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Thursday 24, April 2014

 
 
 




 

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SBP quarterly reports show improvement in economy
17th April 2014 SBP quarterly reports show improvement in economy ISLAMABAD: Two quarterly reports of the State Bank on country’s economy presented in the Senate on Thursday have shown improvement in economic indicators and country on way to betterment. The government laid before the Senate two quarterly reports...
Shariah Compliant Solutions for Foreign Bill Discounting
3rd April 2014 Shariah Compliant Solutions for Foreign Bill Discounting KARACHI: The State Bank of Pakistan (SBP) on Thursday issued instructions to Islamic banks and conventional banks dealing in Islamic banking to standardize Shariah practices of Islamic banking institutions (IBIs) regarding foreign bill discounting. In a communique addressed...
SBP keeps policy rate unchanged at 10pc
15th March 2014 SBP keeps policy rate unchanged at 10pc KARACHI: The Board of directors of State Bank of Pakistan (SBP) has decided to keep the policy rate unchanged at 10 percent as almost all major economic indicators have moved in the desired direction over the past few...
No conspiracy behind resignation of SBP governor: Dar
14th February 2014 No conspiracy behind resignation of SBP governor: Dar ISLAMABAD: Minister for Finance Senator Mohammad Ishaq Dar on Friday rejected any conspiracy behind the resignation of Governor State Bank of Pakistan, Yaseen Anwar. Responding to a calling attention notice moved by Farhatullah Babar, he said,” There was...
Finance Ministry clarifies State Bank Governor’s resignation
2nd February 2014 Finance Ministry clarifies State Bank Governor’s resignation ISLAMABAD: The Spokesman of the Ministry of Finance Saturday expressed dismay over the controversy generated in a section of media over the resignation of former Governor State Bank of Pakistan, Yaseen Anwar. The spokesman said that Yaseen Anwar...
Governor State Bank Yaseen Anwar resigns
30th January 2014 Governor State Bank Yaseen Anwar resigns KARACHI: Governor State Bank of Pakistan (SBP) Yaseen Anwar has submitted his resignation on Thursday, which is also accepted by the federal government, Aaj News reported. According to sources, Ashraf Watrah likely to be the next Governor-SBP. However,...
Agriculture credit disbursement by banks increases despite challenges
21st January 2014 Agriculture credit disbursement by banks increases despite challenges ISLAMABAD: The Banks disbursed Rs 159.3 billion during the first half of current fiscal year, which is 13.5 % higher than the disbursement of Rs 140.3 billion during the corresponding period last year. According to a statement issued...
State Bank continues policy rate at 10pc
17th January 2014 State Bank continues policy rate at 10pc KARACHI: State Bank of Pakistan (SBP) has decided to keep the policy rate unchanged at ten percent. SBP Governor, Yaseen Anwar announced this while unveiling the Monetary Policy Statement (MPS) at a press conference here on Friday afternoon....
Finance Ministry to release Rs 5bn to private banks: Dar
17th November 2013 Finance Ministry to release Rs 5bn to private banks: Dar KARACHI: Federal Finance Minister Senator Ishaq Dar on Sunday presided over a high level meeting at the State Bank of Pakistan (SBP) here to review the progress on measures taken to increase remittances to the country. The meeting...
SBP accepts bids of Rs 56,763.624mn for sale of MTBs
12th November 2013 SBP accepts bids of Rs 56,763.624mn for sale of MTBs KARACHI: The State Bank of Pakistan (SBP) on Tuesday accepted bids of Rs 56,763.624 million, with a face value of Rs 58,012.095 millions, for sale of 3-months, 6-months and 12-months Government of Pakistan Market Treasury Bills through its...
SBP accepts bids of Rs 340,070.535mn for sale of MTBs
30th October 2013 SBP accepts bids of Rs 340,070.535mn for sale of MTBs KARACHI: State Bank of Pakistan (SBP) on Wednesday accepted bids of Rs 340,070.535 million, with a face value of Rs 347,480.900 million for sale of 3-months, 6-months and 12-months Government of Pakistan Market Treasury Bills through its Primary...
SBP advises banks, DFIs to ensure submission of stress testing returns
29th October 2013 SBP advises banks, DFIs to ensure submission of stress testing returns KARACHI: State Bank of Pakistan (SBP) has advised banks and development finance institutions (DFIs) to ensure timely submission of the stress testing returns to avoid legal action. The Central Bank shall take a punitive action against the respondent...
SBP accepts bids of Rs 122,996.984mn for sale of MTBs
14th October 2013 SBP accepts bids of Rs 122,996.984mn for sale of MTBs KARACHI: State Bank of Pakistan (SBP) on Monday accepted bids of Rs 122,996.984 million, with a face value of Rs 125,630.400 million, for sale of 3-months, 6-months and 12-months Government of Pakistan Market Treasury Bills through its primary...
