KARACHI: State Bank of Pakistan (SBP) on Thursday issued the following Karachi Interbank Offered Rates (KIBOR) on September 09, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.91 | 7.41 |
| 2 – Week | 6.96 | 7.46 |
| 1 – Month | 7.01 | 7.51 |
| 3 – Month | 7.14 | 7.39 |
| 6 – Month | 7.31 | 7.56 |
| 9 – Month | 7.41 | 7.91 |
| 1 – Year | 7.50 | 8.00 |
Karachi, September 09, 2021 – The State Bank of Pakistan (SBP) has released the exchange rates for customers on Thursday, September 09, 2021.
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KARACHI: State Bank of Pakistan (SBP) on Wednesday said that as a result of numerous measures of the SBP and full support of the government, bank lending for the government’s flagship markup subsidy scheme, commonly known as Mera Pakistan Mera Ghar (MPMG), has picked up momentum.
Since the launch of the scheme, applications of Rs 154 billion under MPMG have been received by banks and banks have approved housing finance of over Rs 59 billion up till August 31, 2021. Similarly, the pace of disbursement under MPMG that was initially slow because of a number of factors, including the availability of housing units, has also picked up.
By August 31, 2021, disbursement under the scheme has reached Rs 11.5 billion, showing an increase of around Rs 3.8 billion or 49 per cent in August 2021.
On average, to date banks have approved 38 percent of the amount applied and 19 percent of the approved amount has been disbursed.
These approval and disbursement ratios have similarly risen over the past few months as banks have put in place the needed upfront investment in procedures and technology to process applications for low-cost housing.
It would be pertinent to mention here that banks disbursed amounts in different stages of construction or purchase. Thus the pace of disbursement is contingent upon the speed of construction and completion of the purchasing process.
Since the announcement of MPMG scheme last year, SBP has taken various enabling steps such as introducing standardized and simple application form; adopting an informal income assessment model; providing relaxations in prudential regulations; establishing helpdesks at all SBP field offices; and, designing a complaint portal supported by a network of focal persons of all banks across all geographical areas.
On the instructions of SBP, banks are accepting MPMG applications from over 8,000 dedicated branches across the country. Further, SBP has also allocated targets to each bank under MPMG.
An e-tracking system within each bank and a dedicated joint call center for the facilitation of the applicants have also been established. Naya Pakistan Housing Development Authority (NAPHDA) and Pakistan Banks’ Association (PBA), a representative body of banks, are fully supporting MPMG.
It is expected that with the ongoing efforts by SBP, Government, and Banks, bank finance for MPMG will gain further momentum in the days to come.
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the following Karachi Interbank Offered Rates (KIBOR) on September 08, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.89 | 7.39 |
| 2 – Week | 6.94 | 7.44 |
| 1 – Month | 7.01 | 7.51 |
| 3 – Month | 7.14 | 7.39 |
| 6 – Month | 7.29 | 7.54 |
| 9 – Month | 7.40 | 7.90 |
| 1 – Year | 7.49 | 7.99 |
Karachi, September 08, 2021 – The State Bank of Pakistan (SBP) has issued the exchange rates for customers on Wednesday, September 08, 2021.
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KARACHI: The last date to exchange or encash the unregistered of bearer prize bonds with denominations of Rs40,000, Rs25,000, and Rs15,000 is September 30, 2021.
According to a circular issued by the State Bank of Pakistan (SBP), the Finance Division, Government of Pakistan has allowed to exchange/replace or convert Rs40,000, Rs25,000, and Rs15,000 denomination prize bonds (bearer) up to September 30, 2021.
The SBP directed the banks that branch/region wise consolidated data of cited denomination prize bonds held by them on the last date i.e. September 30, 2021, shall be shared latest by October 01, 2021.
The government on June 24, 2019, announced to discontinue the circulation of Rs40,000 denomination national prize bonds.
Similarly, on December 10, 2020, the government announced to discontinue the circulation of Rs25,000 denomination prize bonds.
In April 2021, the finance ministry announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold.
The finance divisions also issued the procedure for the redemption/conversion of bonds.
The bonds can be converted to premium prize bonds (registered) of denomination of Rs25,000 and Rs40,000 (subject to the adjustment of differential amount) through 16 field offices of State Bank of Pakistan (SBP) Banking Services Corporation, and branches of six commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited, and Bank Alfalah Limited.
The bonds can be replaced with Special Saving Certificates/Defence Saving Certificates through the 16 field offices of SBP Banking Services Corporation, authorized commercial banks, and the National Savings Center.
The bonds will only be encashed by transferring the proceeds to the bonds holder’s bank account through the 16 field offices of SBP Banking services corporation well as the authorized commercial bank branches and to the Saving Accounts at National Savings Centers.
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on September 07, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.91 | 7.41 |
| 2 – Week | 6.95 | 7.45 |
| 1 – Month | 7.00 | 7.50 |
| 3 – Month | 7.13 | 7.38 |
| 6 – Month | 7.29 | 7.54 |
| 9 – Month | 7.38 | 7.88 |
| 1 – Year | 7.49 | 7.99 |
Karachi, September 07, 2021 – The State Bank of Pakistan (SBP) has issued the exchange rates for customers on Monday, September 07, 2021.
(more…)KARACHI: The State Bank of Pakistan (SBP) issued the latest Karachi Interbank Offered Rates (KIBOR) on Monday, September 6, 2021, which reflect the rates at which banks are willing to lend to one another in the interbank market.
(more…)Karachi, September 06, 2021 – The State Bank of Pakistan (SBP) has released the latest exchange rates for various foreign currencies against the Pakistani Rupee (PKR) on Monday, September 06, 2021.
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