Today, November 8, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Stresses Urgent Need for Climate Resilience Financing
In a call to action for the financial sector to embrace sustainability, the Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, underscored the critical need to bolster credit allocation for climate-resilient projects and promote environmentally sustainable growth. Speaking at the event “Enabling Green Financing and Green Bonds via Credit Enhancement Solutions,” hosted by InfraZamin Pakistan, the Governor emphasized the growing importance of aligning Pakistan’s financial sector with global shifts toward sustainability.
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Remittances into Pakistan Surge 35% during 4MFY25
Karachi, November 8, 2024 – Workers’ remittances into Pakistan have shown a notable 35% growth year-on-year (YoY) in the first four months (July-October) of fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Friday.
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Pakistan’s Weekly Forex Reserves Decline by $117 Million
Karachi, November 7, 2024 – Pakistan’s foreign exchange (forex) reserves have witnessed a decline of $117 million by the week ended November 1, 2024, according to a report from the State Bank of Pakistan (SBP) on Thursday.
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SBP Issues Foreign Exchange Rates for November 7, 2024
Today, November 7, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Issues Foreign Exchange Rates for November 6, 2024
Today, November 6, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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Bank Holiday Declared for Allama Iqbal Day on November 9, 2024
Karachi, November 6, 2024 – In observance of Allama Iqbal Day, the State Bank of Pakistan (SBP) has announced a bank holiday for all commercial banks, development financial institutions, and microfinance banks (MFBs) across the country on November 9, 2024.
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SBP Approves Pilot Operations for Electronic Money Institutions
Karachi, November 5, 2024 – The State Bank of Pakistan (SBP) has granted in-principle approval to two companies—Toko Lab Private Limited and Accept Technologies Private Limited (PayMob)—to establish operations as an Electronic Money Institution (EMI) and a Payment System Operator (PSO)/Payment Service Provider (PSP), respectively. This pivotal decision marks a progressive step towards fostering innovation in the financial technology sector.
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SBP Issues Foreign Exchange Rates for November 5, 2024
Today, November 5, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Projects Rs 1.3 Trillion Interest Expense Savings on Rate Cuts
Karachi, November 4, 2024 – The State Bank of Pakistan (SBP) projects significant fiscal savings following its recent policy rate cuts, estimating that total interest expenses for the fiscal year 2024-25 will decrease to Rs 8.5 trillion from the initially budgeted Rs 9.8 trillion.
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