SBP weighs in measures to conserve energy, fuel in banking sector
State Bank of Pakistan provides policy guideline to banking sector on energy conservation and the Central Bank has already a number of measures in this regard. SBP circular issued on Wednesday, addressing Presidents and CEO of commercial banks and other financial institutions, mentioned that the Federal and Provincial governments were taking a number of actions…
Adil Aziz
Highest ever daily inflows worth $57 million recorded in Roshan Digital Account: SBP
Deposit inflows in Roshan Digital Account (RDA) recorded highest ever daily figure on Tuesday as $57 million were deposited in a single day. According to a message by official twitter handle of the State Bank of Pakistan with the significant increase, total deposits in RDA have crossed $4.5bn till June 21, 2022. At the end…
Financial System performed well and remained resilient, says Financial Stability Review 2021
The State Bank of Pakistan (SBP) has issued its annual flagship publication, the Financial Stability Review (FSR) for CY21. The Review presents the performance and risk assessment of various segments of the financial sector including banks, non-bank financial institutions, financial markets, financial market infrastructures and non-financial corporates. The assessment of global dynamics highlights that due…
PayFast by APPS Becomes the First Fintech in Pakistan to Partner with Visa Through Cybersource
PayFast by APPS (“PayFast”) is proud to become the first fintech in Pakistan to partner with international payments leader Visa through Cybersource. The nature of the partnership sees Cybersource offering its robust and dynamic digital payment solution suite to PayFast. It includes E-commerce checkout, digital merchant platform, Fraud Management, and SoftPOS. This initiative paves the…
Govt all set to present progressive budget on Friday
The incumbent coalition government is all set to present its first pro-people, business-friendly and progressive budget for the fiscal year 2022-23 in the Parliament on June 10 (Friday), with special focus on fiscal consolidation to contain budget deficit. The budget would be presented by Federal Minister for Finance and Revenue, Miftah Ismail. The budget had…
PSX Joins SSE Initiative
Pakistan Stock Exchange (PSX) is proud to join the Sustainable Stock Exchanges (SSE) Initiative. The SSE Initiative is a partnership program under the auspices of the UN organised by United Nations Conference on Trade and Development (UNCTAD), the UN Global Compact, United Nations Environment Programme Finance Initiative (UNEP-FI) and the Principles for Responsible Investment (PRI)….
The Government and SBP refute baseless claims circulating on social media regarding Foreign Currency Accounts, Roshan Digital Accounts and Safety Deposit Lockers
The Government of Pakistan and the State Bank of Pakistan assure all account holders maintaining Foreign Currency Accounts (FCA), Roshan Digital Accounts (RDA) and Safety Deposit Lockers in banks in Pakistan that their accounts and lockers are completely safe, and that there is no proposal under consideration to put any restriction on them. Rumours are…
Digitized Financial Inclusion may change fate of underprivileged: Experts
Banking the unbanked population through digitized financial inclusion may bring positive change in the lives of the underprivileged populations and the national economy. This was stated by banking leaders and financial experts while sharing their views during a panel discussion “Digital Affairs: Financial Inclusion in Pakistan” hosted by Karachi Council on Foreign Relations (KCFR) in…
SBP unveils Easy Data, in a move aimed at supporting economic research and enhancing transparency
Efficient, timely and reliable data dissemination is a core undertaking of central banks across the world. Open data availability supports informed decision-making by households, firms, governments, academics, and other stakeholders, including financial market participants. Like other central banks, the SBP has been providing economic and financial data to all stakeholders. At the same time, it…
SECP registers 1,906 new companies in May 2022
The Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies in May 2022, raising the total number of registered companies to 169,919. This shows an increase of 19% as compared to corresponding period last year. Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs3.5 billion. Foreign…