Governor SBP Inaugurates New Building of SBP BSC Sialkot Office
Governor State Bank of Pakistan, Mr. Jameel Ahmad today inaugurated the new building of State Bank of Pakistan, Banking Services Corporation (BSC) in Sialkot. The inauguration of this new building will enable BSC to meet the growing needs of the stakeholders in the region for various banking and banking related technology based services. The Governor…
Adil Aziz
Pakistan’s central bank raises key policy rate by 300 bps to highest level since 1996
The State Bank of Pakistan on Thursday raised the key policy rate by 300 bps to 20% as the country battles the highest inflation rate in nearly 50 years. Pakistan’s consumer price index (CPI) jumped 31.5% in February year-on-year, the statistics bureau said on Wednesday, the highest annual rate in nearly 50 years, as food,…
US, China, UK remained top three destinations of Pakistani exports in 7 months
The United States (US) remained the top export destination of Pakistani products during the seven months of the current fiscal year (2022-23), followed by China and the United Kingdom (UK). Total exports to the US during July-January (2022-23) were recorded at US$ 3567.699 million against the exports of US$ 3862.370 million during July- January (2021-22),…
China Development Bank has approved the facility of US$ 700 Million for Pakistan
Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar said that the Board of China Development Bank (CDB) has approved a US $700 million facility for Pakistan. In a tweet, he said that the State Bank of Pakistan (SBP) was expected to receive this amount in the ongoing week which shore up the country’s…
Pakistan’s current account deficit shrank 90% in January, says SBP
SBP said the country’s current account deficit shrank by 90 % in January from the same month last year as the government continued with its strategy to restrict imports The State Bank of Pakistan (SBP) said the country’s current account deficit shrank by 90 per cent in January from the same month last year as the government continued with…
Rupee gains Rs 2.82 against US dollar
The exchange rate of the Pakistani rupee strengthened by Rs 2.82 against the US dollar in the interbank trading on Thursday and closed at Rs 270.50 against the previous day’s closing of Rs 273.32. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded…
Rupee loses another Rs 6.82 against dollar
he exchange rate of the Pakistani rupee depreciated by Rs 6.82 against the US dollar in the Interbank trading and closed at Rs 262.60 against the previous day’s closing of Rs 255.42. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs…
NIBAF and CFASP signed MOU for Collaboration on “Certification in Treasury Management”
National Institute for Banking and Finance Pakistan (NIBAF) and CFA Society Pakistan (CFASP) signed a Memorandum of Understanding (MOU) to collaborate for capacity development of professionals working in banking industry, development finance institutions, stock exchanges, and corporate sector. Under this collaboration, the two institutions would support each other in matters and activities of mutual interest,…
Tentative target of Rs 1,819 billion agri- loans set for FY 2023-24: Governor SBP
Governor State Bank of Pakistan (SBP) Jameel Ahmed said the tentative target of agricultural loans was likely to be set at Rs 1,819 billion in the coming financial year 2023-24. He said this while addressing the launching ceremony of ‘Youth Business and Agri-loans scheme”, here, adding in the ongoing financial year 2022-23, the target of…
Monetary Policy Committee increase the policy rate by 100 basis points to 17 precent
The Monetary Policy Committee (MPC) decided to increase the policy rate by 100 basis points to 17 percent. The committee noted that inflationary pressures are persisting and continue to be broad-based. If these remain unchecked, they could feed into higher inflation expectations over a longer than-anticipated period. The MPC stressed that it is critical to…