SBP issues Islamic financing scheme for renewable energy projects

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued a new scheme of Islamic financing for renewable energy power projects. Read more »

Banking system witnesses massive withdrawal of Rs711 billion in July

KARACHI: The banking system has witnessed massive withdrawal of an amount around Rs711 billion during July 2019 after reaching record high deposits by end of June 2019. Read more »

Commerce ministry extends date for submitting DLTL claims

KARACHI: The ministry of commerce has extended the last date for submission /resubmission of claims of Drawback of local Taxes and Levies (DLTL). Read more »

SBP sets maximum payment limits for board members of banks, DFIs

KARACHI: The State Bank of Pakistan (SBP) on Saturday amended Prudential Regulations G-1 and sets maximum limits for payment to board members of banks and Development Financial Institutions (DFIs). Read more »

Foreign exchange reserves increase by $557 million to $15.577 billion

KARACHI: The foreign exchange reserves of the country have increased by $557 million to $15.577 billion by week ended August 09, 2019 as compared with $15.02 billion a week ago, State Bank... Read more »

Investment into premium prize bonds post 46pc growth

KARACHI: The investment in premium prize bonds of Rs40,000 denomination has increased by over 46 percent as the government stopped the circulation of bearer bonds of same denomination and launched campaign to... Read more »

Investment in saving certificates rises by 19 percent to Rs2,217 billion

KARACHI: The investment in saving certificates has registered 19 percent growth to increase Rs2,217 billion in the last fiscal year owing to better rate of interest and safe investment avenue. Read more »

Overseas Pakistanis send $2.04 billion in July

KARACHI: Overseas Pakistani workers have remitted $2.04 billion in the first month of fiscal year 2019/2020 as compared with $1.98 billion in the same month of the last fiscal year, State Bank... Read more »

SBP to monitor ATMs working during Eid holidays

KARACHI: State Bank of Pakistan (SBP) will monitor the working of Automated Teller Machines (ATMs) during Eid holidays to ensure uninterrupted availability of cash. Read more »

SBP imposes penalty on four banks for violating AML/KYC

KARACHI: The State Bank of Pakistan (SBP) has imposed penalty of Rs184.64 million upon four commercial banks for violating laws related to Anti-Money Laundering (AML)/Know Your Customer (KYC). Read more »

Foreign exchange reserves fall by $41 million to $15.02 billion

KARACHI: The liquid foreign exchange reserves of the country fell by $41 million to $15.02 billion by week ended August 02, 2019 as compared with $15.061 billion a week ago, State Bank... Read more »