Tag Archives: State Bank of Pakistan

SBP increases policy rate to 6.5pc for next two months

KARACHI: State Bank of Pakistan (SBP) on Friday announced to increase policy rate by 50 basis points to 6.5 percent for the next two months effective from Monday May 28, 2018.

Pakistan, China extend currency swap agreement for three years

KARACHI: Pakistan and China have agreed to extend currency swap agreement for a period of three years in respective local currencies, said State Bank of Pakistan (SBP) on Thursday.

SBP to announce monetary policy on May 25

KARACHI: State Bank of Pakistan (SBP) will announce monetary policy for next two months on May 25, said a statement on Tuesday.

Exchange companies directed to retain identification of $500 and above transactions

KARACHI: In anti-money laundering efforts, State Bank of Pakistan (SBP) on Tuesday made it mandatory for exchange companies to retain identification on buy and sell transactions of $500 and above.

Banking timings during Ramazan-ul-Mubarak

KARACHI: State Bank of Pakistan (SBP) on Wednesday announced bank timings for public during Ramazan-ul-Mubarak starting from Thursday May 17, 2018.

Bank holiday on first Ramazan

KARACHI: All banks,Development Financial Institutions (DFIs) and Microfinance Banks (MFBs) will remain close on May 17, 2018- the first day of Ramadan ul Mubarak for public dealing due to deduction of Zakat.

Zakat deduction notified on bank balance Rs39,198 and above

KARACHI: The government has announced Zakat will be deducted from bank account having balance Rs39,198 and above.

Remittances grow to $16.2bn in 10 months

KARACHI: The inflows of foreign remittances have increased by 4 percent to $16.2 billion during first 10 months (July – April) of current fiscal year as compared with $15.64 billion in corresponding period of the last fiscal year, State Bank of Pakistan (SBP) said on Thursday.

Economic Survey 2017/2018: Government borrowing for budgetary support increases by 22pc

ISLAMABAD: The government borrowing for budgetary support has increased by 22 percent to Rs858.3 billion during the period of July 01 2017 to March 30, 2018 as compared with Rs704 billion in the corresponding period of the last fiscal year.