Deposit Protection Corporation launches its website

Deposit Protection Corporation (DPC) is pleased to announce the formal launch of its website, accessible at http://www.dpc.org.pk. Through this website DPC has embarked upon a more depositor-centric and responsive public awareness program. Launching of its own website is part of DPC’s broader communication strategy towards all its stakeholders, which focuses… Continue reading

State Bank of Pakistan renews the Status of VIS and PACRA as Eligible External Credit Assessment Institutions (ECAIs)

State Bank of Pakistan has renewed the status of both credit rating agencies operating in Pakistan namely “VIS Credit Rating Company Limited (VIS)” and “The Pakistan Credit Rating Agency Limited (PACRA)” as eligible / recognized External Credit Assessment Institutions (ECAIs) for the calendar year 2020. Banks and DFIs using the… Continue reading

State Bank of Pakistan allows financing for BMR and expansion under its Temporary Economic Relief Facility

The State Bank of Pakistan (SBP) has opened up it subsidized Temporary Economic Relief Facility (TERF) for Balancing, Modernization and Replacement (BMR) and expansion of existing projects. This measure has been taken to provide further stimulus to the economy in the context of COVID-19’s impact on the economy, to support… Continue reading

Ministry of Finance and State Bank of Pakistan introduce risk-sharing mechanism to support bank lending to SMEs and small businesses to avail SBP’s Refinance Facility to Support Employment

Taking cognizance of the SMEs finding difficulties in arranging adequate collateral and banks’ risk averseness in taking exposures for such lending under the SBPs Refinance Scheme to Support Employment and Prevent Layoff of Workers, Ministry of Finance has stepped forward to shoulder risk sharing with banks. Accordingly, the Federal Government… Continue reading

SBP says the economic outlook remains subdued

KARACHI: The State Bank of Pakistan released its Second Quarterly Report for FY20 on the State of Pakistan’s Economy. According to the report, the stabilization efforts and regulatory measures yielded notable improvements during the first half of FY20. The current account deficit contracted to a six-year low, foreign exchange reserves… Continue reading

SBP extends its relief package to borrowers availing loans under refinance schemes

KARACHI Expanding the scope of its recently announced relief package for households and businesses, State Bank of Pakistan (SBP) has taken another major step today. State Bank has allowed similar relaxations, as provided under the relief package, on its concessional refinance schemes. Under various refinance schemes loans are provided with… Continue reading

Expansion of local Chinese Yuan (CNY) clearing and settlement mechanism in Pakistan

KARACHI: State Bank of Pakistan (SBP) has allowed Standard Chartered Bank (SCB) Pakistan Limited to establish their local Chinese Yuan (CNY) clearing and settlement setup in Pakistan. Standard Chartered Bank (SCB) Pakistan can now open Chinese Yuan (CNY) accounts of the banks operating in Pakistan to facilitate settlement of CNY… Continue reading