Digital Enablement of Exchange Companies
Building an innovative and inclusive digital financial services ecosystem is one of the key objectives of State Bank of Pakistan (SBP) under its Strategic Plan 2023 – 2028. To achieve…
Governor SBP advises banks to promote climate resilient & technology based Agri-financing
The State Bank of Pakistan (SBP) convened the Agricultural Credit Advisory Committee (ACAC) meeting today in Multan, reaffirming its commitment to boosting agriculture financing and driving sustainable growth in Pakistan’s…
Banks must Increase their Outreach and Penetration to Agriculture Sector-Governor SBP
The annual meeting of Agricultural Credit Advisory Committee (ACAC) was held on December 14, 2023 in Lahore, under the chairmanship of the Governor, State Bank of Pakistan (SBP), Mr. Jameel…
Governor SBP urges banks to support agriculture sector to recover from devastation of floods
Governor State Bank of Pakistan (SBP), Mr. Jameel Ahmad, while chairing the annual meeting of Agricultural Credit Advisory Committee (ACAC) in Hyderabad referred to the devastation caused by recent floods…
Complaints against banks for not accepting Donations for Floods are misleading
It has been noticed that a few complaints have been circulating on social media platforms regarding non-acceptance of donations from general public in “CM Flood Relief Fund” of KP and…
SBP sets agriculture credit disbursement target of Rs1.8 trillion for FY23
State Bank of Pakistan (SBP) has assigned annual agriculture credit disbursement target of Rs1,800 billion to the financial institutions for FY23 to cater to the agriculture credit demand in the…
SBP automates verification of refinance claims under Export Finance Scheme to facilitate Exporters and Banks
In continuation of steps taken for ease of doing business, State Bank of Pakistan (SBP) has automated the verification of refinance claims under the Export Finance Scheme (EFS). Automated verification…
Deputy Governor SBP urges banks to leverage SBP’s recent initiatives to boost agriculture financing
Deputy Governor – State Bank of Pakistan (SBP), Ms. Sima Kamil, chaired the Quarterly Follow-up Meeting of Agricultural Credit Advisory Committee (ACAC) today in Karachi. The meeting reviewed progress on…
The Government and SBP refute baseless claims circulating on social media regarding Foreign Currency Accounts, Roshan Digital Accounts and Safety Deposit Lockers
The Government of Pakistan and the State Bank of Pakistan assure all account holders maintaining Foreign Currency Accounts (FCA), Roshan Digital Accounts (RDA) and Safety Deposit Lockers in banks in…
Banks give on-spot conditional approvals of Rs7.4 billion in first Mera Pakistan Mera Ghar Mela in Faisalabad
In an overwhelming response to the first ever Mera Pakistan Mera Ghar (MPMG) Mela organized by State Bank in Faisalabad, banks logged in applications of Rs18 billion from applicants. In…
SBP and Banks hold Mela in Faisalabad to promote financing for affordable housing
State Bank of Pakistan (SBP) together with banks held a Mela in Faisalabad today to increase awareness about the affordable housing financing scheme introduced jointly by the SBP and the…
Governor SBP hosted Director General FIA and Banks’ Presidents to strengthen coordination against money laundering, digital frauds, and cyber-attacks
Governor State Bank of Pakistan, Dr. Reza Baqir, chaired a meeting today with Director General FIA Sanaullah Abbasi to strengthen and coordinate efforts of SBP, banks and Federal Investigation Agency…
Mastercard Unveils New Carbon Calculator Tool for Banks
New Mastercard feature enables banks to equip people with carbon footprint data and insights about environmental impact Recent research by Mastercard revealed 90% of adults in are willing to take…
Banks, Custom Houses, ports to remain open on May 10th and 11th
KARACHI: State Bank has notified that banks shall open 50% of their total authorized branches dealing in foreign exchange & trade activities on 10th May, 2021 (Monday) while the remaining…
Prime Minister lauds support of Overseas Pakistanis, banks and SBP as he marks Roshan Digital Account crossing $1billion and launches Roshan Apni Car and Roshan Samaaji Khidmat
Prime Minister Mr. Imran Khan paid rich tribute to Overseas Pakistanis for their overwhelming response to the Roshan Digital Account (RDA). He said their support and vote of confidence have…
SBP issues comprehensive instructions to banks to enhance customer experience with Call Centers
Call centers are rapidly becoming customers’ top choice to communicate with their Banks. Over time, the use of call centers by customers to seek information, guidance and redressal of complaints…
Majority banks to start processing foreign exchange digitally by February end: Ashraf Khan
KARACHI: Managing Director of State Bank of Pakistan’s Banking Services Corporation Muhammad Ashraf Khan has said that digitalization of foreign exchange, which started in March 2020, has been expanded from…
SBP conducts a review of complaints against Banks/DFIs/MFBs from 2016 to 2019
State Bank of Pakistan (SBP) has conducted a four year (2016-2019) review of complaints against Banks/MFBs/DFIs. The objective of the review was to gain insights on effectiveness of complaint management…
GST be reduced to 14 percent to provide much needed relief: Agha Shahab
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has stressed that the rate of GST should be reduced by 3 percent to 14 percent from…
Banks to electronically submit foreign exchange related cases through SBP online portal
KARACHI: Two core departments of State Bank of Pakistan (SBP) related to forex operations i.e. Exchange Policy Department (EPD) & Foreign Exchange Operations Department (FEOD) have recently arranged series of…