Tag: SBP
Stay informed with SBP announcements, interest rates, banking policies, exchange rates, financial regulations, and economic updates.
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SBP approves Saudi Bank for Samba Bank due diligence
KARACHI: The State Bank of Pakistan (SBP) has granted approval to Saudi National Bank (SNB) to undertake due diligence of Samba Bank Limited, according to information received on Tuesday. Samba Bank Limited shared a communication with the Pakistan Stock Exchange (PSX) that the SBP had granted approval to SNB and its advisor, due diligence team,…
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SBP customers’ exchange rates on November 30, 2021
KARACHI, November 30, 2021 – The State Bank of Pakistan (SBP) has released the official exchange rates for November 30, 2021, providing customers and businesses with crucial information on currency values.
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SBP issues clarification on monetary policy decision
KARACHI: The State Bank of Pakistan (SBP) on Monday issued a clarification on media reports regarding the monetary policy decisions. The SBP said that over the past few weeks, certain sections of the media including op-eds have expressed concerns over the actions of the SBP, particularly with regard to monetary policy decisions and the role…
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SBP issues KIBOR rates on November 29, 2021
KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR): Following KIBOR rates as of November 29, 2021: Tenor BID OFFER 1 – Week 8.83 9.33 2 – Week 8.87 9.37 1 – Month 9.01 9.51 3 – Month 9.68 9.93 6 – Month 10.03 10.28 9 – Month 10.41…
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SBP customers’ exchange rates on November 29, 2021
KARACHI, November 29, 2021 – The State Bank of Pakistan (SBP) has published the official exchange rates for November 29, 2021, based on the weighted average rates of commercial banks.
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SBP signs $3bn deposit agreement with Saudi Fund
KARACHI: State Bank of Pakistan (SBP) on Monday signed an agreement for a deposit of $3 billion from Saudi Fund for Development (SFD). The SBP in a statement said that a deposit agreement between the Kingdom of Saudi Arabia, represented by the Saudi Fund for Development (SFD), and the Government of the Islamic Republic of…
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Bank Al Habib’s Seychelles branch license revoked
KARACHI: Bank Al Habib Limited on Friday said that on its request the Central Bank of Seychelles (CBS) revoked the license of its Seychelles branch operation. In a communication sent to the Pakistan Stock Exchange (PSX), the bank said that to further earlier disclosure made on September 14, 2021, in respect of in-principle approval from…
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FBR should continue revision in property valuation: SBP
KARACHI: The Federal Board of Revenue (FBR) should ensure continuity in the revision of immovable property valuation in order to remove disparity in property values and market rates. The State Bank of Pakistan (SBP) in its annual report 2020/2021 on State of Pakistan’s Economy released a day earlier said there was a need to expand…
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Pakistan’s forex reserves fall by $776 mn in one week
KARACHI: Pakistan’s foreign exchange reserves have declined by $776 million during a week owing to external debt repayment, the State Bank of Pakistan (SBP) said on Thursday. The country’s foreign exchange reserves fell to $22.774 billion by the week ended November 19, 2021 as compared with $23.55 billion a week ago. The reserves held by…
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PM Imran launches incentive program for remittances
KARACHI: Prime Minister Imran Khan on Thursday launched an incentive program for overseas Pakistanis sending remittance to their homeland. The incentive program namely Sohni Dharti Remittance Program (SDRP) offered jointly by the State Bank of Pakistan (SBP), Ministry of Finance and financial institutions. SDRP is an innovative program designed to incentivize Pakistani workers abroad to…
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