SBP slashes policy rate to 15% from 17.5%
KARACHI: As expected by the economists, SBP has slashed the benchmark policy rate to 15% from 17.5% here on Monday (4th November, 2024). SBP stated: “At its meeting today, the…
IMF: Pakistan receives $1.03 B tranche on 27th Sept
KARACHI: The State Bank of Pakistan (SBP), while acknowledging the receipt of $1.03 billion IMF tranche on Friday (27th Sept, 2024) told the Media that the amount would be reflected…
SBP cuts the key interest rate to 19.5 from 20.5pc
KARACHI: SBP Governor Jameel Ahmed, while talking to journalists at a Presser held here on Monday (29th July, 2024) informed that the Monetary Policy Committee of the SBP had decided…
SBP maintains policy rate at 22 percent
KARACHI: SBP Monday (29th April, 2024) persistently kept policy rate unchanged at 22 percent while stressing on continuation of the current monetary policy stance to bring inflation down to the…
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 to provide interest-free loans
DERA ISMAIL KHAN: The State Bank of Pakistan (SBP) is making it possible to provide unemployed women interest-free loans for starting large scale businesses in order to ensure their economic…
SBP to issue Rs100 coin to commemorate 10 years of CPEC
KARACHI: To mark the 10th anniversary of the China-Pakistan Economic Corridor (CPEC), the State Bank of Pakistan (SBP) to issue Rs 100 commemorative coin on Friday (11th of August, 2023).…
SBP keeps policy rate unchanged at 22 percent
KARACHI: The Governor of State Bank of Pakistan (SBP) Jameel Ahmad while announcing the monetary policy, said that SBP has decided to keep the policy rate unchanged at 22 percent.…
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…
IMF Deal: PM thanks KSA for depositing $2B at SBP
ISLAMABAD: Prime Minister has thanked the Saudi leadership for depositing two billion dollars with the State Bank of Pakistan to help secure a deal with IMF. He was talking to…
IMF Tranche: Saudi Arabia deposits US$2B at SBP
ISLAMABAD: PM Shehbaz Sharif has taken to the Twitter on Tuesday (11th of July, 2023) to inform that State Bank of Pakistan has received US$ 2 Billion deposit from Kingdom…
Ishaq Dar, SBP governor sign LOI for $3 b agreement with IMF
LAHORE: Federal Finance Minister Ishaq Dar and SBP governor Jameel Ahmad signed a Letter of Intent (LOI) for a nine-month US$ 3 billion Stand By Agreement with the International Monetary…
Rupee rises against US Dollar on 1st June
KARACHI: As the SBP allowed banks to get greenbacks from the interbank market for the settlement of card-based cross-border transactions with IPS, the rupee rose against dollar gaining Rs. 13…
SBP releases half yearly report on country’s economy
KARACHI: The State Bank of Pakistan (SBP) on Friday (19th of May, 2023) released its half yearly report on the country's state of economy, encompassing economic performance and challenges faced…
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-held forex reserves slips to $2916.7B
KARACHI: Following external debt payments of $170M the SBP held forex reserves slipped to $2916.7B as of the week ended Friday (3rd of February, 2023). It may be recalled that…
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’s Very Low Foreign Exchange Reserves
KARACHI: State Bank's Foreign Exchange Reserves is presently alarmingly low, i.e: $ 4.5 Billion. According to details this dangerously low SBP reserves is the result of repayment of loans worth…
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…
ADB releases USD $1.5 Bln under BRACE Program to SBP
ISLAMABAD: The Asian Development Bank (ADB) on Wednesday released $1.5 billion to the State Bank of Pakistan (SBP) under Building Resilience Under Active Countercyclical Expenditures (BRACE) Program. The BRACE program…
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SBP enhance monitoring of Forex operations
KARACHI: State Bank of Pakistan (SBP) increased monitoring of foreign exchange operations through inspection of exchange companies, banks and mystery shopping exercise. According to a statement issued here on Wednesday…
Riba, SBP seeks guidance
KARACHI: SBP seeks guidance from Shariat Appellate Bench of the Supreme Court of Pakistan on the Federal Shariat Court’s Judgement of April 28, 2022 on Riba case in terms of…
Dr. Murtaza Syed assumes charge of SBP’s interim Governor
KARACHI: Dr. Murtaza Syed has assumed the charge of SBP's interim today as the government refused to extend the 3-year contract of Dr. Reza Baqir. On 27th of January he…
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