Banking
SBP introduces new measures to facilitate IT Exporters and Freelancers
Islamabad, October 23, 2023 :In order to facilitate the IT exporters to boost the exports of IT and IT enabled services, SBP has increased the permissible retention limit of IT exporters from 35% to 50% of their export proceeds in the Exporters’ Specialized Foreign Currency Accounts (ESFCAs). Further, the usage of the balances available in…
Pilot launch of NBP Digital Account
Karachi, October 13, 2023: The National Bank of Pakistan (NBP) is pleased to announce the Pilot launch of its Digital Account. The new service, once launched will enable account opening digitally for all customers. People from across the country will be able to open an account with NBP, anytime, from anywhere, just by downloading the…
Bank deposits are perfectly safe, SBP clarifies
Karachi, October 5, 2023: The State Bank of Pakistan (SBP) on Wednesday said that deposits of all banking are perfectly safe. Certain sections of the media, on the basis of a statement given by Deputy Governor of State Bank of Pakistan(SBP), Dr. Inayat Hussain during the meeting of Senate Standing Committee on Finance and Revenue,…
Rizwan Ata takes charge of President BankIslami
Karachi October 02, 2023: BankIslami, Pakistan’s leading Islamic financial institution, has appointed Rizwan Ata as its new President & CEO. Rizwan Ata has brought with him a wealth of experience and a profound understanding of the Islamic banking industry to his new role. Having been associated with BankIslami for the past five years in the…
A multifaceted strategy suggested to save FX reserves
Lahore 1st Oct, 2023: Rashid Ashraf, the CEO of ACE Money Transfer, has suggested a multifaceted strategy to save the precious foreign exchange reserves of the country. The State Bank of Pakistan last week reported that the nation’s overall foreign reserves amounted to $13,079.1 million. Pakistan’s foreign reserve levels have experienced a downward trend in…