Karachi, October 24, 2019: Realizing difficulties being faced by overseas Pakistan in operating their bank accounts due to non-biometric verification of their accounts, State Bank of Pakistan has issued detailed instructions on the alternate arrangement to facilitate their biometric verification. It may be mentioned here that as per alternate arrangement, overseas Pakistanis may approach their…
Karachi, September 19, 2019: A delegation of the International Monetary Fund (IMF) led by the Director Middle East and Central Asia Department, Mr. Jihad Azour, called on the Governor State Bank of Pakistan Dr. Reza Baqir today in Karachi. He was accompanied by the IMF Mission Chief to Pakistan, Mr. Ernesto Ramirez Rigo; Resident Representative…
Karachi, September 13, 2019: While most of the analysts are expecting status quo in upcoming monetary policy, analysts at Arif Habib Limited are seeing some 24 basis points cut in interest rate. The State Bank of Pakistan (SBP) is scheduled to announce its monetary policy on September 16, 2019. “We expect the central bank to…
Islamabad, August 9, 2019: Some four leading Pakistani banks have faced a cumulative fine of Rs 184.7 million for violation of State Bank of Pakistan’s (SBP) rules and regulations. As a part of steps taken to overcome from Grey List of Financial Action Task Force (FATF), recently the Pakistan’s central bank has announced that it…
Karachi, August 6, 2019: Enforcement actions are an integral part of regulatory regime which involves imposition of monetary penalties and other actions against institutions and individuals for violations of laws, rules, regulations, guidelines or directives issued by SBP from time to time. In order to bring more transparency and strengthen market discipline, SBP has decided…