06262016Sun
Last update: Sun, 26 Jun 2016 01pm

Banking & Finance

Pakistan - Banking & Finance

SBP issues guidelines on prevention against cyber attacks KARACHI: State Bank of Pakistan's cyber security instructions on Thursday issued guidelines in the areas of risk ownership and management responsibility; periodic evaluation and monitoring of cyber security controls; regular independent assessment and tests, and industry collaboration and contingency planning.The new instructions require the Board of Directors (BoD) of the institutions to regularly evaluate the adequacy of cyber security systems and action plans with regard to emerging cyber threats, in a statement issued here by SBP.The senior management is required to ensure that an organizational plan of action for cyber security management exists in each institution and is regularly reviewed and updated for implementation.It may be noted here that cyber threats have become a global phenomenon and are continually growing in sophistication and impact, despite the advances in cyber-security technologies and practices.The SBP has always proactively strived to provide an enabling regulatory framework in order to cope with new threats. ...

Pakistan - Banking & Finance

Pakistan's Liquid Foreign reserves reached over US$22.770bn ISLAMABAD: The total liquid foreign reserves held by the country stood at US$21,770.5 million on June 17,2016.Giving the break-up of the foreign reserves position a statement of the Central Bank issued here Thursday said that Foreign reserves held by the State Bank of Pakistan stood at US$ 16,815.5 million while Net foreign reserves held by commercial bankswere US$ 4,955.0 million on June 17.During the week ending June 17,2016, SBP's Liquid FX Reserves increased by US$ ...

Pakistan - Banking & Finance

Govt fixes agricultural credit for 2016-17 at Rs 680 billion ISLAMABAD: The government has fixed a target of agricultural credit for 2016-17 at Rs 680 billion in the 11th Five Year Plan.Keeping in view the enthusiasm of the banks, push by the State Bank of Pakistan and support by the Government, it is expected that this target would be achieved, official sources told APP.The investments are being made for water resources development to ensure the needed additional water supply.Public sector was investing on conservation and ...

Pakistan - Banking & Finance

23 branches designated for fresh currency notes FAISALABAD: As many as 23 brunches of commercial banks have been designated in district Faisalabad for the issuance of fresh currency notes to general public.According to a spokesman of the State Bank of Pakistan (SBP), the people can get fresh currency notes from SBP M.A. Jinnah Road near GTS Chowk, MCB Bank Quaid-e-Azam Road Branch Tandlianwala, Askari Bank Jhumra Road Branch Khurarianwala, HBL Mamonkanjan Branch Tandlianwala, Habib Metro Bank Limited Sargodha Road Branch, Soneri Bank ...

Pakistan - Banking & Finance

Branchless banking shows mix growth trend in three months ISLAMABAD: The growth indicators of branchless banking sector in the country have showed that the number of transactions marginally grew to 101.6 million in second quarter of this year as compared to 100.8 million in previous quarter.The number of transactions has registered a growth of 0.8 per cent while value of transactions for branchless banking in fact showed decline from Rs 526 billion to Rs 486 billion during the quarter under review.The average size of ...

Pakistan - Banking & Finance

SBP issues Framework for Branchless Banking KARACHI: State Bank of Pakistan (SBP) has issued the Framework for Branchless Banking Agent Acquisition and Management for the banks and microfinance banks.This Framework is complementary to Branchless Banking (BB) Regulations already in place, a statement of SBP said here on Tuesday.According to this Framework, the Board of Directors of banks would be responsible for providing the strategic direction and an oversight of branchless banking agent acquisition and management while senior management will institute necessary ...

Pakistan - Banking & Finance

SBP issues framework for branchless banking agent acquisition and management ISLAMABAD: The State Bank of Pakistan (SBP) has issued the Framework for Branchless Banking Agent Acquisition and Management for the banks and microfinance banks."This Framework is complementary to Branchless Banking (BB) Regulations already in place", said a statement issued by the Central Bank here on Tuesday.According to this Framework, the Board of Directors of banks would be responsible for providing the strategic direction and an oversight of branchless banking agent acquisition and management while senior ...