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Depositors of former KASB Bank start transactions with Bank Islami KARACHI: State Bank of Pakistan informed that the amalgamation of the defunct KASB Bank into Bank Islami Pakistan Ltd has been implemented smoothly.As a result all the depositors which are over 150000 in number and have Rs 57 billion in deposits are free to operate their accounts.Many of them have already started operating their accounts and more than 1200 employees have continued their jobs, a statement of SBP said here on Sunday.All the branches of the defunct bank, now taken over by BankIslami, remained open for business on Friday, while the branches at major business centres also opened on Saturday. The customers freely operated their accounts as per their convenience. So far, no complaint of any sort has been reported and, in any such case, the customers may contact their respective branches or call centre of BankIslami.Regarding some apprehensions about the amalgamation of a conventional bank into an Islamic bank, ...

Foreign reserves stand at $ 17,690.1 million KARACHI: The total liquid foreign reserves held by the country stood at $17,690.1 million on May 1, 2015, a statement issued by State Bank of Pakistan (SBP) said here on Thursday.The break-up of the foreign reserves position is as under: 1) Foreign reserves held by the SBP: $12,517.3 million 2) Net foreign reserves held by banks: $5,172.8 million 3 Total liquid foreign reserves: $17,690.1 millionDuring the week, SBP's Liquid FX Reserves decreased by $48 million ...
Scheme of amalgamation of KASB Bank approved by Federal Govt: SBP KARACHI: State Bank of Pakistan (SBP) on Thursday informed the depositors of KASB Bank Limited (‘’the bank'') that scheme of amalgamation of the bank has been approved by the Federal Government.In terms of the amalgamation scheme, KASB Bank Limited has been merged with and into Bank lslami Pakistan Limited, a statement of State Bank said here.Accordingly, the moratorium placed on former KASB Bank Limited has been lifted with immediate effect. The depositors of the former ...
SBP injects Rs 715.9bn KARACHI: State Bank of Pakistan (SBP) on Monday injected Rs 715.9 billion into market for four days during its open market operation.The rate of return is 7.51 percent per annum, said a SBP statement.Copyright APP (Associated Press of Pakistan), 2015 ...
KASB Bank being merged with Bank Islami: SBP KARACHI: State Bank of Pakistan (SBP), in response to rumours, here Thursday declared that KASB Bank is being merged with BankIslami; with assurance of security of depositors' interests."Under the current circumstances, merger with BankIslami remains a viable option wherein KASB Bank depositors' interests would be safeguarded and its problem would be resolved on a sustainable basis," said SBP's Chief Spokesman Abid Qamar during a press briefing to clarify SBP's position on KASB Bank related issues. ...
Pakistan's Liquid Foreign Reserves cross $ 17.717 billion ISLAMABAD: Pakistan's Liquid Foreign Reserves crossed US $ 17.717 billion on April 24,2015, said a statement issued by the State Bank of Pakistan on Thursday. It said that foreign reserves held by the State Bank of Pakistan stood at US$ 12,565.1 million, while net foreign reserves held by banks were US$ 5,152.5 million on April 24.The SBP said that during the week ending April 24, 2015, SBP's Liquid FX Reserves increased by US$201 million to ...
SBP mops up Rs163.3bn KARACHI: State Bank of Pakistan (SBP) on Thursday mopped up Rs. 163.3 billion for four days through its open market operation (OMO).The rate of return is 7.48 percent, said an SBP statement. Copyright APP (Associated Press of Pakistan), 2015 ...


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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln