ISLAMABAD -1.8 billion injected into cash starved Pakistani economy revealsthe statement by the spokesperson of State Bank of Pakistan on Thursday.
It was announced that the rate of investment in the country saw an increaseof 68 percent from July till December, ARY News reported.
The statement further read that foreign investment in Pakistan was recordedat 1.34 billion dollars in the past six months.
The performance of the Pakistan stock market remained satisfactory withearnings of 4520 million dollars in the six-month pocket.
Collective investment in the last 6 months was estimated at 1.8 billiondollars.
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Earlier on January 14, The State Bank of Pakistan has slapped penaltiesworth Rs219 million on five commercial banks in December 2019 owing toprocedural violations in areas of customer due diligence (CDD), know yourcustomer (KYC) and Foreign Exchange (FX) operations.
According to a statement issued by a spokesperson of SBP, the centralbank, in addition to penal action, has advised these banks to strengthentheir KYC,CDD and FX operation processes in order to avoid similarviolations in future. The central bank has also urged the banks to launchan internal inquiry on the certain breaches.
The banks have been advised to bring improvements in their systems to avoidrecurrence of such violations in future.
