State Bank of Pakistan has produced films in national and regional languages to educate farmers. Lower 15-year yields Farmers don’t grasp ag finance, hurting rural banks. Next two movies discuss agricultural loan items, processes, and documentation. SBP has released movies in national and regional languages regarding agriculture finance products and procedures to educate farmers, especially … Read more
Foreign exchange trading platforms such as OctaFX, Easy Forex, etc. are luring customers to trade on their platforms. Many citizens are investing and trading on these platforms. According to new SBP regulatory directive, sending money abroad to engage in foreign exchange trading is both dangerous and illegal. Customers are being drawn to trade on several … Read more
Rupee recovers against the dollar. The market responded positively to a deal between Pakistan and IMF. The current account deficit skyrocketed to $13.78 billion. KARACHI: The rupee rebounded sharply by 4.70 against the dollar on Thursday to end its nine-day falling streak, dealers said. The exchange rate gained Rs4.70 to end at Rs207.23 against the … Read more
Rupee weakens for the straight ninth day. The market was expecting Rupee to get stronger. The current account deficit skyrocketed to $13.78 billion KARACHI: The rupee fell for the ninth straight day against the dollar on Wednesday, as the foreign currency reached another high of Rs211.93 in the interbank market, dealers said. The exchange rate … Read more
High prices have been witnessed according to analysts. The inflation rate is likely to rise up to 16.5 per cent in the coming fiscal year. SBP has increased the policy points to 400 in 2022. KARACHI: The prices of essential items for the week ended June 16, 2022 have witnessed the highest increase in over … Read more
KARACHI: The State Bank of Pakistan (SBP) has said that the financial system of the country remained resilient during the calendar year 2021. The SBP on Tuesday issued its annual flagship publication, the Financial Stability Review (FSR) for CY21. The review presents the performance and risk assessment of various segments of the financial sector, including … Read more
KARACHI: The total e-banking transactions showed a growth of 2.6 per cent in volume and 6.5 per cent in value on a quarterly basis during the third quarter of fiscal year 2022, data by the State Bank of Pakistan (SBP) showed. The overall growth in the e-banking transactions was 32.7 per cent in volume and … Read more
KARACHI: State Bank of Pakistan (SBP) Deputy Governor Sima Kamil has advised the banks to leverage the SBP’s initiatives to boost agriculture financing. According to a statement issued on Wednesday, the deputy governor chaired the Quarterly follow-up meeting of the Agricultural Credit Advisory Committee (ACAC) in Karachi. The meeting reviewed progress on key decisions taken … Read more
The MPIMA has asked for the cancellation of the 100% cash margin and prior approval from the central bank on import LCs (letters of credit). They also requested that the R&D allocation be increased to 8-10% and that an SRO be issued for a New Duty Drawback Scheme on local mobile phone production. The Mobile … Read more
The total injections, which included the usual money supply for the seven-day open market operation (injection) on Wednesday, were Rs2.07 trillion. On May 27, Rs1.82 trillion in long-term injections were made. In May 2022, the inflation rate hit a 28-month high of 13.76 percent. Inflation has already spiked 20% this week compared to the same … Read more
Due to external loan repayments, the State Bank of Pakistan’s (SBP) total foreign reserves fell by $366 million to $9.72 billion. The SBP reported that total liquid foreign reserves were $15,771.4 million as of May 27. The decline was caused by “external debt payments,” according to the central bank. The news comes as Pakistan has … Read more
State Bank of Pakistan (SBP) on Friday coordinated all booked banks as well as miniature money banks to submit information of every computerized misrepresentation and tricks on month to month premise while domain of detailing is likewise extended from counterfeit calls by fraudsters to other advanced channels including versatile application, E-Commerce Transactions, ATMs and POS. … Read more
KARACHI: Pakistan’s foreign exchange reserves hit a 22-month low after falling for nine consecutive weeks to $17.03 billion. According to the data released by the State Bank of Pakistan (SBP) on Thursday, the foreign exchange reserves of the country fell $449 million to $17.028 billion by the week ended April 8, 2022, compared with $17.477 … Read more
The Islamic Banking Industry (IBI) has reached new peaks during CY21 as its assets surpassed the 5 trillion mark to reach Rs5,577 billion with the highest ever increase of Rs1,308 billion, whereas deposits reached at Rs4,211 billion with an increase of Rs822 billion. The State Bank of Pakistan (SBP) reported this on Friday in its … Read more
