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SBP plans to revisit interest rate corridor KARACHI: State Bank of Pakistan (SBP) has planned to revisit its interest rate corridor to further strengthen the transmission of monetary policy and have the desired effect on term structure of interest rate,SBP statement here on Tuesday said that a main feature of this planned improvement is the introduction of 'SBP Target Rate' for the money market overnight repo rate.This rate will be in addition to SBP Reverse Repo Rate (ceiling rate) and the SBP Repo Rate (floor rate) of the corridor. Moreover, this rate will be specified within the corridor ; lower than ceiling rate and higher than floor rate. In this context, a proposal will be submitted to the Advisory Committee on Monetary Policy (ACMP) in its March 2015 meeting for review and its recommendations to the SBP Board.Later on, the SBP Board of Directors will make a final decision about needed improvements in interest rate corridor in ...

SBP injects Rs722.55bn into market KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs. 722.55 billion into market for seven days through its open market operation (OMO). The rate of return accepted is 8 percent, said SBP release.Copyright APP (Associated Press of Pakistan), 2015 ...
BOK opens Rast Islamic branch at Ghari Qamardin PESHAWAR: The Bank of Khyber (BOK) opened Rast Islamic Branch at Ghari Qamardin, Ring Road, here on Thursday. Khyber Pakhtunkhwa Minister for Finance, Muzaffar Said advocate was chief guest on the occasion, who inaugurated the branch. Besides, Secretary Finance, Khyber Pakhtunkhwa, Syed Said Badshah Bokhari, Managing Director, BOK, Shams-ul-Qayyum, JI activists, Hakeem Abdul Waheed and Sabir Hussain Awan also attended the ceremony. Addressing the inaugural ceremony, the Khyber Pakhtunkhwa Minister for Finance, Muzaffar Said advocate ...
Liquid foreign reserves increase by $777mn to $ 11,194mn KARACHI: The total liquid foreign reserves held by the country stood at US$16,036.7 million on Feb 13, 2015, said a State Bank of Pakistan (SBP) press release issued here on Thursday.The break-up of the foreign reserves position is as under. i) Foreign reserves held by the State Bank of Pakistan: US$ 11,194.2 million, (ii) Net foreign reserves held by banks: US$ 4,842.5 million, (iii) Total liquid foreign reserves: US$ 16,036.7 million.During the week ending Feb ...
SBP extends FICF proposal submission deadline up to March 5 KARACHI: State Bank of Pakistan (SBP) has extended the deadline up to March 5, 2015 for submission of proposals under Financial Innovation Challenge Fund (FICF) 3rd round on "promoting excellence in Islamic finance."Earlier, the deadline for submission of quality proposals by the potential applicants was February 20, 2015, said SBP press release here on Wednesday.The 3rd challenge round was unveiled on January 9, 2015 in Islamabad. FICF is a component of the larger financial inclusion ...
SBP clarification on inflation target KARACHI: State Bank of Pakistan (SBP) Wednesday issued clarification on revising inflation target as reported in some media sections referring to SBP's first quarterly report of 2014-15 titled "State of Pakistan's Economy" released on Tuesday.A SBP press release said it has been erroneously reported that the SBP revised the inflation target to 4.5 to 5.5 percent. SBP neither fixes the inflation target nor revises and it is rather set by the Federal Government and is ...
HBL & Monet signs agreement with to process card on delivery payments through mobile point-of-sale KARACHI: Habib Bank Limited (HBL), Pakistan’s largest bank, has enabled, Pakistan’s largest online store to accept credit and debit cards while delivering goods to customers’ door steps. This has been achieved through Monet’s breakthrough Swipe2Pay mPOS (Mobile POS) service which has been recently launched in partnership with HBL. The mPOS solution enables merchants to accept payments through debit and credit cards while delivering goods to customer door steps. This replaces the existing mode of ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln