Mobilink Bank’s loan disbursement to MSMEs to increase by 41%
Mobilink Bank stood out for its commitment to empowering Micro, Small, and Medium Enterprises (MSMEs), constituting a significant 36% of its total loan portfolio and a noteworthy MSME Growth (YoY) of 41% in 2023. The Bank strongly advocates for social mobility, especially in empowering MSMEs and women across remote rural regions, offering tailored financial products and services.
Mehfooz
Rising Trend of Digital Payment in Pakistan’s Retail Landscape
Quarterly Payment Systems Report for the quarter Q1 of FY-2023-24 is released by the State Bank of Pakistan, highlighting key advancements within the country’s payment ecosystem and providing an inclusive overview of digital transactional activities.
Editor
Banks to remain open on Saturday, Sunday for tax collection
The State Bank of Pakistan directed all banks to keep their branches open on Saturday and Sunday for collection of taxes, duties and other government receipts.
Adil Aziz
SBP releases annual report of 2022-23
The fiscal year 2023 was extraordinarily challenging, with a host of external and domestic shocks, amplified by lingering structural weaknesses, contributing to persistently high inflation amid a contraction in economic activities, according to Governor’s Annual Report (GAR) for fiscal year 2022- 23 released by the State Bank of Pakistan (SBP) today.
Pakistan’s foreign reserves touch by $ 12.855 Billion
The total liquid foreign reserves of Pakistan increased to US$ 12,855.7 million while the reserves held by the central bank reached at $ 7,757.1 million in the week ended on December 22, 2023.
IPO, PITB join hands for automation, digitization of IPO-Pakistan
The Intellectual Property Organization (IPO) and Punjab Information Technology Board joined hands and signed a Memorandum of Understanding (MoU) for the digitization and automation of IPO- Pakistan.
State Bank reserves decreased by $ 136 million to $ 6,904.8 million
The total liquid foreign reserves of Pakistan stood at US$ 12,068.4 million while the reserves held by the central bank reached $ 6,904.8 million in the week ended on December 15, 2023.
EXIM Bank to providing financial services for exporters and importers
Caretaker Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar formally launched the Pakistan’s Export-Import Bank (EXIM), marking a significant stride towards fortifying external trade, attracting investments and propelling broader economic growth in the country.
State Bank declared public holiday on Dec 25
The State Bank of Pakistan, announced public holiday on December 25 on the occasion of Quaid-e-Azam Day and Christmas.
Current Account Deficit declines to $1.6Billion in 5 months: SBP
The Current Account Deficit (CAD) has significantly slid down to $1.16 billion during the first five months of current fiscal year as compared to the deficit of $3.26 billion during the same period of last year, State Bank of Pakistan reported.