Karachi, October 2, 2024 – In a significant move aimed at providing relief to prize bondholders, the Government of Pakistan has extended the deadline for the encashment, replacement, and conversion of bearer prize bonds to December 31, 2024. This extension follows the initial expiration date of June 30, 2024, as announced earlier by the State Bank of Pakistan (SBP).
(more…)Tag: SBP
-
SBP Issues Foreign Exchange Rates for October 2, 2024
Today, October 2, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
(more…) -
MTBs Buyback to Boost Private Sector Lending: SBP
The governor of the State Bank of Pakistan (SBP), Jameel Ahmad, has said that the government’s initiative to buy back Market Treasury Bills (MTBs) will enable banks to enhance private sector lending significantly.
(more…) -
Pakistan Targets Rs 10 Trillion to Bridge Budgetary Deficit
Pakistan is poised to secure a substantial Rs10.10 trillion in bank loans through the sale of treasury bills and bonds during the second quarter (October-December) of FY2025, as it grapples with rising funding demands to finance its budget deficit and meet outstanding debt obligations.
(more…) -
SBP Revamps Criteria for Conversion of Conventional to Islamic Banking Branches
Karachi, October 1, 2024 – In a significant development aimed at promoting Islamic banking, the State Bank of Pakistan (SBP) has announced a comprehensive overhaul of the criteria for converting conventional banking branches into Islamic banking branches.
(more…) -
SBP Doubles Bank Guarantee Amount to Rs 1 Million per Depositor
Karachi, October 1, 2024 – In a significant move to fortify depositor protection, the State Bank of Pakistan (SBP) announced on Tuesday that the guarantee amount for depositors has been increased to Rs 1 million per depositor, per bank. This marks a doubling of the previous protected deposit amount, which stood at Rs 500,000.
(more…) -
SBP Issues Foreign Exchange Rates for October 1, 2024
Today, October 1, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
(more…) -
SBP Mandates Stringent Guidelines for Further Sugar Exports
Karachi, October 1, 2024 – The State Bank of Pakistan (SBP) issued a comprehensive directive on Tuesday, instructing banks and authorized dealers (ADs) to adhere to new regulations concerning the export of an additional 100,000 metric tons (MT) of sugar.
(more…) -
SBP Accepts Rs 351 Billion in MTBs Buyback Auction
Karachi, October 1, 2024 – In a significant financial maneuver, the State Bank of Pakistan (SBP) has accepted bids totaling Rs 351 billion in a buyback auction of Market Treasury Bills (MTBs). This strategic move is seen as a vital step towards reprofiling the government’s short-term debt and bolstering liquidity within the financial system.
(more…) -
SBP Issues Foreign Exchange Rates for September 30, 2024
Today, September 30, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
(more…)