05292016Sun
Last update: Sun, 29 May 2016 08am

Banking & Finance

Pakistan - Banking & Finance

New model branch of national savings inaugurated SUKKUR: National Savings inaugurated a new model branch in Khairpur here on Tuesday aims at attracting huge investment of the area residents.Due to the new branch of National Savings, people will enjoy attractive returns on their investments and it will contribute to the national economy, said a statement.Regional Director, National Savings Sukkur, Muhammad Ali Thebo along with Assistant Director, Imran Bozdar, Assistant Director (Inspection and Accounts), Mushtaq Ali Thebo, Traders, Lawyers and civil personalities graced the ceremony. Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

HBL granted Chinese licence KARACHI: Pakistan's largest bank, Habib Bank Limited, said on Monday it had won a licence to operate a branch in the Chinese city of Urumqi, the first South Asian bank to be granted such a licence.The opening of the Pakistani bank in Urumqi, the capital of the violence-prone far-western region of Xinjiang, which borders Pakistan, will deepen ties between the two countries that last year signed a $46 billion agreement for infrastructure and energy projects."HBL ...

Pakistan - Banking & Finance

SBP issues regulatory framework for private credit bureaus KARACHI: The State Bank of Pakistan (SBP) has issued Credit Bureaus Regulations and licensing criteria for setting up credit bureaus in private sector in Pakistan vide its notification issued on 15-04-2016.A statement on Friday said that the regulations prescribe regulatory requirements with respect to corporate governance, data security, operational efficiency and consumer grievance handling for credit bureaus.It said that the licensing criteria has been made public to ensure transparency and guidance for prospective applicants about ...

Pakistan - Banking & Finance

Pak forex figure stands at $ 20.834bn KARACHI: Total liquid foreign exchange reserves of the country stand at $ 20.834 billion, said State Bank of Pakistan.According to the SBP's weekly statement, the foreign reserves possessed by State Bank on April 8, amounted $ 16,040.8 million and net foreign reserves with other banks were $ 4,793.5 million. During the week ending April 8, SBP's liquid foreign exchange reserves decreased by $ 37 million to $ 16,041 million, compared to $16,078 million in the ...

Pakistan - Banking & Finance

Workers' remittances rise 4pc to $ 14.2bn in 9 months KARACHI: Overseas Pakistani workers remitted dollars 14157.65 million in the first nine months (July to March) of fiscal year 2015-16, showing a growth of 4.14 % against $ 13594.95 million received during the same period in the preceding year.During March 2016, the inflow of workers' remittances amounted to $ 1468.76 million, which is 3.14% lower than February 2016 and 8.69% lower than March 2015, said a statement issued by State Bank of Pakistan here on ...

Pakistan - Banking & Finance

SBP appoints BOP its agent for collecting receipts, taxes of GoP KARACHI: State Bank of Pakistan (SBP) has appointed Bank of Punjab (BOP) as its agent for collecting provincial receipts and taxes of Government of Punjab (GoP).The signing ceremony held here on Monday, said SBP statement.The appointment is a part of SBP's strategy to facilitate the Federal and Provincial Governments in improving their tax collection system.This would diversify tax payment options for the tax payers, introduce much needed competition in Governments' tax collection business and thus ...

Pakistan - Banking & Finance

Rs1010.841mn revenue collected from motorway toll plazas ISLAMABAD: The revenue of Rs 1010.841 millions was collected from the motorway toll plazas during July to December 2015.The official sources of Communication ministry said that toll plazas auction process was done in a transparent manner and the revenue generated from it was being spent on roads repairing.The National Highway Authority (NHA) has sufficient funds for the repair of highways and utilizing it in proper manner.All the toll plazas are awarded through auction and it ...