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…
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,…
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…
Karachi, Septmeber 27, 2023: Digital transactions continued growth trajectory owing to the increased consumers’ preference for digital channels of mobile and internet banking for meeting their financial needs. Overall, mobile and internet banking transactions witnessed an annual growth of 57 percent by volume and 81 percent by value during the last fiscal year (FY23). The…
KARACHI, September 18, 2023: The SBP Banking Services Corporation (SBP BSC) has launched the Agriculture Finance Literacy Program (AFLP) through a series of five workshops conducted nationwide. This flagship initiative, as recommended by the Agricultural Credit Advisory Committee, seeks to raise awareness among the farming community regarding available financial schemes and government-driven initiatives. AFLP stands…