List of customer information to be verified by banks under latest AML regulations

KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued the Anti-Money Laundering, Combating the Financing of Terrorism & Counter Proliferation Financing (AML/ CFT/ CPF) Regulations for banks and other financial institutions,... Read more »

SBP doubles loan size for setting up hospital to combat COVID

KARACHI: State Bank of Pakistan (SBP) has enhanced loan size to Rs 1 billion from Rs500 million for setting up new hospital to combat COVID-19. The central bank in a notification said... Read more »

SBP issues framework for cloud outsourcing arrangements

KARACHI: State Bank of Pakistan (SBP) has issued framework for financial institutions outsourcing to cloud service providers (CSPs). The SBP said that to BPRD Circular No. 05 of 2017 on ‘Enterprise Technology... Read more »

Foreign exchange reserves ease to $19.904 billion

KARACHI: The liquid foreign exchange reserves of the country fell by $55 million to $19.904 billion by week ended September 18, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign... Read more »

SBP relaxes 100pc cash margin condition on import of certain raw materials

KARACHI: The State Bank of Pakistan (SBP) on Thursday relaxed the condition of 100 percent cash margin requirement on import of certain raw materials. A statement issued by the SBP stated that... Read more »

SBP sells Rs478 billion worth treasury bills through auction

KARACHI: The government has borrowed an amount of Rs474.8 billion through sale of market treasure bills on Wednesday. The State Bank of Pakistan (SBP) said that bids were invited for the auction... Read more »

SBP keeps policy rate unchanged at 7pc

KARACHI: State Bank of Pakistan (SBP) on Monday decided to keep the key policy rate unchanged at 7 percent for next two months. The decision was taken after the committee of monetary... Read more »

Foreign direct investment surges by 40 percent in two months

KARACHI: The net inflow of foreign direct investment (FDI) has surged by 40 percent during the first two months of the current fiscal year, according to data released by State Bank of... Read more »

Banks directed to apply AML/CFT rules on issuance of saving certificates

KARACHI: State Bank of Pakistan (SBP) on Thursday directed banks to implement anti-money laundering (AML) and Counter Financing for Terrorism (CFT) rules related to issuance of National Saving Schemes (NSS). The SBP... Read more »