REVERTING TO NORMAL OFFICE TIMINGS
Effective from May 17, 2021, the State Bank of Pakistan will revert to normal office hours, which shall also be followed by all banks / DFIs / MFBs as under:…
STRONG GROWTH IN DIGITAL FINANCIAL TRANSACTIONS IN THE COUNTRY IN Q2 FY2020/21
The State Bank of Pakistan released its Quarterly Payment System Review (QPSR) for the second quarter, October – December 2020, of the fiscal year 2020-21 today, which shows strong growth…
Governor Baqir to moderate Consultative Dialogue on SBP’s Banking on Equality Policy hosted by World Bank
The State Bank of Pakistan has developed a draft policy titled ‘Banking on Equality’, which aims to introduce a gender lens within the financial sector through targeted measures to bring…
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…
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…
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…
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…
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…
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…
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…
SBP announces concessionary financing facility for special persons
KARACHI: State Bank of Pakistan issued a concessionary Small Enterprise Financing and Credit Guarantee Facility for Special persons. Tariq Bajwa, the Governor State Bank of Pakistan announced this special facility…
FBR issues advice for payment of Rs7.23 billion Sales Tax refunds
KARACHI: Federal Board of Revenue (FBR) has issued an advice to the State Bank of Pakistan (SBP) for making payment of sales tax refunds amounting to Rs7.236 billion to facilitate…
Current account deficit shrinks 16.7pc in seven months
KARACHI: Pakistan’s current account deficit narrowed 16.79 percent to $8.424 billion during the first seven months of the current fiscal year of 2018/19 due to what the government said ‘credibility…
State Bank of Pakistan raises interest rates by 25bps to 10.25pc
KARACHI: Contrary to the market expectations and to the dismay of business community, the monetary policy committee of State Bank of Pakistan has decided to raise the policy rate by…
Growth target unachievable; structural reforms needed to push country’s productivity frontier: SBP
KARACHI: Comparing the first quarter of current fiscal year with last year’s corresponding quarter, the State Bank of Pakistan (SBP) has said the 6.2 percent target for real GDP growth…
Dr. Arif Alvi, emphasized the need for growth of Islamic Finance in Pakistan
KARACHI: Dr. Arif Alvi, the President of Pakistan expressed his support for the development of Islamic banking industry in the country in a meeting held with Mr. Irfan Siddiqui –…
Abu Dhabi fund allocates $3.0bn deposit to State Bank of Pakistan
DUBAI: The Abu Dhabi Fund for Development has allocated $3 billion to Pakistan through a deposit into the State Bank of Pakistan, the fund said on Tuesday. Pakistan is battling…
Pakistan’s current account deficit widens to $1.66 billion in December
KARACHI: Pakistan’s current account deficit widened 37.3 percent to $1.66 billion in December 2018 as the trade balance remained in deficit driven by increases in goods imports while investment from…
Pakistan’s forex reserves decline further
KARACHI: Pakistan’s total liquid foreign reserves fell 1.7 percent week-on-week to $13.832 billion during the week ended on November 9, 2018, the central bank said. The country’s total foreign exchange…
Pakistan economy maintaining growth momentum despite external headwinds
KARACHI: State Bank of Pakistan (SBP) has released its First Quarterly Report for FY18 on the State of Pakistan’s Economy. According to the Report, preliminary data on key macroeconomic indicators…