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Finance Minister reviews progress on FATF Action Plan

ISLAMABAD: Finance Minister Asad Umar chaired a meeting of the National Executive Committee (NEC) on Tuesday to review the progress on FATF Action Plan.       National...

SBP updates banks on sugar export quota

KARACHI: State Bank of Pakistan (SBP) has informed the banks about updates related to criteria for sugar export quota.       The SBP said on Tuesday that...

SBP increases incentive of airtime to Rs2 on receipt of each...

KARACHI: State Bank of Pakistan (SBP) has increased incentive of airtime to Rs2 against each US dollar received through M-Wallet.     In a circular issued on...

SBP launches incentive scheme for home remittances

KARACHI: State Bank of Pakistan (SBP) on Monday announced incentive scheme for marketing of home remittances.       The central bank said in order to encourage domestic...

Foreign investment falls by 56.3 percent in five months

KARACHI: The inflows of foreign private investment have declined by 56.3 percent or $709 million during first five months (July-November) of current fiscal year,...

SBP launches home remittances survey for promoting formal channels

KARACHI: State Bank of Pakistan (SBP) has launched survey for home remittances in order to remove hurdles in transactions through formal channels.       The SBP on...

Pakistan receives $1 billion second tranche of Saudi package

KARACHI: Pakistan has received second installment of $1 billion under Saudi financial package of $3 billion.     The receipt of second tranche of Saudi package was...

Pakistan forex reserves slip by $242m to $13.754bn

KARACHI: Pakistan’s foreign exchange reserves have declined by $242 million to $13.754 billion by week ended December 07, 2018 as against $13.996 billion a...

AML/CFT REGIME: SBP makes CCTV cameras mandatory for exchange companies

KARACHI: State Bank of Pakistan (SBP) has made it mandatory for exchange companies to install Close Circuit Television (CCTV) cameras for monitoring of activities...

SBP issues amendment in definition of related party

KARACHI: State Bank of Pakistan (SBP) on Tuesday issued amendment in definition of related party under prudential regulations for corporate/commercial banking.       The SBP said Circular...

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