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Banking & Finance


SBP sees transformation of cash processing business to automation in next five years ISLAMABAD: Acting Governor State Bank of Pakistan Saeed Ahmad has said that the SBP sees total transformation of cash processing business from manual to automation in next five years and thus would like to see commercial banks aligning their plans with State Bank in this direction."Without the joint action the desired results to improve the quality of currency notes in circulation will not be achieved," he said.He was addressing participants of Conference on Currency Management: Strategies for the Future, organized by State Bank of Pakistan at a local hotel in Lahore today.The conference was also attended by the leading international experts from Switzerland, Malaysia, and Sri Lanka besides renowned local experts, a statement of the Central Bank issued here said.The conference covered important topics like Banknote Printing in Pakistan, Currency Management Challenges, Global Trends and Developments in Security Ink and Ink-Based Security Features, Evolution of Banknote Security Features in Pakistan, ...

Foreign reserves decreased by US$ 82 million KARACHI: The total foreign reserves held by the country stood at US$ 15,063.9 million on January 23, 2015, said a press release of State Bank of Pakistan (SBP) here on Thursday.The break-up of the foreign reserves position is as under:(1) Foreign reserves held by the SBP US$ 10,248.7 million.(2) Net foreign reserves held by banks US$ 4,815.2 million.(3) Total liquid foreign reserves US$ 15,063.9 million.During the week ending 23 January 2015, SBP's liquid FX reserves ...
SBP to issue Rs 20 commemorative coin on Jan 31 ISLAMABAD: The State Bank of Pakistan will issue Rs 20 commemorative coin on January 31 to mark "Pakistan-China Year of Friendly Exchange 2015", in pursuance of the Federal Government Notification dated January 8, 2015.The coin weighs 10 grams with 75% copper and 25% nickel. Its shape is round with serration on the edge and a diameter of 27.5mm, said an Ministry of Finance press release issued here Thursday.The waxing crescent moon and a five pointed ...
SBP revises Microfinance Credit Guarantee Facility guidelines ISLAMABAD: The State Bank of Pakistan (SBP) has issued revised Microfinance Credit Guarantee Facility (MCGF) Guidelines offering higher risk coverage of up to 60% to Commercial Banks/ Development Finance Institutions (DFIs) for lending to smaller Microfinance Banks (MFBs)/ Microfinance institutions (MFIs).The facility is expected to graduate smaller MFBs/ MFIs to avail credit lines from commercial banks/ DFIs for onward lending to microfinance clients, says a statement issued here Wednesday.It may be recalled that the Microfinance ...
CDA earns Rs485mn during fiscal year 2014 ISLAMABAD: Capital Development Authority's (CDA) Directorate of Municipal Administration has earned Rs485 million revenues during the fiscal year 2014 which is almost double as compare to previous year's corresponding period.It is expected that CDA would achieve a target of Rs600 million at the end of the current financial year.Talking to APP, Director General of DMA Hamza Shafqaat said on Wednesday that the authority has generated this revenue through different modes like Melody Food Park, Munal ...
SBP issues guiding principles on fairness of service charges KARACHI: State Bank of Pakistan (SBP) has issued guiding principles on fairness of service charges levied by banks.The instructions set forth nine principles which will apply on service charges effective from 1st July, 2015, said SBP statement here on Tuesday. It is imperative that fairness and transparency in determining charges for various products and services provided by the banks will enhance confidence of customers in the banking industry.State Bank, in guiding principles, clarifies that the ...
SBP Governor asks banks to ensure operational efficiency KARACHI: Governor State Bank of Pakistan (SBP) Ashraf Mahmood Wathra has stressed upon the banks to focus on private sector lending and deposit mobilisation.In this context he said that the average spread of all banks continues to remain high and should be reasonably rationalised."SBP shall review the position by the end of June 2015 and may take regulatory measures to lower the spread," he said while addressing a meeting of Presidents/CEOs of all commercial Banks ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln