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SBP governor

SBP keeps policy rate unchanged at 11%

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SBP

KARACHI: The State Bank of Pakistan (SBP) has announced that the key interest rate will remain unchanged at 11 percent for the next two months. Addressing a press conference, SBP Governor Jameel Ahmad said the decision was made after reviewing all key economic indicators. He noted that inflation reached its lowest point in April but … Read more

SBP decides to introduce new currency notes of all denominations

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SBP

KARACHI: State Bank of Pakistan (SBP) has decided to introduce new currency notes of all denominations in the country.

The SBP said new notes will be printed with international security features and this move will prove a setback for those stashing black money in the in country. The new notes will be introduced with covering, serial numbers, and designs.

SBP Governor Jamil Ahmed said competitions will be organized in February for the new design of the currency notes.

He said the new banknotes will carry international standard features to curb the flow of fake currency notes in the country. He said all matters related to the launch of the new currency will be finalized by March 2024.

The SBP governor said that the currency notes will not be replaced at once like in India where such a decision caused chaos.

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SBP decides to keep key policy rate unchanged at 22%

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Key policy rate in Pakistan

The State Bank of Pakistan (SBP) has decided to maintain the key policy rate at 22%, a move that came as a surprise to the market. The announcement was made by SBP Governor Jameel Ahmed after the Monetary Policy Committee (MPC) meeting. During a press conference, Governor Ahmed projected a growth rate of 2% to … Read more

Low cost housing scheme good opportunity for business community, says SBP Governor

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SBP Governor

Governor State Bank of Pakistan Dr Reza Baqir on Friday urged the business community to avail low cost housing scheme loans for the construction of 5 to 10 marla houses for their employees. Read more: ‘Loans being given to those who were earlier not allowed to enter banks’ The risks of these loans would be borne … Read more

Govt, stakeholders review SME Policy

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Shaukat Tarin

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has chaired a meeting to review the proposed Small and Medium Enterprise (SME) Policy, a statement issued by the Finance Ministry said. The Industries and Production secretary briefed the meeting on the proposed SME Policy and the concerns of stakeholders. The concerns were … Read more

SBP governor appointed Islamic financial body chairman

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SBP

KARACHI: The Council of Islamic Financial Services Board (IFSB), Malaysia, has appointed State Bank of Pakistan (SBP) Governor Dr Reza Baqir as the chairman of its board for 2022, a statement said on Friday. Dr Baqir’s appointment was approved by the IFSB Council in its 39th meeting held on December 9, 2021 in Abu Dhabi. … Read more

SBP governor highlights cyber-security issues

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SBP

KARACHI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir has highlighted the issues and challenges of cyber-security faced by the banks, a statement said. He highlighted the issues in his keynote speech at the Islamic Financial Services Board (IFSB). Malaysia organised the 13th Public Lecture Series on the theme of “Sustainability and Cyber Resilience” … Read more

State Bank to announce monetary policy on 27th

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State Bank of Pakistan

KARACHI: The Monetary Policy Committee of the State Bank of Pakistan (SBP) will meet on Tuesday, July 27, 2021, at the SBP Karachi to decide about the monetary policy, a statement said. State Bank of Pakistan Governor Dr Reza Baqir will address a press conference on the same day after the meeting, it added. Meanwhile, … Read more

SBP launches FX Regulatory Approval System

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Pakistan’s Total Liquid Foreign Reserves Stand at US$ 23.02 billion

In line with the Government’s vision of Digital Pakistan, the State Bank of Pakistan (SBP) Governor Dr. Reza Baqir has launched the SBP FX Regulatory Approval System (RAS) for end-to-end digitalization of FX related case submission process. According to the details, this initiative will transform FX operations by replacing paper-based requests with electronic submission which … Read more

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