The State Bank of Pakistan (SBP) said Monday ahead of holy month of Ramazan it shall remain closed for public dealing on 1st of Ramazan (April 14), 1442 A.H. The first day of the holy month shall be observed as “Bank Holiday” for the purpose of deduction of Zakat, said the
Tag: SBP
SBP Considering Issuing Digital Currency to Boost Financial Inclusion
The State Bank of Pakistan (SBP) is considering issuing digital currency to boost financial inclusion and reduce money laundering in the economy, the central bank’s governor was quoted as saying by The News. "We are studying that very carefully. We think that some countries like China are already showing the way,” SBP
SBP, NBP to collect Taxes Till 6pm on March 31
The Banking Services Corporation of the State Bank and National Bank of Pakistan will observe extended banking hours till 6pm on March 31, the central bank said Tuesday. The decision has been taken to facilitate the collection of government receipts, duties or taxes, the SBP said in a statement. The extended banking
SBP, PCB Agree on 5 Star Hotel in Lahore
Director General Sports Board Punjab (SBP) Adnan Arshad Aulakh presided over a meeting at National Hockey Stadium here on Thursday and reached an agreement on building a 5-Star hotel at Nishtar Park Sports Complex. Pakistan Cricket Board’s senior General Manager Admin Col (retd) Ashfaq Ahmed, Consultant Abdul Ghafoor Bhatti, Director
SBP Issues Regulations for Payment Card Security
State Bank of Pakistan (SBP) on Friday issued regulations for payment card security to curtail the risk of card-skimmig. Referring to PSD Circular No. 05 of 2016, the SBP said that in light of the progress made by industry on implementation of central bank’s instructions issued vide the afore-mentioned circular, it
SBP Allows Housing Loan on Personal Guarantee
The State Bank of Pakistan (SBP) on Monday eased condition for availing loan for housing loan by allowing personal guarantee. The SBP said that currently applicants face difficulties in obtaining housing finance, especially for low cost housing, as banks are reluctant to take the risk of the house not being completed
SBP Clears it Did not Direct Banks to Charge Fee for Balance Inquiry Through ATMs
The State Bank of Pakistan distanced itself from the ATM receipt fees being charged by banks from customers recently. Multiple banks in the country have started charging their customers for seeking a receipt following cash withdrawals or inquiring about the balance, when using the ATM. According to The Express Tribune, the regulator said
Banks Introduce ATM Receipt Fee
The cost of withdrawing money from ATMs has increased as a few banks in the country have started charging an unannounced fee to users who choose to get printed receipts from the machine following cash withdrawal. The move, which is likely to help banks improve earnings and cut costs, caught customers
SBP to Open Branch Office in Gilgit
The State Bank of Pakistan (SBP) is going to establish its branch office in Gilgit-Baltistan (GB) to regularise the government transactions and monitor financing. According to details, GB Chief Minister Muhammad Khalid Khursheed and State Bank of Pakistan (SBP) Governor Dr Raza Baqir during a meeting in the federal capital have
SBP Maintains Policy Rate at 7%, Reza Baqir says MPC Estimates Inflation at 7-9%
The State Bank of Pakistan (SBP) has decided to maintain the policy rate at 7%, Governor Dr Reza Baqir announced on Thursday, adding that the Monetary Policy Committee (MPC) has forecast the inflation to remain in the 7-9% range. Addressing a press conference here in Karachi after the MPC's meeting, Dr Reza Baqir