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Posts tagged "central bank"

Job market to remain tight as the State Bank of Pakistan continues to push for economic stability

The central bank has increased its monetary policy rate by 0.25%

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January 31, 2019

 

SBP denies rumors of issuing Rs 10,000 banknote

KARACHI:The State Bank of Pakistan (SBP) has categorically denied a news item circulating in a section of social media regarding issuance of Rs 10,000 banknote. The existing banknote denominations satisfactorily meet the payment, settlement and other allied needs of the economy and thus there is no need for issuing higher denomination banknotes, said a press…

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March 23, 2018

 

Companies are free to choose Chinese Yuan for bilateral trade, investment activities: SBP

The State Bank of Pakistan, in the capacity of the policy maker of financial & currency markets, has taken comprehensive policy related measures to ensure that imports, exports and financing transactions can be denominated in CNY. Both public and private sector enterprises (i.e. both Pakistanis and Chinese) are free to choose CNY for bilateral Trade &…

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January 2, 2018

 

Japan’s factories, retailers rev up, central bankers flag stimulus reduction

FILE PHOTO: A worker cycles near a factory at the Keihin industrial zone in Kawasaki, Japan, November 15, 2017. REUTERS/Toru Hanai/File Photo TOKYO: Japan’s factories and retailers posted better-than-expected growth in activity in November, while minutes from the central bank’s last policy meeting showed board members raising the prospect of reducing stimulus, reported Reuters. The…

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December 28, 2017

 

SBP takes notice of skimming incidences-relevant Bank to compensate fully its customers

KARACHI: During the preceding week, State Bank of Pakistan (SBP) noted with concern that customers’ information on debit cards of Habib Bank Limited was compromised by hackers through skimming to create its clones and were used to withdraw depositor’s money from various locations within and outside the country. Since then SBP has been in contact…

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December 5, 2017

 

SBP grants commencement of banking business to Bank of China

KARACHI: The State Bank of Pakistan (SBP) has allowed commencement of banking business to the Bank of China Limited, says an announcement here on Monday. Earlier, SBP had issued a banking license to the bank in the month of May 2017. The Bank of China Limited has complied with the important regulatory and operational requirements…

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September 18, 2017

 

Foreign reserves rise to $14,375.1 million

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) rose 0.45% on a weekly basis, according to data released by the central bank on Thursday. The SBP’s press release states, “On August 18, the foreign currency reserves held by the central bank were recorded at $14,375.1 million, up $64.6 million or…

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August 25, 2017

 

Chinese president tells country’s central bank to play bigger role in managing financial risk

BEIJING/SHANGHAI: China’s central bank will take on a bigger role in macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that ended on Saturday, reported Reuters. Financial security is a vital part of national security, Xi said at the fifth National Financial Work…

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July 16, 2017

 

SBP maintains policy rate unchanged at 5.75 percent

KARACHI: The State Bank of Pakistan has kept the policy rate unchanged at 5.75 percent. An announcement to this effect was made here on Saturday by the Monetary Policy Committee of the SBP. The statement said that the real GDP growth in the fiscal year 2017 (FY17) is provisionally estimated at 5.3 percent representing a…

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May 20, 2017

 

SBP urges traders to import through EIF

RAWALPINDI: In order to curb illegal and duplicate payments of imports by unscrupulous elements all imports in the country should be made compulsorily through Electronic Import Form (EIF), said Director Exchange policy department State Bank of Pakistan Fazal Mehmood said here Friday. Addressing a interactive session on Electronic Import Form (EIF)  organized by Rawalpindi Chamber…

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May 19, 2017

 

SBP inks agreement with Iranian bank

An agreement on Banking and Payment Arrangement (BPA) has been signed between State Bank of Pakistan (SBP) and Bank Markazi Jomhouri Islami Iran (BMJII) today in Tehran. Mr. Riaz Riazuddin, Deputy Governor, SBP and Mr. Ghulamali Kamyab, Vice Governor, BMJII have signed the agreement on behalf of their respective central banks. The objective of this…

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April 14, 2017

 

SBP clarifies authenticity of Rs. 500 notes

KARACHI: The State Bank of Pakistan (SBP) has clarified the authenticity of Rs 500 Banknotes without OVI. Apropos the news circulating in some sections of social media regarding authenticity of Rs 500 banknotes without OVI flag, it may be recalled that the State Bank had introduced new design banknotes of Rs 500 in 2006′, said…

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March 27, 2017

 

SBP keeps policy rate unchanged at 5.75 percent

KARACHI: The Monetary Policy Committee of the State Bank of Pakistan (SBP) has decided to keep the policy rate unchanged at 5.75 percent. The announcement to this effect was made in a statement of the SBP issued here on Saturday. It said the inflation expectations in the current fiscal year continue to remain well anchored….

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March 25, 2017

 

SBP clarifies position on relocation to Lahore

KARACHI: State Bank of Pakistan (SBP) said none of its department is being shifted to Lahore. However, part of a few functional departments of its subsidiary responsible to undertake operational work is being relocated to Lahore, to meet the oversight and logistic requirements for operational efficiency.   The central bank said its press release that…

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October 15, 2016

 

Pakistan’s liquid foreign reserves position

KARACHI: The State Bank of Pakistan says that the total liquid foreign reserves held by the country stood at US$22,858.4 million on 09September2016. The break-up of the foreign reserves position is as under:- i)    Foreign reserves held by the State Bank of Pakistan :    US$  17,853.7  million ii)    Net foreign reserves held by commercial banks        …

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September 15, 2016

 

Pakistan’s foreign reserves stand at $23,081 mln: SBP

KARACHI: The State Bank of Pakistan (SBP) says that the total liquid foreign reserves held by the country stood at US$23,081.2 million on 19 August 2016. According to the central bank, the break-up of the foreign reserves position is  as under:- Foreign reserves held by the State Bank of Pakistan: US$ 18,186.8 million Net foreign…

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August 25, 2016

 

SBP issues Prepaid Card regulations

KARACHI: The State Bank of Pakistan (SBP) says it has issued Prepaid Card Regulations to promote electronic payments in Pakistan by introducing alternate digital means of payments and achieve greater financial inclusion by taking advantage of the technological developments in the card industry, The Prepaid Card is a payment instrument built around a pay early,…

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May 9, 2016

 

SBP report stresses over need for reforms

KARACHI: The State Bank of Pakistan on Thursday stressed upon removing structural rigidities of various economic sectors, especially the export sector, in order to shift reliance from debt inflows for the financing of current account deficit and building up of foreign exchange reserves. “The first and foremost, exports, the prime source of foreign exchange earnings…

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July 16, 2015

 
 
 
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