Jul 7

SBP enables banks to get regulatory approval digitally

KARACHI: The State Bank of Pakistan (SBP) has launched Regulatory Approval System (RAS) under which banks have been enabled to get approval digitally. The SBP in a statement issued on Wednesday said that in order to promote digitalization and encourage eco-friendly practices, an online portal has been developed which called SBP RAS to enable regulated […]

by Hamza Shahnawaz

Dollar ends near Rs208 in interbank; Rupee fall continues

Jul 6

Dollar ends near Rs208 in interbank; Rupee fall continues

KARACHI: The US dollar ended near Rs208 as the Pakistan Rupee (PKR) continued depreciation on Wednesday in interbank foreign exchange market. The exchange rate recorded a decline of Rs1.05 in rupee value to end at Rs207.99 to the dollar from previous day’s closing of Rs206.94 in the interbank foreign exchange market. READ MORE: Rupee sharply […]

by Faisal Shahnawaz

SBP makes permission mandatory for motor car import

Jul 6

Automotive, Money & Banking, Top stories

SBP makes permission mandatory for motor car import

KARACHI: The State Bank of Pakistan (SBP) on Tuesday made it mandatory for banks to take prior permission for making transactions related to import of motor cars in Completely Knocked Down (CKD). The SBP issued a circular to implement the decision. The central bank invited attention of banks to EPD Circular Letter No. 9 dated […]

by Faisal Shahnawaz

Pakistan may see further 100bps hike in policy rate

Jul 5

Money & Banking

Pakistan may see further 100bps hike in policy rate

KARACHI: Pakistan central bank is scheduled to review policy rate on July 07, 2022 and analysts believed an increase of up to 100 basis points due to surge in inflation. A report of K Trade Research issued on Tuesday, stated that the State Bank of Pakistan (SBP) scheduled its monetary policy meeting for July 07, […]

by Faisal Shahnawaz

Rupee sharply falls Rs206.94 to dollar in interbank

Jul 5

Money & Banking, Top stories

Rupee sharply falls Rs206.94 to dollar in interbank

KARACHI: The Pakistan Rupee (PKR) fell sharply by Rs2.38 to Rs206.94 against the US dollar on Tuesday owing to long holidays ahead for Eid ul Adha. The exchange rate witnessed a decline of Rs2.38 in rupee value to end at Rs206.94 against the dollar as compared with previous day’s closing of Rs204.56 in the interbank […]

by Faisal Shahnawaz

SBP adopts Sharia standards of accounting, auditing

Jul 4

Money & Banking

SBP adopts Sharia standards of accounting, auditing

KARACHI: State Bank of Pakistan (SBP) on Monday said it has adopted Sharia standards of accounting and auditing for Islamic banks in the country. In a statement, the central bank said strengthening Shariah compliance of Islamic banking industry in line with the best international practices is one of the key pillars of SBP’s 3rd Strategic […]

by Faisal Shahnawaz

Bank holidays announced for Eid ul Adha 2022

Jul 4

Money & Banking, National

Bank holidays announced for Eid ul Adha 2022

KARACHI: The State Bank of Pakistan (SBP) on Monday announced bank holidays on the occasion of Eid ul Adha 2022. In a circular issued to president and chief executives of all banks, development financial institutions and microfinance banks, the central bank said the SBP will remain closed from 8th to 12th July, 2022 (Friday to […]

by Faisal Shahnawaz

Rupee starts FY23 with 29 paisas recovery to dollar

Jul 4

Money & Banking, Top stories

Rupee starts FY23 with 29 paisas recovery to dollar

KARACHI: The Pakistan Rupee (PKR) started FY23 (fiscal year 2022/2023) with a recovery of 29 paisas against the dollar on Monday. The exchange rate witnessed a recovery of 29 paisas in rupee value to end at Rs204.56 to the dollar from last closing of Rs204.85 on June 30, 2022 in the interbank foreign exchange market. […]

by Faisal Shahnawaz

Rupee plunges 30% to dollar in fiscal year 2021-2022

Jun 30

Money & Banking, Top stories

Rupee plunges 30% to dollar in fiscal year 2021-2022

KARACHI: The Pak Rupee (PKR) has recorded a massive decline of 30 per cent against the dollar during fiscal year 2021/2022, according to data made available to PkRevenue.com on Thursday. The exchange rate witnessed a decline of Rs47.31 or 30 per cent from Rs157.54 on the start of July 01, 2021 to the closing of […]

by Faisal Shahnawaz

Pakistan’s central bank launches digital financial literacy for farmers

Jun 29

Money & Banking, National

Pakistan’s central bank launches digital financial literacy for farmers

KARACHI: The State Bank of Pakistan (SBP) on Wednesday said it launched a series of videos about agriculture financing products for farmers. The central bank in a statement said it had launched a series of videos in national and regional languages about agriculture financing products and procedures to create awareness among the farming communities across […]

by Hamza Shahnawaz