Category Archives: Finance

List of 404 items requiring 100pc cash margin on import

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KARACHI: Following is the detailed list of items on which State Bank of Pakistan (SBP) has imposed restriction of mandatory 100 percent cash margin at the time of Letter of Credit.

SBP allows remittances up to 30pc of Hajj package

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KARACHI: State Bank of Pakistan (SBP) has allowed the banks to make remittances in foreign currency up to 30 percent of the Hajj package on behalf of Hajj Group Organizers (HGOs).

Banks asked to provide information of foreign investors with respect to securities export

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KARACHI: State Bank of Pakistan (SBP) has directed the banks (authorized dealers in foreign exchange) to provide information with regard to non-resident investors.

SBP imposes 100pc cash margin on import of motor vehicle, mobile phones, consumer items

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KARACHI: State Bank of Pakistan (SBP) on Friday imposed 100 percent cash margin requirement for import of motor vehicle, mobile phones, cosmetics and other consumer items.

SECP detects brokerage houses involvement in illegal activities for raising deposits

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ISLAMABAD: The chairman of Securities and Exchange Commission of Pakistan (SEC), Zafar Hijazi, has expressed the SECP’s firm resolve that strict action would be taken against brokerage houses found involved in malpractices and misuse of client assets.

SECP files criminal case against senior banker for insider trading

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Thursday filed a criminal case against an employee of a leading bank, who was working as AVP investment, for being involved in insider trading.

Senate committee takes suo moto notice against SECP

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ISLAMABAD: Senate Standing Committee on Finance and Revenue has taken suo moto notice against the actions of Securities and Exchange Commission of Pakistan (SECP) for having dubious role in capital market.

Business community’s budget proposals to be considered: Dar

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ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Thursday said that the government had already initiated the process for preparation of budget and in this regard it would take into consideration views and suggestions of all stakeholders, the business and traders community, economic experts as well as the general populace.

SRB to hold meetings with stakeholders from next week

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KARACHI: Khalid Mahmood, Chairman, Sindh Revenue Board (SRB) on Wednesday said that issues between the revenue body and stakeholders will be resolved soon as the SRB is going to hold meetings separately with representatives of each sector from next week onwards.

SECP, SBP join hands to eliminate financial crimes

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP) on Wednesday vowed to jointly take action for eradicating financial crimes in the country.