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Tag Archives: State Bank of Pakistan (SBP)

5,775 cases reported, 270 suspects held in 5yrs: Drive against money laundering at peak

SBP

ISLAMABAD: Secretary of Finance Dr Waqar Masood Khan has said that the Anti-Money Laundering (Amendment) Bill 2014 will help control tax evasion and generate revenue. He said this while informing the Senate Standing Committee on Finance about the approval of Bill. The committee, which met here with Senator Nasreen Jalil in the chair, reviewed the bill and decided to discuss ... Read More »

SBP clarifies liquidity injection phenomenon

SBP

KARACHI: Liquidity management operations of State Bank of Pakistan (SBP) aim to achieve monetary policy objectives of price stability so as to provide a facilitating environment for economic growth. In particular, the intermediate goal is to contain the overall monetary expansion (M2 growth) within safe limits; consistent with price stability objective, said SBP statement here on Tuesday. This is ensured ... Read More »

650,000 tonnes exports: SBP introduces new system for sugar export, payment to growers

sbp

KARACHI: In order to set up a mechanism for export, the State Bank of Pakistan (SBP), through a circular, has made it compulsory for sugar millers to produce receipt of their payments to the growers as most of the mills are not buying sugarcane at the official rate or not giving payment to the growers in time. As per the ... Read More »

$1.051b IMF tranche: Reserves soar to $15.098b, SBP holds $10.364b

sbp

KARACHI: The country’s foreign exchange reserves have increased to $15.098 billion as the State Bank of Pakistan (SBP) received a tranche of $1.051 billion from  under Extended Fund Facility (EFF). The foreign reserves held by State Bank stood at $10.364.6 billion whereas net foreign reserves held by commercial banks stood at $4.733 billion by the week ending on December 19, ... Read More »

$1.05b IMF tranche: Reserves cross $15b mark, SBP holds $10b, says Dar

Ishaq Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s foreign currency reserves have crossed the $15-billion mark as Pakistan received $1.05 billion from the International Monetary Fund (IMF) under three-year Extended Fund Facility. He said this while giving briefing to Prime Minister Nawaz Sharif. He said that out of the total forex reserves, $10 billion was held by the ... Read More »

$1.05b IMF tranche: Reserves cross $15b mark, SBP holds $10b, says Dar

Ishaq Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s foreign currency reserves have crossed the $15-billion mark as Pakistan received $1.05 billion from the International Monetary Fund (IMF) under three-year Extended Fund Facility. He said this while giving briefing to Prime Minister Nawaz Sharif. He said that out of the total forex reserves, $10 billion was held by the ... Read More »

$1.05b IMF tranche: Reserves cross $15b mark, SBP holds $10b, says Dar

Ishaq Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s foreign currency reserves have crossed the $15-billion mark as Pakistan received $1.05 billion from the International Monetary Fund (IMF) under three-year Extended Fund Facility. He said this while giving briefing to Prime Minister Nawaz Sharif. He said that out of the total forex reserves, $10 billion was held by the ... Read More »

$65m or Rs6.6b: ECC thumbs up to bailout for NBP Bangladesh

NBP

ISLAMABAD: Approving recommendation of the State Bank of Pakistan (SBP), the Economic Coordination Committee (ECC) of the Cabinet grant a bailout package to the tune of $65 million (Rs6.6 billion) to help the National Bank of Pakistan’s (NBP) Bangladesh. The govt approved the bailout package after the Bangladesh branch’s equity eroded due to Rs14 billion losses caused by non-performing loans ... Read More »

Total reserves soar to $14.042b; SBP’s up by $144m to reach $9.347b from $9.203b

Dollar

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) have increased by 1.5 per cent on a weekly basis on December 12. According to data released by the central bank, SBP’s liquid foreign exchange reserves increased by $144 million to $9,347 million compared to $9,203 million in the previous week. During the week, the SBP received ... Read More »

Interest payment on domestic debt crosses Rs1 trillion; yield on PIBs cut by 30pc

sbp

KARACHI: The amount of interest payment by the government on domestic debt has crossed Rs1 trillion during Fiscal Year 14. During the second half of last fiscal year, the government re-profiled its domestic debt towards longer term maturity and borrowed more through the auction of Pakistan Investment Bonds (PIBs) compared to Market Treasury Bills (MTBs). The State Bank of Pakistan ... Read More »

