Tag Archives: SBP

Retail sector’s deposits fall by around 15pc since imposition of withholding tax on non-cash transactions

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KARACHI: Bank deposits of retail sector has declined by around 15 percent since imposition of withholding tax on non-cash banking transactions.

Bank holiday

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KARACHI: State Bank of Pakistan (SBP) on Tuesday said that it will remain closed on March 23, 2017 (Thursday) being public holiday on the occasion ‘Pakistan Day’, as declared by the government.

SBP directs banks to prepare three-year plan for strengthening presence in Baluchistan

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KARACHI: State Bank of Pakistan (SBP) has directed commercial banks to prepare three years business plan to strengthen their presence in Baluchistan.

FDI posts 6pc growth during July – February FY17

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KARACHI: The foreign direct investment (FDI) has increased by 6 percent to $1.284 billion during July – February 2016/2017 as compared with $1.211 billion in the corresponding period of the last fiscal year, according to data released by State Bank of Pakistan (SBP) on Thursday.

SBP advises banks to set up foreign trade valuation system to stop money laundering

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KARACHI: State Bank of Pakistan (SBP) has advised banks to set up in-house price valuation of foreign goods in order to minimize money laundering through banking channels.

First ever registered prize bond launched as initiative to documentation of economy

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ISLAMABAD: The government on Friday launched first ever registered prize bond with denomination of Rs40,000, which is attributed as a major initiative towards documentation of economy.

SBP directs banks not to certify incomplete Form E

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KARACHI: State Bank of Pakistan (SBP) has directed commercial banks to refuse export form (Form E) certification where exporters fail to provide full description of goods to be exported.

Bank deposits fall by 4.2pc to Rs10.73 trillion

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KARACHI: The deposits of the banking system have decline by 4.2 percent to Rs10.73 trillion by end of February 2017 as compared with Rs11.2 trillion when compared with December 31, 2016.

High tax revenue to reduce government borrowing needs: SBP

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KARACHI: State Bank of Pakistan (SBP) on Saturday said that higher tax revenue would reduce the needs for government borrowing.