Tag Archives: SBP

SBP declares virtual currency dealing as suspicious transaction

KARACHI: State Bank of Pakistan (SBP) on Wednesday declared dealing in virtual currency or Initial Coin Offering (ICO) tokens as suspicious transaction and directed exchange companies to report such dealings to Financial Monitoring Unit (FMU).

FDI grows to $2.09bn in 9 months

KARACHI: The net inflow of foreign direct investment (FDI) into Pakistan has registered growth of 4.4 percent to $2.09 billion during July – March 2017/2018 as compared with $2 billion in the corresponding period of the last fiscal year.

SBP issues procedure for payment, deposit of tax in US Dollar under amnesty for undeclared foreign assets

KARACHI: State Bank of Pakistan (SBP) on Monday issued procedure for payment and deposit of tax in US dollars and repatriation of liquid assets in Pakistan under tax amnesty scheme for offshore undisclosed assets.

SBP issues instructions on linking ATL to cash deposits into FC accounts

KARACHI: State Bank of Pakistan (SBP) has issued instructions to banks that persons on the active taxpayers list (ATL) will only able to receive foreign currency cash in their foreign currency accounts.

SBP allows Bank of China to set up CNY settlement, clearing setup in Pakistan

KARACHI: State Bank of Pakistan (SBP) has allowed Bank of China (BOC) Pakistan to establish a local Chinese Yuan (CNY) settlement and clearing setup in Pakistan.

Overseas Pakistanis remit $14.6bn in nine months

KARACHI: Overseas Pakistanis have remitted $14.6 billion during first nine months (July – March) of current fiscal year as compared with $14.1 billion in the corresponding period of the last fiscal year, showing growth of 3.56 percent.

Revenue growth outpaces expenditure increase during first half 2017/2018: SBP

KARACHI: State Bank of Pakistan (SBP) has said that growth in revenue collection has outpaced the increase in expenditures during first half (July – December) 2017/2018, which led to a broad-based improvement in fiscal indicators.

SBP warns against transactions in virtual currencies

KARACHI: State Bank of Pakistan (SBP) has warned general public against using virtual currencies for their transactions as those were not guaranteed by the government.

SBP maintains key policy rate at 6pc on high prospects of achieving 11-year higher growth rate

KARACHI: State Bank of Pakistan (SBP) has maintained key policy rate unchanged at 6 percent on high prospects of achieving 11-year higher grate during the current fiscal year.