KARACHI, November 19 2024: The Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, stressed the critical importance of empowering women entrepreneurs, highlighting that they currently account for less than 10% of total borrowers and hold only 26% of bank accounts. The SBP organized Women Entrepreneurship Day on November 19, 2024, in Karachi, reaffirming…
KARACHI, November 19 2024: In October, Pakistan’s current account balance recorded a surplus of $349 million, bringing the four-month figure for FY25 to a modest $218 million. This positive trend, while encouraging, comes against the backdrop of a fragile economy grappling with subdued growth and constrained international financing options. Exports and Remittances Offer a Buffer…
KARACHI, November 08 2024: The Governor of the State Bank of Pakistan (SBP) emphasized the need to substantially increase credit allocation to projects that enhance climate resilience and promote environmentally sustainable growth. “It is essential that we leverage our financial sector’s potential to align with the global shift toward sustainability, thereby contributing to both our…
KARACHI, November 05 2024: In a significant move to boost the digital financial ecosystem in Pakistan, the State Bank of Pakistan (SBP) has granted in-principle approval to M/s Toko Lab Private Limited and M/s Accept Technologies Private Limited (trading as PayMob) for establishing an Electronic Money Institution (EMI) and a Payment System Operator (PSO)/Payment Service…
KARACHI, November 05 2024: The President of the Hub Chamber of Commerce and Industry, Mr. Yakoob H. Karim, has expressed his approval of the State Bank of Pakistan’s recent decision to reduce the interest rate by 2.5% (250 basis points). However, he emphasized that while this move is a step in the right direction, it…