6-month moratorium by SBP: Askari, Sindh banks allowed diligence of KASB Bank

KASB

KARACHI: Following imposition of a six months moratorium over failure to meet its mandatory financial requirement, the State Bank of Pakistan (SBP) has allowed to Askari Bank and Sindh Bank to carry out due diligence of KASB Bank. Both the banks are being considered as mid-tier and emerging banks with moderate profitable operations and therefore the SBP permitted them to ... Read More »

6-month moratorium by SBP: Askari, Sindh Bank show interest in purchasing KASB Bank

KASB Banks

KARACHI: State Bank of Pakistan (SBP) has granted permission to Askari Bank and Sindh Bank to carry out due diligence of KASB Bank, as the banks considering acquiring KASB Bank, which is facing a six-month moratorium. Askari Bank and Sindh Bank have been in talks with the management of KASB Bank showing interest to conduct due diligence which was allowed ... Read More »

FDI soars 19pc to $423b during July-Nov ; down 63pc on MoM basis in FY15

fdi

ISLAMABAD: The Foreign Direct Investment (FDI) soared to $423 million against $355 million in the previous year, showing a growth of 19 percent during the first five months (July-November) of the current fiscal year. The State Bank of Pakistan (SBP) report shows that the FDI had increased to $423 million in July-November fiscal year 15 against $355 million in the ... Read More »

6-month moratorium by SBP: Askari, Sindh Bank show interest to purchase KASB Bank

KASB Banks

KARACHI: State Bank of Pakistan (SBP) has granted permission to Askari Bank and Sindh Bank to carry out due diligence of KASB Bank, as the banks considering acquiring KASB Bank, which is facing a six-month moratorium. Askari Bank and Sindh Bank have been in talks with the management of KASB Bank showing interest to conduct due diligence which was allowed ... Read More »

Agri loans soar to Rs290.35b from Rs257b: Govt sets Rs500b target for FY14-15

agri loan

KARACHI: The agriculture loans have soared up from Rs257.09 billion to Rs290.35 billion at the end of fiscal year 2013 in June, the National Assembly’s Standing Committee on Finance was informed in a meeting. Sources said that the government had set the target of Rs500 billion for 2014-15 which is 54 percent of the agri credit needs for the FY ... Read More »

Money supply averaged Rs 2,056,383.48m in last 6 years

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ISLAMABAD: Money supply in the country has been averaged Rs 2,056,383.48 million in last six years (2008-2014), reaching all-time high of Rs 2,985,235.07 million in July this year and a record low of Rs 1,413,617.11 million in July 2008. The source further shared data that money supply decreased to Rs 2,772,985 million in October from Rs 2,773,002.68 million in September ... Read More »

Inflation up 8.6%, remittances 13.8%, fiscal deficit remains at 5.5pc in FY13-14: SBP

sbp

KARACHI: The State Bank of Pakistan (SBP), in its annual report, has said that the fiscal year 2013-14 remained better for the country’s macro-economy. As per the report, the country witnessed most remarkable improvements in foreign exchange reserves, the unprecedented appreciation of the rupee in early-March, the reduction in the fiscal deficit, the lower than expected inflation rate, the improvement ... Read More »

Inflation up by 8.6%, remittances 13.8%, fiscal deficit remain at 5.5pc in FY13-14: SBP

SBP

KARACHI: The State Bank of Pakistan (SBP), in its annual report, has said that the fiscal year 2013-14 remained better for the country’s macro-economy. As per the report, the country witnessed most remarkable improvements in foreign exchange reserves, the unprecedented appreciation of the rupee in early-March, the reduction in the fiscal deficit, the lower than expected inflation rate, the improvement ... Read More »

Inflation up by 8.6%, remittances 13.8%, fiscal deficit remain at 5.5pc in FY13-14: SBP

sbp

KARACHI: The State Bank of Pakistan (SBP), in its annual report, has said that the fiscal year 2013-14 remained better for the country’s macro-economy. As per the report, the country witnessed most remarkable improvements in foreign exchange reserves, the unprecedented appreciation of the rupee in early-March, the reduction in the fiscal deficit, the lower than expected inflation rate, the improvement ... Read More »

Inflation up by 8.6%, remittances 13.8%, fiscal deficit remain at 5.5pc in FY13-14: SBP

SBP

KARACHI: The State Bank of Pakistan (SBP), in its annual report, has said that the fiscal year 2013-14 remained better for the country’s macro-economy. As per the report, the country witnessed most remarkable improvements in foreign exchange reserves, the unprecedented appreciation of the rupee in early-March, the reduction in the fiscal deficit, the lower than expected inflation rate, the improvement ... Read More »