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Banking & Finance


SBP directs banks to install advanced machines to detect money KARACHI: State Bank of Pakistan has imported advanced machines capable of examining and sorting fake and different amount of currency notes and directed all the banks to install such machines in their every branch by 2017.Chief Spokesperson SBP Abid Qamar said the machines were imported to recognise fake currency notes and all the banks had been directed to buy the same modern technological machines for their use.This should be noted that the Chairman Senate Standing Committee on Finance Saleem Mandviwalla had directed SBP to install latest technology machines to examine currency notes by Jan 2017 in all the banks' branches.‘Risks of scam do exist, despite having big mechanism of filtering any chance of fraud by the banks,’ he said adding that neither he knew any bank's involvement in circulating fake money nor he had received any such complaint through anybody.‘I can't say what fake currency producers could do. How do ...

Pakistan's Liquid Foreign Reserves position KARACHI: The total liquid foreign reserves held by the country stood at $18,349.1 million on September 25, 2015, a statement issued by the State Bank of Pakistan (SBP) said here on Thursday.The break-up of the foreign reserves position is as under. I) Foreign reserves held by the SBP: $13,408.2 million II) Net foreign reserves held by banks: $ 4,940.9 million III) Total liquid foreign reserves:$ 18,349.1 millionDuring the week ending September 25, SBP's liquid FX ...
Pakistan's Liquid Foreign Reserves rise to over US $ 18.5 billion ISLAMABAD: The total liquid foreign reserves held by the country stood at US$18,500.8 million on September 18, 2015.Giving the break-up of the foreign reserves position a statement of the Central Bank issued here Tuesday said that Foreign reserves held by the State Bank of Pakistan stood at US$ 13,496.2 million, while Net foreign reserves held by banks were US$ 5,004.6 million.The SBP said that during the week ending September 18, 2015, SBP's Liquid FX Reserves ...
SBP declares 6th coupon rate of 3-year Sukuk KARACHI: State Bank of Pakistan (SBP) on Wednesday announced 6th rental coupon rate of 3-year Government of Pakistan Ijara Sukuk (GIS-14).The 6th rental coupon rate per annum is 6.1523 percent, which will be payable on March 28, 2016, said SBP statement. Copyright APP (Associated Press of Pakistan), 2015 ...
SBP mops up Rs 21bn from market KARACHI: State Bank of Pakistan (SBP) on Wednesday mopped up Rs 21 billion from the open market for five days through its open market operation (OMO).The rate of return accepted is 5.88 percent per annum, said SBP statement.Copyright APP (Associated Press of Pakistan), 2015 ...
Performance of the banking sector continued to improve: SBP KARACHI: The Quarterly Performance Review of the Banking Sector for the quarter ending 30th June, 2015 released by State Bank of Pakistan today highlighted that the profit after tax of the banking sector surged by 52 percent YoY on the back of both interest and non-interest income.Accordingly, Return on Assets increased to 2.7 percent in Jun-15 from 2.1 percent in Jun-14. Capital Adequacy Ratio remained strong at 17.2 percent well above the local requirement of ...
E&T department collects Rs286.3mn property tax in 2 months FAISALABAD: The district excise and taxation department has achieved 12 percent of total tax recovery target and collected 286.3 millions property tax during first two months of current fiscal year.According to official sources,the district excise and taxation department Faisalabad was assigned total tax recovery target of Rs1.881 billion of which Rs218.3 million have been collected.The total annual recovery target for all the four districts of the Faisalabad regions had been fixed Rs2.322 billion by Punjab ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln