Karachi, October 8, 2024 – In a strategic move aimed at fortifying Pakistan’s foreign exchange reserves and stimulating the inflow of remittances, the State Bank of Pakistan (SBP) announced a series of robust incentives on Tuesday. These initiatives are specifically designed to encourage exchange companies (ECs), authorized dealers (ADs), and microfinance banks (MFBs) to amplify their efforts in mobilizing home remittances.
(more…)Tag: remittances
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Pakistan Receives 84% Higher Remittances from UAE
Pakistan has seen a substantial surge in workers’ remittances from the United Arab Emirates (UAE) in the first two months of the 2024-25 fiscal year, according to recent data released by the State Bank of Pakistan (SBP).
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Pakistan Witnesses 44% Surge in Remittances in 2MFY25
KARACHI: Pakistan has witnessed a significant 44% increase in workers’ remittances during the first two months of the fiscal year 2025 (2MFY25), providing much-needed relief as the country grapples with external economic pressures.
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Remittances Soar by 48% YoY in July 2024, Reaching $3 Billion
Karachi, August 9, 2024 – Pakistan witnessed a significant surge in workers’ remittances, with inflows rising by 48% Year on Year (YoY) in July 2024, according to data released by the State Bank of Pakistan (SBP) on Friday.
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Pakistan Receives $30.25 Billion in Workers’ Remittances in FY24
Karachi, July 9, 2024 – Pakistan received $30.25 billion in workers’ remittances during the fiscal year 2023-24, according to a report by the State Bank of Pakistan (SBP) released on Tuesday. This represents an 11 percent increase compared to the $27.33 billion received in the preceding fiscal year.
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Pakistan Records Highest Monthly Remittances $3.2B in May 2024
PkRevenue.com – Pakistan has achieved a historic milestone by recording all-time high monthly remittances of $3.24 billion in May 2024, according to official data released on Friday by the State Bank of Pakistan (SBP).
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Remittances Surge by 27.9% to $2.8 billion in April 2024
Karachi, May 10, 2024 – Pakistan has witnessed a significant surge in workers’ remittances, with inflows climbing by 27.9% to $2.8 billion in April 2024 compared to the same month last year, according to the latest data released by the State Bank of Pakistan (SBP).
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Pakistan Remittances Surge by 31% MoM in March 2024
Karachi, April 8, 2024 – Pakistan has witnessed a significant surge of 31 percent in remittances on a month-on-month (MoM) basis in March 2024.
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Workers’ Remittances into Pakistan Grow 13% in February 2024
Karachi, March 8, 2024 – The State Bank of Pakistan (SBP) reported a substantial 13 percent Year-on-Year (YoY) growth in workers’ remittances to Pakistan in February 2024.
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Inflow of Remittances Dips to $15.82 Billion in 7MFY24
Karachi, February 12, 2024 – The State Bank of Pakistan (SBP) reported on Monday that the inflow of workers’ remittances has witnessed a decline to $15.82 billion during the first seven months (July – January) of the fiscal year 2023-24.
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