Banking
Banks Directed to Enhance CCTV Security Measures by 2025
KARACHI, October 10, 2024: The Central Bank of Pakistan has announced to revision of the installation guidelines for Close Circuit Television (CCTV) cameras at bank branches. The updates follow extensive feedback from stakeholders and aim to standardize security protocols in banks and microfinance banks (MFBs). Revised Guidelines are as follows: The new directives, outlined in…
Bank Alfalah partners with cancer foundation hospital to support breast cancer patients
Karachi, October 9, 2024: Bank Alfalah has partnered with Cancer Foundation Hospital to provide life-saving treatment to women battling breast cancer. As part of this collaboration, Bank Alfalah and Roche Pakistan have contributed a total of PKR 10.75 million towards medication expenses and free-of-cost treatment for five breast cancer patients, ensuring they receive comprehensive treatment….
SBP extends financing facility up to Rs. 500 million for SMEs
KARACHI, October 9 2024: The State Bank of Pakistan has extended the financing limit for Small and Medium Enterprises for up to Rs. 500 million from a single bank/ DFI or all banks & DFIs. However, banks & DFIs are allowed to deduct the liquid assets (encashment value of bank deposits, certificates of deposit/ investment,…
SBP announce extension for encashment of prize bonds upto Dec 2024
KARACHI: October 8 2024, The government of Pakistan has extended the last date for encashment/replacement/conversion of Rs. 40,000/-, Rs. 25,000/-, Rs. 15,000/- & Rs. 7,500/- denomination National Prize Bonds (bearer) up to December 31, 2024. Accordingly, SBP has advised all branches to accept requests for encashment/conversion/redemption of cited denominations from the general public till December…
Pakistan received highest ever $8.8 bln remittances in first quarter of FY25
KARACHI: October 8, 2024: Pakistan’s worker remittances in September 2024 totalled US$2.85bn, up 29% year over year and the highest amount ever received in September. In 1QFY25, remittances increased by 39% year over year to US$8.8bn. These stronger inflows will help Pakistan maintain PKR stability and contain the current account deficit. Highest-ever quarterly remittances received…