Pakistan News

    State Bank Of Pakistan Policy For Banks

  • State Bank widens Islamic banks' benchmark requirements

    The State Bank of Pakistan (SBP) has amended its regulations to exempt Islamic banks from using interest-based benchmarks for some of their financing products, the latest government step aimed at boosting Islamic finance...

    Despite a direct ban on charging interest, interest-based benchmarks are used as a pricing reference by a majority of Islamic banks, due in part to the absence of stable and widely-published alternatives...

  • State Bank directs banks to adopt PayPak cards

    KARACHI: The State Bank of Pakistan (SBP) on Thursday asked all banks to expedite adopting PayPak cards in order to ensure the safety and security of payment instruments and consumers’ money...

    After the recent Habib Bank ATM scam which resulted into loss of Rs10...

  • State Bank holds fire on policy rate

    KARACHI: The State Bank of Pakistan (SBP) on Saturday kept its policy rate unchanged at 6 per cent, saying headline inflation is expected to reverse its declining momentum...

    Average inflation, however, would still remain below the target of 6pc for this fiscal year, with a subdued outlook for prices of oil and other major commodities, said a monetary policy statement issued by the central bank...

  • State Bank holds policy rate steady at 13.25pc

    KARACHI: The State Bank of Pakistan (SBP), in its monetary policy announced on Monday, kept the policy rate unchanged at 13...

    However, the central bank also warned that “fiscal slippage or other adverse developments” could cause inflation to start rising again...

  • State Bank maintains policy rate at 13.25%

    The State Bank of Pakistan (SBP) on Tuesday held its main policy rate at 13...

    “While controlling inflation we also have to support sectors that contribute to our exports,” SBP Governor Dr Reza Baqir said at the monetary policy announcement...

  • 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...

  • India plans to give $11bn lifeline to ailing state banks

    NEW DELHI: Planning to inject $11 billion of capital into debt-laden state banks over the next four years, India’s Finance Minister Arun Jaitley on Friday sought parliament’s approval to boost budget spending by $4bn in the current fiscal year...

    High levels of non-performing assets in state-run banks have made it hard for the government of Prime Minister Narendra Modi to revive investment or accelerate growth in Asia’s third largest...

  • Letter from Mumbai: Merger for turnaround of state-run banks

    THE Indian government finally decided last week to merge the five associate banks of State Bank of India (SBI), the country’s largest bank, with the largest lender...

    Finance Minister Arun Jaitley said the union cabinet has accepted the recommendations of the different public sector banks to merge the banks with SBI...

  • China pushes state banks into home rental market at their own risk

    SHENZHEN: As property prices rocket across China, Beijing has appealed to the country’s banks and insurers to help accelerate the development of rental markets as a way of making homes more affordable and rein in speculative sale markets...

    The big state banks have responded by pledging more than 3 trillion yuan ($467 billion) in rental housing financing, including for real estate developers, leasing firms and tenants, according to...

  • India using terrorism as state policy to destabilise neighbouring countries including Pakistan: FO

    Pakistan on Thursday said India was "using terrorism as a state policy" to destabilise neighbouring countries, and that a recent United Nations Monitoring Report had "endorsed Pakistan’s stance that Tehreek-e-Taliban Pakistan (TTP) is operating from Afghanistan and with Indian support"...

    It also rejected what it said was "malicious Indian allegations" about the UN report saying there were militant "safe havens" in Pakistan...

  • 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”...

    PML-N president Shah­baz Sharif, on Wednesday, spent a busy day meeting workers in various areas of Lahore and mobilising them...

  • Riaz Riazuddin appointed governor of State Bank of Pakistan

    The federal government has appointed Riaz Riazuddin as the acting Governor of the State Bank of Pakistan (SBP), a notification issued on central bank's website stated...

    Riazuddin, who had been serving as a deputy governor at SBP, has been appointed as governor for a period of three months or "till the appointment of a regular governor"...

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