Category Archives: Finance

SECP notifies regulations for future exchanges

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Friday notified the Futures Exchanges (Licensing & Operations) Regulations, 2017. Those have been issued under the Futures Market Act, 2016.

SBP issues fresh currency notes worth Rs342bn for Eid-ul-Fitr; 44pc higher than last year

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KARACHI: State Bank of Pakistan (SBP) has issued fresh currency notes worth Rs342 billion for Eid-ul-Fitr during current Ramazan, which is 44 percent higher than Rs237 billion issued in last Ramazan.

SECP issues forms for reporting beneficial ownership

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SEC) on Thursday issued the forms for reporting beneficial ownership information as required under section 452 of the Companies Act, 2017.

Sugar export deadline extended by 22 days only for Afghanistan

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KARACHI: The government has extended the deadline for sugar export to Afghanistan through land route as the border was closed from May 05 to 27.

Banks to remain close on July 03

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KARACHI: State Bank of Pakistan (SBP) on Thursday said that all banks and development financial institutions will remain closed for public dealings on July 3, 2017.

Banks to remain open for extended hours on June 30 for revenue collection

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KARACHI: State Bank of Pakistan (SBP) on Wednesday announced that commercial banks will remain open for extended hours on June 30, 2017 to facilitate the collection of duty and taxes.

SBP allows banks to outsource storage of account opening forms

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KARACHI: State Bank of Pakistan (SBP) has allowed banks to outsource storage / archival of account opening forms (AOF) under amended framework for risk management in outsourcing arrangements by financial institutions issued on Tuesday.

NCCPL to collect monthly capital gain tax on June 29

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KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Monday announced that amount of Capital Gain Tax (CGT) for the month of May 2017 will be collected on June 29, 2017.

SBP directs microfinance banks to install bio-metric machines for instant verification

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KARACHI: State Bank of Pakistan (SBP) has directed Microfinance Banks (MFBs) to install bio-metric machines for instant verification of prospective customers under measures to be taken regarding Anti-Money Laundering (AML) and Combating the Finance of Terrorism (CFT).