Pakistan News

    New Notes State Bank Of Pakistan Karachi

  • State Bank issues new currency notes worth Rs249bn for Eid

    KARACHI: State Bank of Pakistan's (SBP) Banking Services Corporation issued Rs249 billion worth of fresh currency notes to meet the increasing demand on the occasion of Eidul Fitr...

    Out of this approx Rs31 billion comprised lower denomination notes of up to Rs100, while banknotes worth approximately Rs218 billion of higher denomination were issued for meeting heavy payments requirements and ATM needs of commercial banks...

  • Fake currency notes an undeniable fact, says State Bank

    KARACHI: The presence of counterfeit currency notes is an undeniable fact and primary responsibility to check their influx lies with law enforcement agencies, the State Bank said in a statement on Tuesday...

    The central bank denied that banks were involved in supply of counterfeit notes...

  • Withholding tax slows down bank deposit growth: State Bank

    KARACHI: Withholding tax (WHT) on financial transactions is acting against the goal of achieving financial depth, a State Bank of Pakistan’s (SBP) report said on Friday, highlighting that for the first time since 2009-10 the monetary expansion came more from currency in circulation than the bank deposit growth...

    The campaign could not sustain despite the fact that the business community, particularly retailers and medium-sized...

  • LITERARY NOTES: Can the state of Pakistan afford to ignore Sir Syed?

    As he is credited with formulating the two-nation theory — the ideology that entailed the Hindi-Urdu controversy and led to the creation of Pakistan — we thought that Sir Syed must be the establishment’s poster boy for nationalism and independence...

    It seems that Sir Syed and his services, that he rendered for the people of South Asia in general and Muslims in particular, have been ignored in Pakistan...

  • Karachi costliest, Lahore cheapest city: State Bank of Pakistan

    KARACHI: Dispelling the impression that Islamabad is Pakistan’s costliest city, Karachi has emerged as the most expensive metropolis in the country while Lahore is the least expensive...

    According to State Bank’s Inflation Monitor, June 2016, inflation in Karachi – once known as a poor man’s city – has been at its highest level during the year, leaving the capital city of Islamabad way behind...

  • Punjab Notes: Mob justice: state and society

    Our main concern here is the effect crimes have on the people and the public response they evoke in the context of state and society that have lost their most important tools: the former its writ and the latter its equilibrium...

    Vengeful crowd though emitting unmistakable signals of wild and unrestrained power is driven by fear which is unenviable result of crisis of self-preservation triggered by faltering writ of fragile state... ...

  • Nawaz says he will rid Pakistan of ‘state above state’

    LAHORE: As the Pakis­tan Muslim League-Nawaz (PML-N) prepares to give a rousing welcome to ousted prime minister Nawaz Sharif and his daughter Maryam Nawaz on their arrival in Lahore on Friday, the party supremo has pledged that he will liberate Pakistan from “those who are running a state above the state”...

    Speaking at a party conference in the ballroom of the Grosvenor House Hotel in central London’s Mayfair district, Nawaz Sharif...

  • Coin commemorating Edhi to be issued by State Bank of Pakistan

    The State Bank of Pakistan (SBP) on Tuesday announced it will launch a special coin on March 31 in honour of late humanitarian and Edhi Foundation Chairman Abdul Sattar Edhi, a press release issued from the bank stated...

    He managed Pakistan’s largest welfare organisation almost single-handedly with the assistance of private donations...

  • Pakistan's State Bank governor calls India's cash clampdown 'extreme'

    State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra has called India's shock clampdown on cash an “extreme” step to boost financial inclusion, tax collection and battle graft...

    “To my imagination that is a very, very extreme measure,” Governor Wathra said in an interview with Bloomberg economic and financial news service, after the forum it organised in Karachi on Wednesday...

  • Bahrain's Bank Alkhair gets nod to sell stake in Pakistan's Burj Bank

    Bahrain-based Bank Alkhair said on Wednesday it had received approval from the State Bank of Pakistan to sell its stake in Pakistan's Burj Bank to a subsidiary of Bahrain's Al Baraka Banking Group...

    Al Baraka, one of the Gulf's top Islamic banks, had said in September that its Pakistani unit, Al Baraka Pakistan, would merge with Burj Bank to create an institution with assets totalling more than $1...

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