Pak forex increase to $ 10.327bn
15th August 2013 Pak forex increase to $ 10.327bn KARACHI: The total liquid foreign reserves of the country increased to dollars 10.327 billion against the previous weekly balance of dollars 10.231 billion, said State Bank of Pakistan. According to weekly statement here on Thursday, the foreign reserves...
State Bank to issue 135 billion rupees’ new currency notes before Eid
27th July 2013 State Bank to issue 135 billion rupees’ new currency notes before Eid KARACHI: The State Bank of Pakistan has announced of issuing 135 billion rupees’ new currency notes before Eid to meet demand of people, media reports. Printing of new currency notes has been started in the Security Printing Press...
SBP, NBP offices to stay open till late on June 28, 29 to collect taxes
27th June 2013 SBP, NBP offices to stay open till late on June 28, 29 to collect taxes KARACHI: The field offices of State Bank of Pakistan’s (SBP) Banking Services Corporation and authorized branches of National Bank of Pakistan (NBP) will remain open for extended hours on 28th and 29th of this month till 12.00 a.m....
SBP reduces interest rate by 50bps, traders appreciated
22nd June 2013 SBP reduces interest rate by 50bps, traders appreciated KARACHI: The State Bank Of Pakistan reduced the policy interest rate by 50 basis points to 9 per cent while announcing the monetary policy on Friday. This decision of SBP has been hailed by the trade and industry...
SBP to intensify efforts towards promoting Islamic banking awareness
22nd June 2013 SBP to intensify efforts towards promoting Islamic banking awareness The State Bank of Pakistan (SBP) plans to intensify its efforts towards awareness and promotion of Islamic banking across the country to achieve a target of 15 percent share in overall banking industry by end 2017. Addressing the...
Branchless banking accounts grow by 20 percent
3rd May 2013 Branchless banking accounts grow by 20 percent KARACHI: Branchless banking (BB) in the country continues to grow substantially and number of BB accounts has reached 2.1 million during 2nd quarter of the current fiscal year ( Oct.-Dec. 2012) registering an impressive growth of 20%. According...
Foreign investment rose 3.8% in Pakistan
17th April 2013 Foreign investment rose 3.8% in Pakistan KARACHI: Net foreign direct investment into Pakistan rose 3.8 per cent in the nine months that ended in March to reach $622 million, compared to a year earlier, the State Bank of Pakistan said on Tuesday. Between last...
SBP leaves key policy rate unchanged at 9.5pc
12th April 2013 SBP leaves key policy rate unchanged at 9.5pc KARACHI: The State Bank of Pakistan said on Friday is was leaving its key policy rate unchanged at 9.5 percent. The State Bank said it faced two main challenges in reaching a policy decision: “to manage the balance...
Banks to remain open on Sunday to facilitate election scrutiny process: SBP
6th April 2013 Banks to remain open on Sunday to facilitate election scrutiny process: SBP KARACHI: The State Bank Saturday advised all the banks to open their offices and branches dealing with the credit information on Sunday from 8:00 am to 12:00 (midnight) to address issues regarding credit information of the contesting candidates....
SBP directs banks on pay minimum profit rate of 6%
15th March 2013 SBP directs banks on pay minimum profit rate of 6% ISLAMABAD: The State Bank of Pakistan (SBP) has directed commercial banks to pay minimum profit rate of 6.0% per annum on all Pak Rupee saving deposits on average monthly balances with effect from April 01, 2013. “This rate...
Pakistan in critical balance of payments situation: ADB
7th March 2013 Pakistan in critical balance of payments situation: ADB ISLAMABAD – Pakistan has reached a critical balance of payments situation and will need another package from the International Monetary Fund before the end of the year to avert a crisis, one of the biggest lenders to the...
SBP cuts interest rate by 0.5% in new Monetary Policy
14th December 2012 SBP cuts interest rate by 0.5% in new Monetary Policy KARACHI: State Bank of Pakistan (SBP) has announce its new Monetary Policy with a 0.5% decrease in the interest rates. With this reduction, the interest rate reduced from10% to 9.5%.  The new Monetary Policy was announced by Governor...
Pak persuades US to release $600m as Coalition Support Fund
3rd December 2012 Pak persuades US to release $600m as Coalition Support Fund ISLAMABAD: With serious pressure on balance of payment position, the country’s economic managers are trying to persuade the United States to release $600 million on account of Coalition Support Fund (CSF) as quickly as possible. A senior official...
 
 
 



 
 



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