Tag: Sbp
Senate passes one bill, takes up two CANs
The Senate passed the State Bank of Pakistan (Amendment) Bill, 2015 and took up two calling attention notice (CANs) during the last sitting of...
$4.7b remitted to India from Pakistan in 2014 alone: report
Pakistan has remitted a whopping $4.7 billion to India in one year alone – 2014 – while $2 billion were remitted back to Pakistan...
SBP directs banks to install advanced machines to detect fake money
State Bank of Pakistan has imported advanced machines capable of examining and sorting fake and different amount of currency notes and directed all the...
SBP cuts policy rate by 50bps to 6pc as inflation eases
CPI inflation comes down to 3.6 per cent in August 2015 from 8.4 per cent in August 2014
The central board of directors of State...
Karachi banks charge 0.6pc WHT despite SBP’s cut
Contrary to State Bank of Pakistan (SBP)’s instructions, most of the banks in Karachi are still deducting 0.6 percent Withholding Tax (WHT) on banking transactions above Rs 50,000 cheque or cash, Pakistan Today has learnt.
SBP exhorts exchange companies to control dollar
The State Bank of Pakistan (SBP) on Friday directed all the exchange companies to control the dollar in open market and further allowed them...
Total foreign investment declines to $54.4m in July
Total foreign investment further decreased to $54.4 million in the first month of current fiscal year compared to $85.5 million received in the same period last year.
Profitable cross-border linkages mean stronger SAARC
Addressing the 22nd SAARCFINANCE Coordinators’ Meeting at National Institute of Banking and Finance (NIBAF), Islamabad on Monday, SAARCFINANCE Chairman and State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra has urged the SAARCFINANCE coordinators to further fortify regional cooperation, especially in the areas of banking and finance, which in turn can facilitate cross-border trade between the member states.
SBP launches five-year Strategic Plan-Vision 2020
Governor Wathra says 50 per cent of Pakistan’s adult population has no access to financial services such as formal savings, payments, deposits, credit or...
Central bank allows free dollar import for two months
The State Bank has allowed exchange companies to bring in US dollars directly in baggage or in their accounts against the sale of foreign...
SBP maintains monetary policy, discount rate at 6.5 per cent
Pakistan's exports reduced by 3.7 per cent in FY14-15 due to ‘structural bottlenecks, sluggish global demand, and lower commodity prices’
More revenues mean better economy: Dr Hussain
Pakistan’s economy could not face the budget deficit of Rs 500 billion but it has to create venues to meet its expenses through generation of taxes and privatisation of the public sector entities, said former State Bank of Pakistan (SBP) governor Dr Ishrat Hussain.
SBP cuts interest rate to 7%, lowest in 42 years
The central bank cut the key interest rate in the economy by a cumulative 2% since last November partly because of a sharp decline in inflation
Total foreign investment declines by 16pc
Total foreign investment decreased to $2.603 billion in July-April of the current fiscal year compared to $3.110 billion in the same period last year.
KASB Bank merger – a tale of misplaced priorities
The merger of KASB Bank Limited with Bank Islami has created serious doubts over the performance of the finance managers in the government.
SBP lifts moratorium on KASB Bank Ltd
The State Bank of Pakistan (SBP) Thursday approved the amalgamation of KASB Bank Limited and Bank Islami Pakistan Limited.
The central bank in a statement...
KASB Bank merger exposes SBP’s autonomy
At a time when the government is under intense pressure of the International Monetary Fund (IMF) to increase the autonomy of the central bank, the proposed merger of the KASB Bank has exposed the role of the Finance Ministry in controlling the State Bank of Pakistan (SBP), also cautioning the Chinese of possible investment shocks.
