SBP weighs in measures to conserve energy, fuel in banking sector
State Bank of Pakistan provides policy guideline to banking sector on energy conservation and the Central Bank has already a number of measures in this regard. SBP circular issued on Wednesday, addressing Presidents and CEO of commercial banks and other financial institutions, mentioned that the Federal and Provincial governments were taking a number of actions…
Adil Aziz
Highest ever daily inflows worth $57 million recorded in Roshan Digital Account: SBP
Deposit inflows in Roshan Digital Account (RDA) recorded highest ever daily figure on Tuesday as $57 million were deposited in a single day. According to a message by official twitter handle of the State Bank of Pakistan with the significant increase, total deposits in RDA have crossed $4.5bn till June 21, 2022. At the end…
Financial System performed well and remained resilient, says Financial Stability Review 2021
The State Bank of Pakistan (SBP) has issued its annual flagship publication, the Financial Stability Review (FSR) for CY21. The Review presents the performance and risk assessment of various segments of the financial sector including banks, non-bank financial institutions, financial markets, financial market infrastructures and non-financial corporates. The assessment of global dynamics highlights that due…
The Government and SBP refute baseless claims circulating on social media regarding Foreign Currency Accounts, Roshan Digital Accounts and Safety Deposit Lockers
The Government of Pakistan and the State Bank of Pakistan assure all account holders maintaining Foreign Currency Accounts (FCA), Roshan Digital Accounts (RDA) and Safety Deposit Lockers in banks in Pakistan that their accounts and lockers are completely safe, and that there is no proposal under consideration to put any restriction on them. Rumours are…
SBP unveils Easy Data, in a move aimed at supporting economic research and enhancing transparency
Efficient, timely and reliable data dissemination is a core undertaking of central banks across the world. Open data availability supports informed decision-making by households, firms, governments, academics, and other stakeholders, including financial market participants. Like other central banks, the SBP has been providing economic and financial data to all stakeholders. At the same time, it…
MMBL Champions the need to boost financial literacy in Balochistan at the Financial Literacy Gala 2022
Mobilink Microfinance Bank Ltd. (MMBL) – Pakistan’s largest digital Bank, set up a financial literacy camp at the University of Balochistan on Tuesday, May 31, 2022. The camp was organized under the State Bank of Pakistan’s National Financial Literacy Program for Youth. The gala had representatives from MMBL, SBP, RAAST, and other notable banks in…
SBP and IFC join hands to promote Agriculture Finance through Warehouse Receipts
Deputy Governor State Bank of Pakistan (SBP) Ms. Sima Kamil while addressing a two-day specialized training workshop on Electronic Warehouse Receipt Financing (EWRF) for banks observed that the subject training program will be instrumental to support SBP’s recent initiative to promote EWRF in the country and banks will be able to get hands on knowledge…
State Bank issues Advisory against Illegal offshore Foreign Exchange Trading Websites, Mobile Applications and Platforms
State Bank of Pakistan (SBP) has noticed that an increasing number of offshore foreign exchange trading websites, mobile applications and platforms such as OctaFX, Easy Forex, etc. are offering their products and services to residents of Pakistan. These digital platforms lure people through social media advertisements to buy/invest in their products or services. Examples of…
CDNS collect Rs 980 Billion fresh bonds by May 15
The Central Directorate of National Savings (CDNS) on Monday realized the target of issuing Rs980 billion fresh bonds in the last 10 months of current fiscal year 2021-22 from July 1st to May 15th. The CDNS had set an annual gross receipt target of Rs 980 billion from July 1 to June 30 of the…
Governor SBP assumes the Charge of Chairman ACU Board in its 50th meeting
Dr. Murtaza Syed, Governor (Acting) State Bank of Pakistan (SBP) assumed the charge of Chairman of the Board of Directors of the Asian Clearing Union (ACU) in the 50th meeting of the ACU Board held in Islamabad on May 13, 2022 in both physical and virtual modes. Established in 1974 with permanent headquarters in Iran,…