Supreme Court orders SBP to immediately release Rs21billion funds for Punjab’s polls The Supreme Court on Friday held in-chamber hearing on the issue of release of funds for the polls. ISLAMABAD ( Web News ) The Supreme Court has directed the State Bank of Pakistan (SBP) to release Rs21 billionRead More →
MMBL and SCBF commit to fostering financial inclusion through innovative Credit Scoring & Banking Solutions ISLAMABAD ( Web News ) Mobilink Microfinance Bank Limited (MMBL) is partnering with the Swiss Capacity Building Facility (SCBF), a Switzerland-based innovative public-private platform, and the Arab Gulf Programme for Development (AGFUND), a Saudi Arabia-basedRead More →
ISLAMABAD ( Web News ) Faad Waheed, Acting President, Islamabad Chamber of Commerce and Industry has lauded the initiative of State Bank of Pakistan for relaxing some restrictions on imports and allowing imports pertaining to HS Code Chapter 84, 85 and certain items of Chapter 87 from 2nd January 2023, whichRead More →
SBP’s Reserves Further Drop To $5.82 Billion By Dec 23, 2022 For the first time in decades, the SBP’s reserves fell below the commercial banks’ foreign exchange reserves. ISLAMABAD ( JAVED MAHMOOD ) The foreign exchange reserves of the State Bank of Pakistan further dropped to $5.82 billion by DecRead More →
ISLAMABAD ( Web News ) The Islamabad Chamber of Commerce and Industry has shown great concerns over the 100bps hike in the SPB key policy rate as it would play havoc with the cost of doing business and cause the closure of many industries leading to further slump in theRead More →
Ishaq Dar announces to withdraw appeals filed by SBP & NBP against Federal Shariat Court’s verdict Says govt will make all out efforts for imposition of Islamic banking system in the country with fast pace ISLAMABAD ( Web News ) Minister for Finance and Revenue Senator Mohammad Ishaq Dar onRead More →
State Bank of Pakistan raises policy rate by 125 basis points to 15% Acting Governor SBP Dr. Murtaza Syed says ‘most important’ objective behind the move was to control spiraling inflation KARACHI ( Web News ) The State Bank of Pakistan (SBP) announced on Thursday that it had increased theRead More →
SBP presents commemorative coin to German Ambassador, marking 70 years of diplomatic relations ISLAMABAD ( Web News ) The State Bank of Pakistan (SBP) here on Wednesday presented the commemorative coin of Rs 70 to the German Ambassador for Pakistan to mark 70th anniversary of Pakistan-Germany Diplomatic relations. The coinRead More →
NBP continues to support FIA’s inquiry related to Hascol KARACHI ( Web News ) “As has been reported in the press, FIA is conducting an inquiry on Hascol Petroleum’s banking arrangements with NBP as well as several private and other public sector banks. NBP has been and continues to cooperateRead More →
SBP Hosts event on “Digital Banks – A New Era in Pakistan” KARACHI ( Web News ) SBP issued “Licensing and Regulatory Framework for Digital Banks” on January 03, 2022. To create awareness of this this important development in regulatory ambit, SBP organized an online event – “Digital Banks – ARead More →
Recently, the proposed SBP Amendment Act 2021 has been presented in parliament for formal approval. ISLAMABAD ( Web News ) The National Accountability Bureau and the Federal Investigation Agency will have full powers to investigate SBP officials for criminal or corruption-related matters under the proposed State Bank of Pakistan (SBP)Read More →
ISLAMABAD ( Web News ) Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry (ICCI) said that the policy interest rate was already higher in Pakistan compared to regional countries and the SBP has made unprecedented hike of 150 basis points in it in one go taking it toRead More →