KARACHI: The State Bank of Pakistan (SBP) has published the foreign exchange rates for customers on July 04, 2022.
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SBP issues KIBOR rates – June 30, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on June 30, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 13.30 13.80 2 – Week 13.53 14.03 1 – Month 13.66 14.16 3 – Month 14.91 15.16 6 – Month 15.10 15.35 9 – Month 15.15 15.65 1 – Year 15.23 15.73 -
SBP’s customer forex rates – June 30, 2022
KARACHI: The State Bank of Pakistan (SBP) has published the foreign exchange rates for customers on June 30, 2022.
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Pakistan’s central bank launches digital financial literacy for farmers
KARACHI: The State Bank of Pakistan (SBP) on Wednesday said it launched a series of videos about agriculture financing products for farmers.
The central bank in a statement said it had launched a series of videos in national and regional languages about agriculture financing products and procedures to create awareness among the farming communities across the country, especially in the underserved areas.
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These videos will be disseminated through social media and digital platforms of SBP and all agriculture lending banks.
Lack of awareness among farmers about agriculture financing products and services remains one of the challenges for banks to access rural markets and extend outreach of formal financial services to the farming communities.
Capacity building & awareness creation is, therefore, an important area of focus amongst SBP’s various initiatives for promotion and development of agriculture financing in the country.
READ MORE: Pakistan banks to remain closed on July 01, 2022
SBP has been organizing various awareness and capacity building programs for farmers; however, farming communities still lack awareness at the grassroots level to avail and optimally utilize formal financial services.
In order to address this lack of awareness and to broaden the scope of SBP’s campaigns, the potential of digital media is being explored.
Rapid penetration of internet and increased usage of smartphones across the country has presented an opportunity to harness digital platforms for disseminating information instead of relying on conventional awareness sessions, which have limited outreach.
The use of digital medium is not only helpful in spreading the message to a wider audience in a timely and cost effective way, but also enables such messages to have higher rate of comprehension and retention.
The first video in this series covers the overall agriculture financing landscape of the country, SBP’s initiatives and GoP’s schemes, all from a farmer’s perspective.
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Keeping in view the need for enhancing accessibility of credit in the diverse underserved areas, this video has also been translated into three regional languages apart from Urdu, i.e. Sindhi, Balochi and Pashto.
The next two videos in the series focus on crop and non-crop sector, including information regarding agriculture loan products, and diving deeper into the procedures and documentation required for both segments.
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It is expected that these videos will help the farming community to overcome their reluctance in availing credit from banks.
Moreover, to augment SBP’s initiative and achieve greater reach, agriculture lending banks will also share these videos on their respective social and digital media channels which will encourage banks to develop similar informative videos on product and financing opportunities to agro-based businesses as well.
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SBP issues KIBOR rates – June 29, 2022
The State Bank of Pakistan (SBP) has recently made a significant announcement regarding the Karachi Interbank Offered Rates (KIBOR) for various tenors, marking a pivotal moment for financial institutions across Pakistan.
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Pakistan banks to remain closed on July 01, 2022
KARACHI: Pakistan banks will observe holiday on July 01, 2022 for financial close, a statement said on Wednesday.
The State Bank of Pakistan (SBP) issued a circular in this regard addressing the president and chief executives of all banks, development financial institutions and microfinance banks.
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The central bank said it will remain closed for public dealing on Friday, July 1, 2022 which shall be observed as Bank Holiday enabling the Bank to close its accounts.
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All banks / Development Financial Institutions (FDIs) / Microfinance Banks (MFBs) shall, therefore, remain closed for public dealing on the aforementioned date.
However, employees of the banks / DFIs / MFBs will attend the office as usual.
READ MORE: SBP seeks Supreme Court guidance on Riba case judgement
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SBP’s customer forex rates – June 29, 2022
KARACHI: The State Bank of Pakistan (SBP) has disclosed the foreign exchange rates for customers on June 29, 2022.
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Pakistan’s CAD balloons to $15.19 billion in 11 months
KARACHI: The current account deficit (CAD) of Pakistan has massively widened to $15.19 billion during 11 months (July – May) of 2021/2022, State Bank of Pakistan (SBP) said Tuesday.
The data of balance of payment (BoP) showed the current account deficit was $1.18 billion in the corresponding months of the last fiscal year.
READ MORE: Current account deficit swells to $13.78 bn in 10 months
The massive widening in current account deficit may be attributed to the high trade deficit on back of significant increase in import bill.
The trade deficit of the country increased by 58.18 per cent to $43.42 billion during July – May 2021/2022 as compared with $27.45 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS).
READ MORE: Pakistan’s CAD hit $13.17 billion in July – March
The import bill of the country surged by 44.51 per cent to $72.29 billion during first 11 months of the current fiscal year as compared with $50 billion in the same months of the last fiscal year.
However, export earnings of also grew by 28 per cent to $28.87 billion during the period under review as compared with $22.57 billion in the same period of the last fiscal year.
READ MORE: Pakistan’s CAD mounts to $12 billion in eight months
Meanwhile, inflows of workers remittances posted a six per cent growth to $28.41 billion during 11 months of the current fiscal year as compared with $26.73 billion in the corresponding months of the last fiscal year.
The current account deficit for the month of May 2022 also widened to $1.425 billion as compared with the deficit of $618 million in April 2022 and the deficit of $640 million in May 2021.
READ MORE: Current account deficit widens to $11.58 bn in 7MFY22
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SBP issues KIBOR rates – June 28, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as on June 28, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 13.11 13.61 2 – Week 13.31 13.81 1 – Month 13.54 14.04 3 – Month 14.52 14.77 6 – Month 15.06 15.31 9 – Month 15.13 15.63 1 – Year 15.19 15.69 -
SBP’s customer forex rates – June 28, 2022
KARACHI: The State Bank of Pakistan (SBP) has published the foreign exchange rates for customers on June 28, 2022.
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