SBP raises Banks’ Cash Reserve Requirement from 5 percent to 6 percent to contain monetary expansion and moderate domestic demand
SBP has decided to increase the average Cash Reserve Requirement (CRR), to be maintained during a period of two weeks by scheduled banks, from 5 percent to 6 percent and minimum CRR to be maintained each day from 3 percent to 4 percent. CRR is the amount of money that banks are required to keep…
Adil Aziz
Governor SBP meets with Governors of Saudi Central Bank and Bank Indonesia
Governor Sate Bank of Pakistan (SBP), Dr. Reza Baqir, met the Governors of Saudi Central Bank (SCB) and Bank Indonesia (BI) today on the side lines of the 15th Islamic Finance Services Board (IFSB) Summit 2021, hosted by the Saudi Central Bank, in Jeddah. In separate meetings with the two Governors, various topics of…
Emirates Group announces half-year performance for 2021-22
The Emirates Group today announced its half-year results for its 2021-22 financial year. Group revenue was AED 24.7 billion (US$ 6.7 billion) for the first six months of 2021-22, up 81% from AED 13.7 billion (US$ 3.7 billion) during the same period last year. This strong revenue recovery was underpinned by the easing of travel…
Mobilink Microfinance Bank Bags Gender Diversity at Workplace Award- Banks by CFA Society Pakistan
Pakistan’s largest digital bank, Mobilink Microfinance Bank (MMBL) has won the prestigious Gender Diversity at Workplace Award (Banks) at the 18th Annual Excellence Awards Ceremony, by CFA Society Pakistan. Shaukat Tarin, Honorable Adviser to Prime Minister on Finance and Revenue graced the event as the chief guest and presented the award to Ghazanfar Azzam, President…
Mehfooz