Tag Archives: SBP

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.

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.

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.

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.

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.