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Last update: Sat, 23 Jul 2016 02pm

Banking & Finance

Pakistan - Banking & Finance

Banks directed to ensure ATMs operational during Eid ISLAMABAD: Commercial banks have been directed to ensure availability of Automated Teller Machine (ATM) services round the clock and also that cash is dispensable through machines throughout the Eid Holidays.State Bank has mandated for all branches of all banks to remain open on Saturdays to meet customers banking needs.Not to mention, not all banks operate on Saturdays, however, with this latest directive all commercial banks are asked to operate as usual during both Saturdays of the July.SBP, being fully cognizant of banking needs of general public, has taken measures for smooth availability of banking services during Eid-ul-Fitr holidays.State Bank, while coming to ensure facilitation of customers and businesses, directed the banks to operate at least two days during these holidays and to make sure that ATM machines are dispensing cash properly during holidays.Banks are also asked to make public the contact numbers of focal person for quick redressal of all ...

Pakistan - Banking & Finance

Commercial banks to remain open on Saturdays July 2 and 9: SBP KARACHI: SBP, being fully cognizant of the banking needs of general public, has taken the following measures for smooth availability of banking services during Eid-ul-Fitr holidays.All branches of commercial banks will remain open on 2nd and 9th July, 2016 (Saturdays). Commercial banks shall strictly ensure availability of ATM services round the clock. For early replenishment of cash at ATMs, banks shall make proper arrangements of currency stock at the respective ATM feeding branches. Commercial banks ...

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 ...

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 ...