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Creation of special unit in State Bank for complaints against banks KARACHI: State Bank of Pakistan (SBP) has been receiving complaints from various quarters regarding discrimination by banks on the basis of high-risk category of customers including their status as politically exposed persons (PEPs).Special Unit in Consumer Protection Department (CPD) of SBP has been created for handling grievances against such discriminatory practices. This Unit will monitor and handle the complaints which remain unresolved by banks' internal procedure, SBP statement said on Thursday.SBP's instructions issued in circular dated August 19, 2008 already prohibit discrimination on the basis of specific occupation, trade, region, gender and other factors while providing financial services in normal course of business.SBP has, therefore, reiterated that banks/DFIs should not discriminate any customer merely on the ground that he/she belongs to a particular category of customers. State Bank has also advised all banks/DFIs to put in place an internal mechanism for speedy handling of such complaints and nominate senior officers ...


SBP injects Rs 133.3bn into market KARACHI: State Bank of Pakistan (SBP) on Thursday injected Rs 133.3 billion into market for eight days through its open market operation (OMO).The rate of return is 6.53 percent per annum, said SBP statement.Copyright APP (Associated Press of Pakistan), 2015

CM orders crackdown on sale of diseased meat LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif has directed that indiscriminate crackdown on elements involved in sale of substandard, unhygienic, dead and Haram meat should be continued throughout the province.He said that the heinous trade of unhygienic, diseased, dead and Haram meat will not be tolerated and the elements involved deserve no leniency.He said the collusion between the mafias involved in the sale of dead and Haram meat and adulterated and substandard items will be ...

SC suspends orders for payment of judicial allowance LAHORE: A two-member bench of the Supreme Court on Thursday suspended orders for payment of judicial allowance to courts employees.The bench comprising Justice Ijaz Ahmad Chaudhry and Justice Umar Ata Bandial passed the orders while hearing a petition filed by the Punjab government against Lahore High Court orders for the provision of judicial allowance to the courts employees. The bench heard the matter at Supreme Court Lahore Registry.During the hearing, Additional Advocate General Punjab Shan ...

SC stays proposed housing society on NARC land ISLAMABAD: The Supreme Court Thursday stayed the proposed housing society on National Agricultural Research Centre (NARC) land and directed the respondents to submit their replies within 10 days.The three-member SC bench headed by Chief Jsutice Jawwad S. Khawaja comprising Justice Dost Muhammad Khan and Justice Qazi Faez Isa heard the case filed by Altaf Sheikh against the proposed housing society on the NARC land.During the course of proceedings, petitioner Altaf Sheikh informed the court that ...

SBP injects Rs133.3bn into market KARACHI: State Bank of Pakistan (SBP) on Thursday injected Rs. 133.3 billion into market for eight days through its open market operation (OMO).The rate of return is 6.53 percent per annum, said SBP statement. Copyright APP (Associated Press of Pakistan), 2015

OEC sends over 1000 workers to South Korea in an year ISLAMABAD: Overseas Employment Corporation (OEC) has sent around 1000 workers to South Korea in an year and the process is still continuing.According to official sources, Pakistani workers in South Korea are earning a handsome salary per month.He said that Pakistan has also asked the Human Resource Development Department of South Korea to give an opportunity to our labour in the sector like fisheries, agriculture and construction.Health Ministry of Saudi Arabia recently selected 126 medical doctors ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln