Bank Lending for Affordable Housing Gains Momentum
As a result of numerous measures of State Bank of Pakistan and full support of the Government, bank lending for the Government’s flagship markup subsidy scheme, commonly known as Mera…
FBR rescinds all circulars and instructions issued on foreign remittances exemption
KARACHI: Federal Board of Revenue (FBR) has rescinded all circulars and instructions previously issued on the matter of foreign remittances exemption. In Pakistan taxation or non-taxation of foreign remittances has…
State Bank enhances investment opportunities for Non-Resident Pakistanis and facilitates inflow of funds in Roshan Digital Accounts through Money Transfer Operators
In order to provide further investment and financing opportunities to non-resident Pakistanis (NRPs), SBP has allowed direct investment through the rupee based Roshan Digital Accounts (RDA), into the shares of…
Prime Minister launches Roshan Apna Ghar, another initiative of SBP to facilitate overseas Pakistanis in housing
The Honorable Prime Minister of Pakistan, Mr. Imran Khan, praised the efforts and hard work of State Bank of Pakistan (SBP) and government agencies in crossing another impressive milestone of…
State Bank of Pakistan addresses concerns and brings transparency in the sale of third party products for consumer convenience and protection
In addition to the typical banking products or services, banks often offer or sell other financial products that are provided by other financial institutions, generally referred to as bancassurance or…
SBP Completes Digitization of the Regulatory Approval System for Foreign Exchange cases to support Ease of Doing Business
SBP initiated the project of ‘End-to-End Digitalization of FX Cases’ with an objective to enhance ease of doing business in the country by providing a fully digitalized platform to business…
SBP introduces innovative SME Asaan Finance scheme (SAAF) for lending to SMEs without collateral
The State Bank has introduced an innovative initiative to improve access to finance for Small and Medium Enterprises (SMEs) in collaboration with the Government of Pakistan with the express aim…
SBP Notifies Changes in Foreign Exchange Manual to Promote Ease of Doing Business
State Bank of Pakistan (SBP) has notified revision of foreign exchange instructions pertaining to commercial remittances with the objectiveof promoting ease of doing business and facilitating legitimate cross border commercial…
SBP announces new initiatives at Fifth Stakeholders’ Meeting on Digital Financial Services
At the 5th Stakeholders meeting on Digital Financial Services held on Monday, 2nd August 2021, Governor State Bank of Pakistan, Dr. Reza Baqir, announced two new initiatives to facilitate the…
SBP makes amendments in forex regulations related to imports including transition from Electronic Import Form to Pakistan Single Window
Considering the market dynamics and keeping pace with changing business environment, SBP is in the process of revising the foreign exchange regulations, in consultation with relevant stakeholders in a phased…
Economic recovery gains further momentum: SBP
KARACHI: The State Bank of Pakistan released its Third Quarterly Report on The State of Pakistan’s Economy for the fiscal year 2020-21 today. According to the report, there was growing…
Financial System exhibited resilience amid COVID-19 says Financial Stability Review CY20 of SBP
The State Bank of Pakistan (SBP) has issued its flagship annual publication, the Financial Stability Review (FSR) for CY20. The Review presents performance and risk assessment of various stakeholders in…
SBP starts releasing data on progress of Roshan Digital Account, depicting record inflows in June
In line with SBP’s commitment to transparency in its key policy measures, SBP from today has begun releasing regular data on the progress of Roshan Digital Account (RDA). Based on…
Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 23,297.4 million on 25-Jun-2021. The break-up of the foreign reserves position is as under: – Foreign reserves held…
DIGITAL TRANSACTIONS CONTINUE TO SHOW ROBUST GROWTH IN Q3 FY21: SBP
The State Bank of Pakistan released its Quarterly Payment System Review (QPSR) for the third quarter, January – March 2021, of the fiscal year 2020-21 today, which shows strong growth…
President of Pakistan launches SBP’s policy for financial Inclusion of Persons with Disabilities
In a major initiative, the State Bank of Pakistan unveiled a comprehensive policy to enhance the financial inclusion of Persons with Disabilities (PWDs) today. The Honourable President of Pakistan, Dr.…
State Bank of Pakistan and JazzCash join hands to increase financial literacy among youth
National Institute of Banking and Finance (NIBAF) – a subsidiary of the State Bank of Pakistan (SBP), and JazzCash, Pakistan’s leading FinTech Company, have signed a Memorandum of Understanding for…
SBP mandates Banks to use estimation models for assessing informal income to extend low cost housing finance
In order to facilitate low cost housing finance applicants with informal income, the State Bank of Pakistan (SBP) has asked banks to develop and deploy income estimation model for extension…
SBP maintains free IBFT pricing for transactions up to Rs25,000 per month and allows capped charges for higher amounts
To cope with the extraordinary situation of lockdowns amid Covid-19 Pandemic in 2020, SBP advised banks and other service providers in March 2020 to offer free of cost Inter Bank…
Foreign investors appreciate SBP FX Remittance Process: OICCI survey
Karachi: OICCI members have appreciated the significant improvement in the FX remittance processing time and in growing engagement of the State Bank of Pakistan leadership with the key stakeholders. The…