SBP to announce its new bi-monthly monetary policy today

SBP to announce its new bi-monthly monetary policy today

KARACHI: The State Bank of Pakistan will announce its bi-monthly monetary policy on Friday (today), media sources reported. The central bank will release a statement to announce its policy review for the next two months. The focus for the general public in a new monetary policy of the state bank...

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SBP reiterates currency note features to help visually impaired persons

SBP reiterates currency note features to help visually impaired persons

It has come into the notice of SBP that visually impaired persons find it difficult to recognize and distinguish amongst different Pakistani currency notes. SBP, for the information of the general public and specifically visually impaired persons, reiterates that Pakistani currency notes have specific features to help the visually impaired...

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SBP Announces Concessionary Financing Facility for Special persons

SBP Announces Concessionary Financing Facility for Special persons

State Bank of Pakistan issued a concessionary Small Enterprise Financing and Credit Guarantee Facility for Special persons. Mr. Tariq Bajwa, the Governor State Bank of Pakistan announced this special facility in the 7th meeting of the National Assembly Standing Committee on Finance, Revenue and Economic Affairs held at State Bank...

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Overseas Pakistanis remit US $14.3 billion in the first eight months of FY19

Overseas Pakistanis remit US $14.3 billion in the first eight months of FY19

Overseas Pakistani workers remitted US $14350.53 million in the first eight months (July to February) of FY19, showing a growth of 11.82 % compared with US $12833.64 million received during the same period in the preceding year. During February 2019, the inflow of worker’s remittances amounted to US $1576.51 million,...

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SBP, ADFD agreement: Second tranche of $2bn soon to be received by Pakistan

SBP, ADFD agreement: Second tranche of $2bn soon to be received by Pakistan

KARACHI: The State Bank of Pakistan (SBP) on Saturday signed an agreement with Abu Dhabi Fund for Development (ADFD) for the placement of the second tranche of $2 billion. Pakistan is set to receive $4.1 billion in financial assistance from friendly countries next week, according to Finance Minister Asad Umar. The minister’s...

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SME finance by banking industry achieves historic high of over half-a-trillion rupees

SME finance by banking industry achieves historic high of over half-a-trillion rupees

SME financing by banks in Pakistan has first time crossed the milestone of Rs 500 billion. SME financing was recorded at Rs 513 billion at the end of CY 2018 compared to Rs 450 billion in the corresponding period last year, exhibiting growth of 14 percent. The growth in SME...

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Deposit Protection Corporation becomes a member of International Association of Deposit Insurers

Deposit Protection Corporation becomes a member of International Association of Deposit Insurers

The Secretariat of International Association of Deposit Insurers (IADI) announced on February 11, 2019 that its Executive Council has decided to admit Deposit Protection Corporation (DPC), State Bank of Pakistan as IADI Member. DPC is 84th member of the global body of deposit insurers whose objective is to contribute to...

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Overseas Pakistanis remit US $12.77 billion in the first seven months of FY19

Overseas Pakistanis remit US $12.77 billion in the first seven months of FY19

Overseas Pakistani workers remitted US$ 12774.02 million in the first seven months of FY19 as compared with US$11383.47 million received during the same period in the preceding year. During January 2019, the inflow of workers’ remittances amounted to US$ 1743.25 million, which is 0.3% lower than December 2018 and 6.4%...

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Governor SBP: Harnessing technology platforms is the way forward for enhancing agricultural productivity

Governor SBP: Harnessing technology platforms is the way forward for enhancing agricultural productivity

“I would urge the stakeholders including banks, federal and provincial governments to harness technology platforms for enhancing agricultural productivity”, said Tariq Bajwa, Governor State Bank of Pakistan while presiding the mid-term review meeting of Agricultural Credit Advisory Committee (ACAC) held in Hyderabad on 7th February, 2019. “Holding ACAC meetings at...

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SBP releases First Quarterly Report on the State of Economy

SBP releases First Quarterly Report on the State of Economy

The State Bank of Pakistan today released its First Quarterly Report on the State of Pakistan’s Economy for FY19.  According to the report, the overall macroeconomic environment remained challenging during the first quarter of FY19 as suggested by the preliminary data. The primary concern was the steep rise in global...

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