SBP allows banks to open selected branches on May 27

KARACHI: State Bank of Pakistan (SBP) allowed banks to open their selected branches on May 27, 2020 in order to facilitate pubic. The central bank on Wednesday said that in order to... Read more »

Bank holidays for Eid-ul-Fitr announced

KARACHI: Banks shall remain closed during May 22 – 27, 2020 (Friday to Wednesday) on the occasion of Eid ul Fitr. In an official note on Wednesday issued by State Bank of... Read more »

Rupee eases against dollar as payment demand persists

KARACHI: The Pak Rupee eased by three paisas against dollar on Wednesday as high demand remained persist for import payment. The rupee closed at Rs160.77 to the dollar from previous day’s closing... Read more »

SBP tightens remittances reporting system

KARACHI: State Bank of Pakistan (SBP) on Wednesday tightened reporting of monthly foreign exchange return submitted by banks. The SBP said that it had been observed that authorized dealers (banks) report country... Read more »

SBP allows reimbursement claims for payment of wages, salaries

KARACHI: State Bank of Pakistan (SBP) on Tuesday decided to allow reimbursement claims for those business concerns, which paid wages and salaries through own resources. The central bank through a notification on... Read more »

Rupee depreciates by 37 paisas on higher import demand

KARACHI: The Pak Rupee further depreciated by 37 paisas against dollar on Tuesday owing to higher demand for import and corporate payments. The rupee closed at Rs160.74 to the dollar from previous... Read more »

Rupee falls by 27 paisas on improving demand

KARACHI: The Pak Rupee fell by 27 paisas against dollar on Monday owing to higher demand for import and corporate payments. The rupee closed at Rs160.37 to the dollar from last Friday’s... Read more »

Corporate, super tax rates should be aligned for banks

KARACHI: Federal Board of Revenue (FBR) has been proposed to bring down the corporate tax rate for banks at par with other corporate sector and also treatment of super tax for banking... Read more »

SBP slashes policy rate by 100 basis points to 8 percent

KARACHI: The State Bank of Pakistan (SBP) on Friday decided to further reduce the policy rate by 100 basis points to 8 percent as inflation outlook has improved further in light of... Read more »

Rupee ends firmer against dollar

KARACHI: The Pak Rupee ended firmer against dollar on Friday owing to lackluster demand from importers and corporate buyers. The rupee ended Rs160.10 to the dollar, the same previous day’s level, in... Read more »