Islamabad, State Bank of Pakistan, through its subsidiary SBP Banking Services Corporation (SBP BSC), has relaunched the SMS service for issuance of fresh currency notes to the general public. The fresh currency notes will be available from designated commercial bank branches called “e- branches” and the sixteen field offices of SBP BSC. The booking of…
Karachi, May 16, 2019: Pak Rupee on Thursday further devalued against the US dollar due to free float mechanism policy as demanded by International Monetary Fund (IMF). The value of the US dollar against the rupee touched all-time high to approximately Rs. 148 in the interbank market. During the intraday trading the value of Pakistan…
Karachi, May 5, 2019: Reza Baqir has assumed the charge of Governor State Bank of Pakistan after President of Pakistan appointed him as Governor State Bank of Pakistan for a period of three years in pursuance of Section 10(3) of the State Bank of Pakistan Act 1956. Reza Baqir has eighteen years of experience with…
Karachi, April 25, 2019: Non-Resident Pakistanis (NRPs) are facing serious issues due to present State Bank of Pakistan (SBP) regulations when they open or operate bank accounts in Pakistan. Bankers said that SBP regulations are discouraging NRPs to open bank accounts and remit funds to Pakistan. There are some four major restrictions on NRP accounts…