Foreign investment grows by 51pc during first quarter

KARACHI: The total inflow of foreign private investment increased by 51 percent growth during first quarter (July-September) of 2019/2020, State Bank of Pakistan (SBP) said on Thursday. Read more »

SBP directs banks to verify trade price before approving import, export forms

KARACHI: State Bank of Pakistan (SBP) has directed banks, exchange companies to verify trade prices before approving import or exports forms. Read more »

Open account, advance payments considered as higher risk transactions for trade based money laundering

KARACHI: State Bank of Pakistan (SBP) has advised financial institutions dealing foreign exchange to enhance due diligence on higher risk transactions to stop trade based money laundering. Read more »

SBP issues framework for controlling trade based money laundering, terror financing

KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued framework for controlling trade based money laundering and terror financing. Read more »

Pakistan’s foreign exchange reserves at $14.993 billion

KARACHI: The total liquid foreign exchange reserves of Pakistan declined nominally by $11 million to $14.993 billion by week ended October 04, 2019 as compared with $15.003 billion a week ago, State... 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 »

Reforms showing improvement in economy: SBP governor

KARACHI: The reforms to address the macroeconomic challenges faced by the economy are now beginning to bear fruit and improvement in the external sector has become visible, said Dr. Reza Baqir, Governor,... Read more »

Investment in premium Rs40,000 prize bonds surges by 156 percent

KARACHI: The investment in premium prize bonds of Rs40,000 denomination has sharply increased by 156 percent to Rs14.84 billion by August 2019 as compared with Rs5.78 billion in the same month of... Read more »

Unregistered prize bonds worth Rs206 billion surrendered on discontinuation announcement

KARACHI: An amount of around Rs206 billion has been surrendered following the government announcement of discontinuation the circulation of unregistered prize bonds of Rs40,000 denomination. Read more »

SBP governor emphasizes on rapid digitization of payments; cash payments major hurdle in documentation of economy

KARACHI: Dr. Reza Baqir, Governor, State Bank of Pakistan (SBP) has said that cash payments are major hindrance in documentation of economy and stressed the need for rapid digitization of payment system. Read more »

SBP imposes Rs1,123 million penalty on commercial banks for violating rules, regulations

KARACHI: State Bank of Pakistan (SBP) has imposed penalty to the tune of Rs1,123 million during first quarter (July – September) of current fiscal year 2019/2020 for violating rules and regulations. Read more »

Pakistan’s foreign exchange reserves fall by $769 million to $15 billion

KARACHI: Pakistan’s total foreign exchange reserves declined by $769 million to $15 billion by week ended September 27, 2019, State Bank of Pakistan (SBP) said on Thursday. Read more »