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).

SBP issues instructions under credit guarantee scheme for SMEs

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KARACHI: State Bank of Pakistan (SBP) has issued instructions for Credit Guarantee Scheme (CGS) for Small and Rural Enterprises and advised financial institutions to utilize 30 percent of the allocated guarantee limit for 2017 for lending to two to three specific sectors.

Draft rules issued to create fund for investors awareness, education

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued draft Investors Education and Awareness Fund Rules, 2017 to be established under provisions of Companies Act, 2017.

SBP be ready for monetary policy tightening in case of forex pressure

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ISLAMABAD: International Monetary Fund (IMF) has urged the State Bank of Pakistan (SBP) to remain vigilant and be ready to tighten the monetary policy it in case inflationary pressures emerge or foreign exchange market pressures intensify.

Duty free gifts, donations by charitable institutions to be disallowed on misuse

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ISLAMABAD: Federal Board of Revenue (FBR) said that concession of duty free gifts and donations received by charitable non-profit making hospital or institutions will be disallowed in case of misuse detection.

Duty free imports allowed to Edhi Foundation

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ISLAMABAD: The federal government has allowed duty free imports by Edhi Foundation subject to the condition that the imported goods mean for use by the foundation.

Past concessionary SROs to be presented for parliamentary approval

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ISLAMABAD: The government has decided to take parliamentary approval for concessionary SROs issued in the past instead of extending through Finance Bill 2017.

FBR rejects de-registration of three customs agents

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KARACHI: Federal Board of Revenue (FBR) has rejected the application for de-registration of three customs agents and said that the scrutiny revealed that such agents are found in providing services within the federal jurisdiction.

Customs Appraisement South surpasses collection of Rs1 trillion landmark

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KARACHI: Customs Appraisement Southern Region has surpassed the revenue collection figure of one trillion rupees 15 days ahead of closing of fiscal year 2016/2017.

Booking for fresh currency notes may reach limits by June 20: SBP

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KARACHI: State Bank of Pakistan (SBP) on Friday said that booking service for fresh currency notes may be reached its maximum limit by June 20 and as such no booking code will be issued thereafter.