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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,…
NBP partners with huawei to establish national cloud data center
Karachi: October 9, 2024. The National Bank of Pakistan has signed a MoU with Huawei Technologies Pakistan (PVT) to develop a state-of-the-art National Cloud Data Center. The MoU was formalized during the Huawei Connect 2024 Global Conference. This collaboration aims to strengthen NBP’s digital infrastructure by deploying cutting-edge cloud services in a Tier-3 certified data…
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…
The premier textile and leather event in Pakistan
KARACHI: October 08, 2024: The TEXPO 2024, the flagship event for the Textile and Leather industry of Pakistan, is set to take place from October 23rd to 25th, 2024, at the Expo Centre Karachi. This highly anticipated exhibition will showcase the country’s vibrant textile and leather sectors, bringing together over 250 leading companies from across…