KARACHI – The State Bank of Pakistan (SBP) has digitised the refinance process to facilitate banks for entertaining loan applications of exporters in more efficient and expeditious way resulting in quick disbursements. The SBP issued a circular on Wednesday and said, “In a major step ...

ISLAMABAD – The Federal Investigation Agency (FIA) has seized hundreds of bank accounts and cards being used for cryptocurrency trading, it emerged on Friday. The agency took action after a request was made by the Cyber Crime Reporting Center (CCRC) in Islamabad. Reports said that transactions ...

*KARACHI: The foreign exchange reserves held by the central bank fell 1.64 % during the week ending on December 24, according to the data released by the State Bank of Pakistan (SBP) on Thursday.* Sharing a break-up of the foreign reserves position, the central bank said that foreign currency ...

Karachi: US dollar on Thursday decreased by 73 paisas against Pakistani rupee in the interbank market. It is pertinent to mention here that Pakistani rupee had staggered to all-time low of Rs178.24 on December 29. The rupee appreciated by 0.41 per cent against dollar in the interbank market, ...

ISLAMABAD – Federal Minister for Finance Shaukat Tarin on Thursday tabled the supplementary finance bill, which is being termed as a mini-budget by the Opposition, in the National Assembly in a bid to revive the International Monetary Fund’s (IMF) loan programme. The Opposition massively ...

KARACHI – The State Bank of Pakistan (SBP) Tuesday increased the policy rate by 100 basis points to 9.75 percent to counter inflationary pressures and ensure that growth remains sustainable. “Since the last meeting on 19thNovember 2021, indicators of activity have remained robust while ...

A deposit agreement between the Kingdom of Saudi Arabia, represented by the Saudi Fund for Development (SFD), and the Government of the Islamic Republic of Pakistan, represented by the State Bank of Pakistan (SBP), has been signed today by the Chief Executive Officer of SFD, H.E. Sultan ...

ISLAMABAD – Minister Information and Broadcasting Fawad Chaudhry Thursday announced that all legal arrangements have been finalised for $3 billion deposits from Saudi Arabia and the amount would be released during the ongoing week. Making the announcement on Twitter, the information minister ...

Karachi: The US dollar has depreciated by 6 paisa against the Pakistani rupee in the interbank, on Thursday. According to the data released by the State Bank of Pakistan, the dollar has depreciated by 6 paisa and is trading at Rs174.98 in the interbank market against Rs175.04 recorded the earlier ...

Pakistan’s recent policy adjustments, demonstrated access to external financing, and its commitment to a market-determined exchange rate has offset rising external risks from a widening current-account deficit, according to Fitch Ratings. The rating agency stated in the report ‘Reforms and ...