SBP keeps policy rate at 22 per cent
KARACHI: SBP on Monday (18th March, 2024) cautiously decided to keep policy rate at 22 per cent on pretext of elevated inflation expectations that required continuity of the current monetary…
IMF releases $700M Tranche
KARACHI: SBP has taken to the X (Twitter) Wednesday (17th Jan, 2024) to confirm that it had received $705.6 Million from IMF following successful completion of the first review by…
SBP keeps policy rate unchanged at 22%
KARACHI: State Bank of Pakistan, Thursday, decided to maintain the policy rate at 22% owing to declining inflation, improving agriculture outlook and economic activity, and positive impacts of administrative and…
SBP imposes monetary penalty on 6 banks
KARACHI: The State Bank of Pakistan (SBP) imposed monetary penalty of Rs.350.799 million on 6 banks for violation of regulatory instructions during. The banking supervision department of the central bank…
Policy Rate hiked BY SBP to 21%
KARACHI: SBP has hiked the policy rate to 21 percent on Tuesday 4th of April, 2023. Following a meeting of MPC the SBP has stated: “The MPC noted that inflation…
Interest Rate Hiked by 300bps, Highest Since ’96
KARACHI: Cowing down to the shifting goalposts of IMF the SBP has augmented the interest rate (by 300 bps) to 20 %. Taking to the Twitter SBP announced: "The Monetary…
SBP increases interest rate by one percent to 17pc
ISLAMABAD: State Bank of Pakistan on Monday (22nd of Jan 2023) announced to increase the interest rate by one percent to 17pc. sbp This was announced by (SBP) Governor Jameel…
SBP announces bank holiday on 2nd January
KARACHI: The State Bank of Pakistan will remain closed for public dealing on Monday (2nd January, 2023) which will be observed as ‘Bank Holiday’. According to a notification issued by…
SBP: Person-to-Person payments
KARACHI: SBP has come up with a policy enabling Person-to-Person fund transfers in the country through Raast, Pakistan’s Instant Payment System developed by the Central Bank. Raast—an Urdu word which…
Digital payments remain on upward trajectory in FY21: SBP
ISLAMABAD: The State Bank of Pakistan (SBP) on Friday released its Annual Payment Systems Review (PSR) for the fiscal year 2020-21, which shows strong growth in the space of digital…
Banks instructed to digitize corporate payments
KARACHI: State Bank of Pakistan (SBP) has now made it mandatory for its regulated entities (REs) including banks, microfinance banks, payment system operators and payment system providers to provide digital…
SBP claims transparency in sale of 3rd party products for consumer protection
KARACHI: State Bank of Pakistan has issued comprehensively revised set of instructions on the sale of third party products to address concerns and bring transparency and protect the consumers. In…
SBP to introduce digital cheque clearing, unified QR code for payments
KARACHI: The State Bank of Pakistan (SBP) has announced to introduce digital cheques clearing and a unified QR code for payments in a bid to promote digital financial products and…
SBP extends relaxation of biometric verification till end of the year
KARACHI: Considering the intensity and ongoing impact of COVID-19 pandemic, the State Bank of Pakistan has further extended the relaxations regarding bio-metric verification and activation of dormant accounts to December…
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SBP announces office, business hours during Ramazan-ul-Mubarak
ISLAMABAD: During the ensuing holy month of Ramazan-ul-Mubarak 1442 AH, the following office hours will be observed in the State Bank of Pakistan (SBP), which will also be followed by…
Approaching IMF essential: Governor SBP
ISLAMABAD: Governor State Bank of Pakistan (SBP), Reza Baqir on Friday said that incumbent government had to approach International Monitoring Fund (IMF), for addressing country’s economic issues. All out efforts…
SB Governor to moderate dialogue on Banking on Equity
KARACHI: The State Bank of Pakistan (SBP) has developed a draft policy titled ‘Banking on Equity’, which aims to introduce a gender lens within the financial sector through targeted measures…
Housing Finance: BP creates service desk for complaints
ISLAMABAD: The State Bank of Pakistan (SBP) has created Service Desk to facilitate borrowers under government’s markup subsidy for housing finance for lodging complaints against banks while availing financing. The…
SBP defers Rs 657.8 bn under refinancing scheme during COVID-19
ISLAMABAD: The State Bank of Pakistan (SBP), under its refinancing scheme for protecting businesses from the impact of COVID-19, has so far deferred Rs 657.8 billion principal repayments of loans…
SBP announces new regulatory incentives to promote affordable housing finance
KARACHI: State Bank of Pakistan (SBP) is constantly providing enabling regulatory environment to promote housing and construction finance and it has come with new regulatory incentives for the same. The…
No fresh currency notes to be issued this Eid: SBP
KARACHI: The State Bank of Pakistan (SBP)’s committee on COVID-19 has announced that no fresh currency notes would be issued on the occasion of Eid-ul-Fitr. The decision has been taken…
SBP Governor speaks about Pakistan Economy at IBA
KARACHI: The Institute of Business Administration (IBA), Karachi has organized a distinguished lecture on Pakistan’s Economy: Macroeconomic Challenges and Outlook, by Governor State Bank of Pakistan, Dr. Reza Baqir here…
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SBP to remain closed from August 12-15
ISLAMABAD: The State Bank of Pakistan will remain closed from August 12 to 15 (Monday to Thursday) being public holidays on the occasion of Eid-ul-Adha. However, August 17 (Saturday) will…
State Bank Of Pakistan SBP
SBP increases interest rate by 150 basis points to 12.25pc
KARACHI: The State Bank of Pakistan (SBP) increased the key interest rate by 150 basis points to a record high at 12.25 percent to slow down increasing inflationary pressure. First,…