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 »

Remittances grow by 5.4% in July-February

KARACHI: The workers’ remittances received during July – February 2019/2020 amounted to $15.126 billion recording an increase $770.7 million or 5.4 percent over remittances received during July – February FY19 ($ 14,355.8... Read more »

Foreign remittances increase to $13.3 billion in seven months

KARACHI: The overseas Pakistani workers have sent $13.3 billion as remittances during first seven months (July – January) of 2019/2020, showing 4.1 percent growth when compared with same period of the last... Read more »

Overseas Pakistanis send $11.4 billion during first half

KARACHI: Overseas Pakistanis have sent $11.4 billion during first half (July – December) 2019/2020, which is 3.31 percent higher than remittances received in the same period of the last fiscal year, State... Read more »

Overseas Pakistanis send $9.298 billion in five months

KARACHI: The growth in inflows of workers’ remittances was remained flat at $9.298 billion during first five months of current fiscal year, State Bank of Pakistan (SBP) said on Tuesday. Read more »

SBP announces incentives for banks to make remittance transactions attractive

KARACHI: State Bank of Pakistan (SBP) on Friday made attractive the inflow of home remittances through formal channels and announced incentives for banks. Read more »

SBP enhances limit to $5,000 for pension transactions under home remittance services

KARACHI: State Bank of Pakistan (SBP) on Monday enhanced the limit of pension transactions up to $5,000 per month under home remittance services. Read more »

Overseas Pakistanis remit $5.478 billion in July – September

KARACHI: The overseas workers have sent $5.478 billion during first quarter (July – September) of current fiscal year, which is 1.43 percent down when compared with $5.557 billion in the corresponding period... Read more »

Remittances decline by 8.37pc to $3.73 billion in July – August

KARACHI: The inflows of workers’ remittances have declined by 8.37 percent to $3.73 billion during first two months (July – August) 2019/2020 as compared with $4.071 billion in the same months of... Read more »

Unexplained foreign remittances will be subject to tax: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said that unexplained foreign remittances will be subject to income tax. Read more »