SBP notifies amendments to consumer financing regulations

KARACHI: State Bank of Pakistan (SBP) on Friday notified amendment in the Regulation R-4 of Prudential Regulations for Consumer Financing. Following are the amendments notified by the central bank: REGULATION R-4: GENERAL... Read more »

SBP issues revised features of PM’s youth business loan

KARACHI: State Bank of Pakistan (SBP) on Friday issued revised features of Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme. The SBP said that the government had approved revision in key features of... Read more »

Pakistan’s foreign exchange reserves increase by $819 million

KARACHI: The liquid foreign exchange of the country increased by $819 million to $18.79 billion by week ended July 03, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange... Read more »

SBP revises banking timings from July 13

KARACHI: State Bank of Pakistan (SBP) on Thursday revised timings for banks and microfinance banks to be observed from July 13, 2020. The central bank said that effective from July 13, 2020,... Read more »

SBP asks banks not to accept institutional investment in saving schemes

KARACHI: State Bank of Pakistan (SBP) on Thursday informed banks about restriction imposed on institutional investment in saving schemes. The central bank said that the Central Directorate of National Savings (CDNS) on... Read more »

SBP slashes refinance rate to five percent for temporary, long term schemes

KARACHI: State Bank of Pakistan (SBP) has decided to reduce the mark up rates on temporary economic refinance facility (TERF) to five percent from 7 percent and on long term financing facility... Read more »

Bank deposits reach record high at Rs16.23 trillion

KARACHI: The deposits of banking systems have reached record high at Rs16.23 trillion by end of June 30, 2020, according to data released by State Bank of Pakistan (SBP) on Tuesday. The... Read more »

SBP extends deferment of principal amount facility till September 30

KARACHI: State Bank of Pakistan (SBP) has decided to extend the deferment of principal amount facility up till September 30, 2020, a statement said on Tuesday. The central bank said that considering... Read more »

Government borrowing from commercial banks rises to Rs2,413 billion in 2019/2020

KARACHI: The federal government has borrowed Rs2,413 billion from commercial banks during fiscal year 2019/2020 as against retirement of Rs771.6 billion in the preceding fiscal year, according to statistics released by State... Read more »

SBP expands refinance facility for health sector to combat COVID-19

KARACHI: The State Bank of Pakistan (SBP) on Monday expand the refinance facility at lower rates for health sector in order to combat COVID-19. On March 17, 2020, SBP introduced a refinance... Read more »