SBP
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SBP, NBP to withdraw appeals against imposing Islamic banking system in Pakistan: Dar
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[ad_1] Finance Minister Ishaq Dar speaks during a press conference in Islamabad, on November 9, 2022. — YouTube/PTVNewsLive ISLAMABAD: Finance Minister Ishaq Dar said Wednesday that the State Bank of Pakistan (SBP) and the National Bank of Pakistan (NBP) would withdraw their petitions from the Supreme Court of Pakistan against the judgment of the Federal…
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Rupee rises against dollar after Dar’s meetings with SBP officials
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[ad_1] A person counting 5,000 rupee notes. — AFP/File KARACHI: The Pakistani rupee opened the week on a positive note, recovering against the US dollar on Monday. Finance Minister Ishaq Dar’s meetings with the State Bank of Pakistan (SBP) officials and currency dealers produced good results as the local currency gained Rs1.59 or 0.72% against…
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Monetary policy: SBP maintains status quo at 15%
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[ad_1] State Bank of Pakistan— AFP/File KARACHI: In line with the market expectation, the State Bank of Pakistan (SBP) Monday kept the key interest rate unchanged at 15% for the next seven weeks. “The committee was of the view that based on currently available information, the existing monetary policy stance strikes an appropriate balance between…
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SBP leaves key policy rate unchanged at 15% | The Express Tribune
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[ad_1] KARACHI: In line with market expectations, Pakistan’s central bank left its key policy rate unchanged at 15% for the next seven-week on Monday, as it revised down projection for economic growth to 2% for current fiscal year 2023. “The existing monetary policy stance (at 15%) strikes an appropriate balance between managing inflation and maintaining…
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SBP moves apex court against Shariat court’s interest ban | The Express Tribune
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[ad_1] ISLAMABAD: The State Bank of Pakistan (SBP) moved on Saturday the Supreme Court against the Federal Shariat Court’s (FSC) decision to shift to an interest-free economy. Salman Akram Raja filed the petition on behalf of the SBP, while four other private banks also appealed against the FSC’s decision with the Ministry of Finance, Ministry…
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SBP injects Rs492 billion into banks | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank provided Rs491.70 billion to the conventional and Shariah-compliant banks for a longer period of two and a half month for the first time apparently to bring down the interest rate on financing to the government. “In an immediate reaction to the injection for the longer period, the yield on three-month…
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China deposits $2.3 billion to boost SBP reserves | The Express Tribune
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[ad_1] China has deposited $2.3 billion in State Bank of Pakistan (SBP) to boost Pakistan’s sliding foreign exchange reserves, Finance Minister Miftah Ismail announced on Friday. “I am pleased to announce that Chinese consortium loan of RMB 15 billion (roughly $2.3 billion) has been credited into SBP account today, increasing our foreign exchange reserves,” he…
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SBP quashes talk of dollar shortage | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has announced that there is no shortage of US dollars for import payments as the country’s foreign currency reserves of $8.99 billion “are fully usable for all purposes … (and) commercial banks have sufficient dollar liquidity to execute these payments”. “Import payments of around $4.7 billion have…
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FBR, SBP rules hinder IT export growth | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Information Technology and Telecommunication Syed Aminul Haque has said that the Federal Board of Revenue’s (FBR) policies and some rules of the State Bank of Pakistan (SBP) are hindering the growth of IT exports and increase in export remittances from freelancers. It has sparked fears that the local talent may…
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SBP may raise policy rate as yields stay high | The Express Tribune
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[ad_1] KARACHI: Commercial banks have maintained interest rates at a recent 11-year high at 15.25% on financing to the government for a period of three-month, signaling that the central bank may increase its key policy rate in the range of 50-100 basis points early next month. The interest rate on financing for six and 12-month…
