SBP aims to double SME financing to Rs.1100 Billion
Deputy Governor State Bank of Pakistan (SBP), Saleemullah has reaffirmed the central bank’s objective to double the financing of Small and Medium Enterprises (SMEs) to Rs.1100 billion over the next five years under the Vision-2028 and urged the banks to embrace SME finance as a core business line to boost MSME growth.
Editor
SBP for adoption of Digital Supply Chain Finance solutions by banks
The State Bank of Pakistan instructed banks to develop and implement digital solutions for supply chain finance within six months to leverage the technology for increasing the SMEs’ access to finance and digitizing retail payments.
Adil Aziz
SBP slashed the policy rate at 20.5 percent
The State Bank of Pakistan slashed the policy rate by 150 basis points to 20.5 percent owing to subsiding inflationary pressure and ease in inflation expectations amid tight policy stance that was also supported by fiscal consolidation and administrative measures by government.
Easypaisa enables in-app QR payments for sale, purchase of sacrificial animals on Eid-ul-Azha
Easypaisa, is bringing ease and convenience to its users on the Eid-ul-Azha for the sale and purchase of sacrificial animals through its very own in-app Raast-based QR code payment mechanism.
US is top export destination of Pakistani products
The United States (US) remained the top export destination of Pakistani products during the first ten months of the current financial year 2023-24, followed by China and the United Kingdom (UK).
Pay with JazzCash QR at cattle markets on Eid
To streamline financial transactions at cattle markets ahead of Eid-ul-Azha, JazzCash has partnered with the State Bank of Pakistan (SBP) to enable interoperable RAAST QR codes for payments at cattle markets nationwide. The initiative is poised to replace cash-based transactions with secure, efficient digital payments, ensuring safe and secure transactions.
Pakistan’s regional exports surged by 20.61% from July-April-FY 23-24
Pakistan’s exports to the seven regional countries witnessed an increase of 20.61 percent in the first ten months of the financial year 2023-24.
RDA inflows rise to $7.831 Billion in April 24
The inflow of remittances under Roshan Digital Account (RDA) has risen to US $7.831 billion by the end of April 2024 as compared to US $7.660 billion by march (2024) end, according to the State Bank of Pakistan.
Real GDP grew by 1.7% in H1-F-24, macroeconomic conditions improved: SBP
The State Bank of Pakistan (SBP) report said that Pakistan’s macroeconomic conditions improved and real GDP grew by 1.7% while inflationary pressures remained at elevated levels during the first half of fiscal year 2023-24.
Governor SBP briefs foreign investors about Pakistan’s significantly improved macro economic outlook
Governor SBP, Mr. Jameel Ahmad, met key international investors during multiple events organized by leading global banks and financial firms, including JP Morgan, Citibank and Jefferies, on the side lines of the IMF-World Bank Spring Meetings in Washington DC. Governor SBP informed the participants about the substantial improvement in Pakistan’s macroeconomic outlook achieved over the past year as a result of a prudent monetary policy, backed adequately by fiscal consolidation and beginning of the implementation of key structural reforms.
Mehfooz