Workers’ remittances down 12.84 in July-May FY 23
The overseas workers’ remittances posted a decline of 12.84 percent during first eleven months of fiscal year 2022-23 as the remittances fell from $28.489 billion in July-May of FY22 to $24.831 billion in the period under review. On a year-on-year basis, the overseas workers’ remittances recorded an inflow of US$ 2.102 billion in May 2023,…
Adil Aziz
Governor SBP Inaugurates Bank Alfalah’s First Digital Lifestyle Branch
Governor State Bank of Pakistan Mr. Jameel Ahmad has said that Pakistan’s banking industry was investing in technological upgrades to facilitate its customers and improving their overall banking experience. He was optimistic that exciting projects like Bank Alfalah’s First Digital Lifestyle Branch will unlock new opportunities, making banking easier to access and leading a more…
E-banking transactions grow by 4.3% in Q3 FY23: SBP
Overall e-banking transactions increased by both volume and value during the third quarter of fiscal year 2022-23 due to increasing collaboration between banks and fintech companies and the provision of efficient, accessible and user-friendly digital payments platform for customers. The State Bank of Pakistan, in its third quarterly review of Payment Systems released here on…
Around 21% banks become Shariah-compliant: Ishaq Dar
Minister for Finance and Revenue Senator Mohammad Ishaq Dar said almost 21 percent of the banks operating in the country had so far been aligned with Islamic laws due to concerted efforts of the policymakers. Addressing Pakistan’s first international conference on “Islamic Capital Markets,” jointly organized by the Security and Exchange Commission of Pakistan (SECP)…
State Bank of Pakistan and Ministry of Foreign Affairs Jointly Conducted Training Program for ASEAN Member States
National Institute of Banking and Finance (NIBAF), a subsidiary of State Bank of Pakistan, in collaboration with Ministry of Foreign Affairs organized a 5-day training program on ‘Digital Payments Landscape and Financial inclusion in Emerging Markets’ for ASEAN Member states. The program was held from May 8-12, 2023, which was attended by 24 participants from…
Pakistan’s total foreign reserves reach at $ 9.99 Billion
The total liquid foreign reserves of Pakistan stood at US$ 9,990.4 million while reserves held by the central bank reached US$ 4,383.4 million. The State Bank of Pakistan, in a statement issued here on (11-May) Thursday, informed that foreign reserves of the central bank decreased by US$ 74 million to US$ 4,383.4 million due to…
SBP Governor for evolving effective strategy to avert impacts of climate change
State Bank of Pakistan (SBP) Governor Jameel Ahmad underlined the urgent need for creating required resilience against negative impacts of climate change to protect humans, agriculture and livestock, besides uplifting the regional economies to alleviate vulnerabilities faced by them. Addressing the SAARCFINANCE Symposium here, he said Pakistan was ranked among the top 10 most affected…
SBP reminds public to encash withdrawn prize bonds by extended deadline of June 30
The State Bank of Pakistan (SBP) reminded the citizens to encash or redeem withdrawn prize bonds by June 30, 2023 to avail the final opportunity that was unlikely to be extended further. The central bank, in a statement issued here, stated that withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 could be redeemed…
Workers’ remittances down 10.8 pc in Jul-Feb FY-23
The overseas workers’ remittances posted a decline of 10.8 percent during first eight months (Jul-Feb) of fiscal year 2022-23 as the remittances fell from $20.18 billion in Jul-Feb of FY22 to $18.00 billion in the period under review. On year-on-year basis, the overseas workers’ remittances recorded an inflow of US$2.0 billion in February 2023, posting…
Rupee recovers Rs 1.52 against dollar
The Pakistan rupee recovered Rs 1.52 against the dollar in the interbank trading on Friday and closed at Rs 280.77 against the previous day’s closing of Rs 282.29. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 281.5 and Rs 284…