The projects for the capital market have been implemented in the recent past by the SBP in collaboration with the capital market and commercial banks. SBP Governor Dr Reza Baqir said that Roshan Equity and Raast have been initiated by the SBP and very well executed by commercial banks and CDC. “This is an occasion … Read more
KARACHI: The State Bank of Pakistan (SBP) has suspended the authorisation of Noble Exchange International (Pvt) Limited with immediate effect for violation of SBP rules and regulations, a statement said on Friday. Noble Exchange International (Pvt) Limited, an exchange company, will remain suspended till further orders, it added. The company, its head office, branches and … Read more
KARACHI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir unveiled the ‘SDGs and sustainability report – Pakistan banking sector perspective’ report in Dubai on March 23, 2022, a statement said on Friday. The report was launched in an event on the theme ‘The Future of Green and Sustainable Finance – The Role of the … Read more
KARACHI: The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell $869 million on a weekly basis, according to a statement issued on Thursday. The foreign exchange reserves of the central bank fell to $14.963 billion by the week ended March 18, 2022, compared with $15.832 billion a week ago. The SBP … Read more
KARACHI: The State Bank of Pakistan (SBP) has maintained the GDP growth forecast up to 5 per cent for the fiscal year 2021/22, the central bank stated in a review released on Thursday. The forecast is in line with the government’s target of 4.8 per cent and higher than last year’s provisional growth of 3.9 … Read more
KARACHI: The State Bank of Pakistan to organise a two-day Mera Pakistan Mera Ghar (MPMG) Mela at Circle Club Faisalabad on March 19 and 20, 2022, a statement said on Thursday. The SBP is organising the event in collaboration with banks and Naya Pakistan Housing and Development Authority (NAPHDA). The Mela will remain open for public … Read more
KARACHI: The lack of laws allowing for inflow of foreign investment capital, and appropriate venture capital friendly legislation and processes, pose considerable barriers to local and international investors alike, a report by invest2innovate stated. According to Pakistan Startup Ecosystem Report 2021 by invest2innovate, much more needs to be done to improve the regulatory environment, especially … Read more
KARACHI: The State Bank of Pakistan (SBP) in order to promote agriculture finance and food security, has announced measures to boost financing in the agriculture sector, a statement said on Friday. The measures were announced at the first meeting of the Task Force on Electronic Warehouse Receipt Financing (EWRF) held under the chairmanship of SBP … Read more
KARACHI: The State Bank of Pakistan (SBP) has enhanced the financing limit for storage of agricultural produce to 10 years from the previous seven years. The SBP, on Friday issued a circular stating that with a view to further promote investment in the storage of agricultural produce and to enhance infrastructure for Electronic Warehouse Receipt … Read more
KARACHI: The liquid foreign exchange reserves of the country slipped $206 million to $22.669 billion by the week ended March 4, 2022, the State Bank of Pakistan (SBP) said on Thursday. The country’s foreign exchange reserves stood at $22.875 billion a week ago, i.e., February 25, 2022. The official forex reserves of the central bank … Read more
KARACHI: To celebrate the journey of women’s financial inclusion in Pakistan, the State Bank of Pakistan (SBP), in collaboration with Bank Alfalah, Standard Chartered Bank and the United Bank Limited, hosted an event titled “Asaan Digital Account: Breaking Barriers”, on March 7, 2022, a statement said. SBP Governor Dr Reza Baqir was the chief guest. … Read more
Habib Bank’s earnings up 13% The Habib Bank Limited (HBL) announced the earnings for 2021 at Rs35 billion, depicting a surge of 13 per cent. The jump in the earnings on a yearly basis is primarily due to reduced provisioning charges, as last year saw elevated expenses, as part of building general coverage along with … Read more
From the vantage of the equity market, we expect the recent political events, both on international and domestic front, to take a toll on investors’ sentiments where the KSE-100 Index has already corrected 2.1 per cent in the last 10 days. Pakistan’s macro fundamentals are still fragile though return to the International Monetary Fund (IMF) … Read more
KARACHI: Transactions made through mobile phone banking recorded a surge of 138 per cent to Rs2.16 trillion during the first quarter (July-September) of the current fiscal year, according to the payment system review issued by the State Bank of Pakistan. The transactions worth Rs908 billion were made during the same quarter of the last fiscal … Read more
