KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on October 18, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.22 | 7.72 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.30 | 7.80 |
| 3 – Month | 7.76 | 8.01 |
| 6 – Month | 8.16 | 8.41 |
| 9 – Month | 8.46 | 8.96 |
| 1 – Year | 8.74 | 9.24 |
Karachi, October 18, 2021 – The State Bank of Pakistan (SBP) has released the latest exchange rates for various foreign currencies against the Pakistani Rupee (PKR) on Monday, October 18, 2021.
(more…)KARACHI: State Bank of Pakistan (SBP) on Friday issued the following Karachi Interbank Offered Rates (KIBOR) on October 15, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.21 | 7.71 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.29 | 7.79 |
| 3 – Month | 7.71 | 7.96 |
| 6 – Month | 8.10 | 8.35 |
| 9 – Month | 8.38 | 8.88 |
| 1 – Year | 8.60 | 9.10 |
KARACHI: The State Bank of Pakistan (SBP) has made it mandatory for its regulated entities (REs) including banks, microfinance banks, payment system operators and payment system providers to provide digital means of payments to their corporate clients to enable businesses for sending and receiving their payments.
Ina statement issued on Friday, the central bank said the SBP has now made it mandatory for its regulated entities (REs) including banks, microfinance banks, payment system operators and payment system providers to provide digital means of payments to their corporate clients to enable businesses for sending and receiving their payments.
SBP, in its recent Circular, has asked its regulated entities to facilitate their institutional clients including corporations, companies, and partnerships for making large value payments through digital channels.
Regulated entities are now required to extend online portals/platforms for digital payments & receipts of corporates including online interbank fund transfer services, online bill/invoice sharing and payment services like over the Counter (OTC) digital payments services/facilities, card payments using Point of Sale (POS) terminals, QR codes, mobile devices, ATMs, Kiosk or any other digital payments enabled device.
In order to monitor the progress of implementation of these instructions, SBP has advised banks to submit roadmap of implementing these measures within 30 days.
Banks are also required to submit quarterly progress reports to SBP on the number of businesses facilitated for digitization of their payments and receipts.
SBP expects that these measures would increase documentation of value chains and help businesses manage their large value transactions more effectively.
The initiative will also facilitate implementation of Federal Board of Revenue’s recently introduced measures on integration of businesses with FBR system and conducting of corporate payments through digital means.
Regulated entities are also required to make all efforts to onboard non-corporate players including Sole Proprietors, SMEs and MSMEs for the provision of digital payments.
KARACHI: State Bank of Pakistan (SBP) on Friday announced that banks shall remain closed on October 19, 2021 on the occasion of Eid Milad-un-Nabi (Sallallahu Alayhi Wa-Sallam).
In a statement, the central bank said that it will remain closed on Tuesday, October 19, 2021 (i.e. 12th Rabi-ul-Awal, 1443 A.H.)
on the occasion of Eid Milad-un-Nabi (Sallallahu Alayhi Wa-Sallam).
Similar instructions have been also communicated to chief executives and presidents of commercial banks, Development Financial Institutions (DFIs) and Microfinance Banks (MFBs).
Karachi, October 15, 2021: The State Bank of Pakistan (SBP) has issued the official exchange rates for Friday, October 15, 2021.
(more…)KARACHI: State Bank of Pakistan (SBP) on Thursday said that in order to mark the occasion of 70th anniversary of Pakistan-Germany Diplomatic relations, the Government of Pakistan has decided to issue a commemorative coin of even denomination, i.e. Rs.70.
(more…)KARACHI: State Bank of Pakistan (SBP) on Thursday issued the following Karachi Interbank Offered Rates (KIBOR) on October 14, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.20 | 7.70 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.29 | 7.79 |
| 3 – Month | 7.71 | 7.96 |
| 6 – Month | 8.08 | 8.33 |
| 9 – Month | 8.37 | 8.87 |
| 1 – Year | 8.60 | 9.10 |
For facilitating return filing, the Federal Board of Revenue (FBR) has directed the offices of Inland Revenue (IR) to work late hours. The offices will remain open until 12:00 midnight on October 15, 2021, to accommodate individuals and businesses in their efforts to fulfill their tax obligations.
(more…)Karachi, October 14, 2021: The State Bank of Pakistan (SBP) has released the official exchange rates for Thursday, October 14, 2021.
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