Pakistan ranks second on Economist normalcy index: Asad Umar
ISLAMABAD: The global normalcy index of the Economist has ranked Pakistan second in the world that measured recovery and opening up of society and economy post-COVID-19. This was stated by Minister for Planning and Development, Asad Umar from his Twitter handle. Sharing the index report Umar said Pakistan was 3rd in the first evaluation and…
Adil Aziz
SECP issues a Guidebook for formation and licensing of NBFC
ISLAMABAD: In order to facilitate the prospective investors of Non-Banking Finance Sector and as part of its objective to promote ease of doing business, the Securities and Exchange Commission of Pakistan (SECP) has issued a procedural guide on formation and licensing of Non-Banking Finance Companies (NBFCs). Available on the SECP’s website, this guidebook provides comprehensive…
Pakistan’s loans surge to $4.68B in first five months of Current FY
ISLAMABAD: Foreign loan disbursements surged to $4.69 billion in the past five months (July-November) of the current fiscal year The loan details have been made public two days after Minister for Information and Broadcasting Fawad Chaudhry highlighted the gravity of the situation, saying that the government was taking new loans to pay off the old…
Governor SBP witnesses the disbursement of first loan under SME Asaan Finance (SAAF) Scheme in Multan During the visit of Multan
Chamber of Commerce and Industry (MCCI) today, Governor State Bank of Pakistan, Dr. Reza Baqir, witnessed a check distribution ceremony held to mark the disbursement of first set of loans by Meezan Bank under SME Asaan Finance (SAAF) scheme today. Addressing the audience, the Governor underscored the importance of SME sector for the economy and…
Be cautious of illegal investment schemes through fractionalization of Real Assets
To protect the general public from unlawful/illegal activities being carried out by various companies, the Securities and Exchange Commission of Pakistan (SECP), frequently issues public warnings advising the general public to refrain from investing in any fraudulent investment schemes. SECP has noticed that below listed companies through their online platforms/websites are involved in illegal schemes…
Overseas Workers’ Remittances in November 2021
• With $2.4 billion of inflows during November 2021, workers’ remittances continued their strong streak of remaining above $2 billion since June 2020. • In terms of growth, on y/y basis, remittances increased by 0.6 percent in November 2021, while they declined by 6.6 percent on m/m basis. • Cumulatively, at $12.9 billion, remittances grew…
Governor SBP Dr. Reza Baqir appointed as Chairman of the Council of Islamic Financial Services Board
The Governor State Bank of Pakistan, Dr. Reza Baqir has been appointed as the Chairman of the Council of Islamic Financial Services Board (IFSB), Malaysia for the year 2022. His appointment was approved by the IFSB Council in its 39th meeting held on 9th December 2021 in Abu Dhabi, United Arab Emirates (UAE). He had…
10th Annual Islamic Finance Expo & Conference (IFEC-2021)
The 10th Annual Islamic Finance Expo & Conference (IFEC-2021) will be held on 30th of November 2021 at Marriott Hotel, Karachi, under the theme of “New Normal, Digital Transformation and Islamic Economy – (IFEC is A Vision of Riasat-e-Madina”). This event will be a key initiative in creating the mass awareness of Islamic Finance industry…
Clarifications: Monetary Policy Decisions
Over the past few weeks, certain sections of the media including op-eds have expressed concerns over the actions of the State Bank of Pakistan, particularly with regard to monetary policy decisions and the role of the Covid-related monetary accommodation in fueling the currently elevated inflation outturns. The SBP would like to address these concerns and…
Finance Adviser lunches Pakistan’s first PCM for capital market
As a landmark achievement in Pakistan’s capital market landscape, the first Professional Clearing Member (PCM) has been formally inaugurated by the Adviser to the PM on Finance & Revenue, Mr. Shaukat Tarin on Nov 26, 2021 at CDC House, Karachi. Speaking at the occasion, Mr. Shaukat Tarin said, “It is the top priority of our…