exciting game for kids and youngsters on vacation at home during coronavirus Lockdown. According to the details, State Bank in association with the National Institute of Banking and Finance presented a game called Pom Pak, Learn to Earn which was a part of a national program … Read more
American business and financial services Moody’s has stated that On March 26th, State Bank of Pakistan (SBP), the country’s central bank, cut its policy rate 150 basis points to 11%, reduced banks’ capital conservation buffers (CCB) 100 basis points to 1.5%, relaxed terms for new and existing loans and announced other forbearance measures to increase … Read more
The State Bank of Pakistan (SBP) has announced relief for the consumers after the coronavirus outbreak. The banks and development finance institutions (DFIs) would defer the principal amount on consumer loans to support the borrowers in the ongoing coronavirus situation. The SBP posted on their official twitter account that borrowers availing consumer finance for auto, … Read more
Pakistan central bank has implemented a Regulatory Approval System (RAS) for submission of cases related to foreign exchange policy and operations dealt by its Exchange Policy Department (EPD), SBP and Foreign Exchange Operations Department (FEOD), SBP‐BSC respectively. The State Bank of Pakistan (SBP) RAS, has become operational from March 24th, 2020, provides an online platform … Read more
State Bank of Pakistan (SBP) announced to relax loans for households and businesses in light of the ongoing coronavirus pandemic which is expected to severely shake the Pakistani economy. SBP stated in a series of Tweets “in collaboration with the Pakistan Banks Association (PBA) — was aimed at helping people “manage their finances through this … Read more
The State Bank of Pakistan (SBP) reduced interest rates to 11 percent. The State Bank’s Monetary Policy Committee’s decision came in a wake of economic difficulties due to ongoing Coronavirus pandemic. SBP called an emergency meeting in which decision made to reduce by 150 basis points. The policy rate has dropped by 150 basis points … Read more
The State Bank of Pakistan (SBP) on Tuesday reduced the interest rate by 1.5%, taking it to 11%, in order to facilitate businesses and exporters and those who are looking for loans from banks to run business operations. “The global economy has been hit hard by the coronavirus, with the pandemic causing several businesses, including … Read more
State Bank of Pakistan has started digital payments amid COVID-19, here on Thursday as the country is facing a partial lockdown. According to a press release issued by the central bank, in the wake of the recent outbreak of COVID19 (Coronavirus), SBP is undertaking a number of measures to contribute towards meeting the challenges faced … Read more
In order to facilitate Overseas Pakistanis, the government will be launching Employees’ Old-Age Benefits Institution (EOBI) pension scheme for the expatriates. Special Assistant to the Prime Minister on Overseas Pakistanis Syed Zulfikar Abbas Bukhari informed about the EOBI pension scheme. Govt to introduce EOBI pension scheme for Pakistani expats “It is the first time in … Read more
Waqar Zaka, a renowned TV show host, has filed a petition in Sindh High Court (SHC) asking for ending ban on cryptocurrency in Pakistan. The petitioner, Waqar Zaka has said that digital currency will help bring in more investment in Pakistan. In its reply, the State Bank of Pakistan (SBP), has said that many people … Read more
State Bank of Pakistan (SBP) has announced Monetary policy for the next two months, left the benchmark interest rate unchanged at an eight-year high of 13.25%. SBP Governor Baqir Raza addressed a press conference in Karachi n here on Tuesday, he said that the central bank has decided to maintain the interest rate and has … Read more
The Ministry of Finance stated exports increased by 4 per cent to 12.3 billion dollars in the Jul-Dec 2019 period while the imports decreased by 21 percent to 22 billion dollars in Jul-Dec period. According to the details, Finance Ministry said that State Bank of Pakistan Forex Reserves had increased to 11.5 billion dollars last … Read more
ISLAMABAD: The federal government has asked the State Bank of Pakistan (SBP) to divest its entire shareholding in House Building Finance Company (HBFC), which will pave the way for the housing finance company’s privatisation, officials say. According to the Finance Division, HBFC is a public limited company in which the government held 62.50% shares while the … Read more
Current fiscal deficit of Pakistan reduced by 72.6 percent during first five month of FY 2019-2020. Prime Minister’s Adviser on Finance Abdul Hafeez Sheikh tweeted two different charts to show performance of the government in finance sector. He wrote in his tweet that the current account deficit reduced by seventy three percent during the first … Read more
PTI Government’s efforts to boost the foreign exchange reserves have shown the results as the reserves held by the central bank have shot up to one and a half year, striking the $10-billion mark. The foreign exchange reserves held by the central bank increased 18% on a weekly basis, according to data released by the … Read more
Singapore, December 02, 2019 — Moody’s Investors Service (“Moody’s”) has today affirmed the Government of Pakistan’s local and foreign currency long-term issuer and senior unsecured debt ratings at B3 and changed the outlook to stable from negative. The change in outlook to stable is driven by Moody’s expectations that the balance of payments dynamics will … Read more
The State Bank of Pakistan (SBP) has announced its monetary policy for the next two months on Nov 22 (Friday). According to details, Governor State Bank Baqir Raza chaired a meeting regarding monetary policy for the next 2 months of the current fiscal year at the Karachi Head Office on Friday. A statement issued by … Read more
The Lahore Chamber of Commerce & Industry welcomed State Bank of Pakistan’s decision to allow advance payments up to $ 10,000 per invoice on behalf of importers/exporters for import of raw materials and spare parts on Wednesday. The LCCI President Irfan Iqbal Sheikh, said that SBP deserves appreciation for accepting LCCI demand for advance payment. … Read more
State Bank of Pakistan has released its Annual Report on The State of Pakistan’s Economy for the fiscal year 2018-19 today. According to the report, several policy measures were taken during the year to manage the twin deficits crisis. In particular, adjustment of exchange rate to market fundamentals, curtailment in public sector development expenditure, and … Read more
The State Bank of Pakistan has announced a monetary policy for the next two months today. As per the details, the basic interest rate has not been changed by the State Bank while the policy rate of the State Bank is maintained at 13.25%. Central Bank of the World lowers their policy rates because US … Read more
Pakistan has received $500 million from Asian Development Bank (ADB). According to State Bank of Pakistan the central reserves have received $530 million after which State Bank reserves have increased from $8 billion. Commercial banks currently have total reserves of $7 billion. Total foreign currency reserves have increased to $15 billion currently in the country. … Read more
