KARACHI: The State Bank of Pakistan (SBP) on Monday announced that the banks shall be closed for two days on August 18 – 19, 2021 on the occasion of Ashura.
The central bank in a circular addressing presidents and chief executive officers (CEOs) of all banks that the SBP will remain closed on 18th and 19th August, 2021 (Wednesday and Thursday) being 9th and 10th Muharram-ul-Haram, 1443 A.H. on the occasion of Ashura.
KARACHI: State Bank of Pakistan (SBP) on Friday issued following Karachi Interbank Offered Rates (KIBOR) on August 13, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.91 | 7.41 |
| 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 | 7.43 | 7.93 |
| 1 – Year | 7.50 | 8.00 |
KARACHI, August 13, 2021 — The State Bank of Pakistan (SBP) has released the latest exchange rates for various currencies, based on the weighted average rates of commercial banks.
(more…)KARACHI: State Bank of Pakistan (SBP) on Thursday issued following Karachi Interbank Offered Rates (KIBOR) on August 12, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.87 | 7.37 |
| 2 – Week | 6.93 | 7.43 |
| 1 – Month | 6.99 | 7.49 |
| 3 – Month | 7.14 | 7.39 |
| 6 – Month | 7.32 | 7.57 |
| 9 – Month | 7.43 | 7.93 |
| 1 – Year | 7.51 | 8.01 |
KARACHI: The State Bank of Pakistan (SBP) has unveiled the latest exchange rates for customers on Thursday, August 12, 2021.
(more…)ISLAMABAD: State Bank of Pakistan (SBP) will launch incentives/ rewards for overseas Pakistanis on transactions of inward remittances.
The SBP will launch a mobile phone application for overseas Pakistanis, which will offer incentives/rewards to overseas Pakistani against each remittance transaction in accordance under criteria.
The above application will be formally launched towards the end of October 2021, this was discussed at a meeting of Economic Coordination Committee (ECC) of the Cabinet of Wednesday.
Finance Minister Shaukat Tarin chaired the meeting. The Secretary Finance made a detailed presentation on National Remittance Loyalty Program (NRLP) before the Committee.
He stated that remittances form backbone of the economy. The proactive policy measures by the Government and the SBP have incentivised the overseas Pakistanis and encouraged them to remit their hard earned money through formal channels.
This has contributed in achieving record remittance of $29.4 billion in the last fiscal year. It’s a clear reflection of confidence in Pakistan’s economy by overseas Pakistanis.
After due deliberations, the ECC approved the structure and estimated financial impact of the NRLP with a view to incentivize remitters to transfer funds through formal channels thus further strengthening the inflow of remittances.
The Finance Minister directed to exercise due diligence before the launch for seamless integration with all service providers to ensure smooth working of NRLP.
Among others, Federal Minister for Interior Sheikh Rasheed Ahmed, Federal Minister for Privatization Muhammad Mian Soomro, Federal Minister for Energy Hammad Azhar, Federal Minister for Planning and Development Asad Umar, Advisor to the PM on Commerce Abdul Razak Dawood, Advisor to the PM on Institutional Reforms and Austerity Dr. Ishrat Hussain, SAPM on Power & Petroleum Tabish Gauhar, SAPM on Finance and Revenue Dr. Waqar Masood, Federal Secretaries and other senior officers participated in the meeting. Governor State Bank of Pakistan Reza Baqir also participated through a video link.
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued following Karachi Interbank Offered Rates (KIBOR) on August 11, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.91 | 7.41 |
| 2 – Week | 6.95 | 7.45 |
| 1 – Month | 7.00 | 7.50 |
| 3 – Month | 7.15 | 7.40 |
| 6 – Month | 7.35 | 7.60 |
| 9 – Month | 7.44 | 7.94 |
| 1 – Year | 7.52 | 8.02 |
KARACHI: On Wednesday, August 11, 2021, the State Bank of Pakistan (SBP) released the latest exchange rates for customers based on the weighted average rates of commercial banks.
(more…)KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced bank holiday on August 14, 2021.
The State Bank will remain closed on Saturday, August 14, 2021 on the occasion of Independence Day as declared by the government of Pakistan.
The central bank through a circular informed the presidents and chief executives of all banks, development financial institutions (DFIs) and Microfinance Banks (MFBs).
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued following Karachi Interbank Offered Rates (KIBOR) on August 10, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.91 | 7.41 |
| 2 – Week | 6.95 | 7.45 |
| 1 – Month | 7.00 | 7.50 |
| 3 – Month | 7.15 | 7.40 |
| 6 – Month | 7.35 | 7.60 |
| 9 – Month | 7.45 | 7.95 |
| 1 – Year | 7.52 | 8.02 |