Banking & Finance
Friday, 01 March 2013 17:39
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ISLAMABAD: Chairman of the Apna Microfinance Bank Limited (AMBL) Mian Shahid here on Friday said that Small and Medium Enterprises (SMEs) will be given preference in provision of credit.He said that he will his try best to ensure uninterrupted flow of finances to the critical SME sector without which economy cannot be revived.Talking to a delegation of female entrepreneurs led by Farida Rashid, President Islamabad Women Chamber of Commerce and Industry (IWCCI), he said the role of microfinance banks remains crucial to ensure unobstructed flow of financial resources to the SME sector which is engine of economic growth for country.SME sector represents over 90 per cent of all enterprises, employs some 75 per cent of the non-agricultural workforce and contributes 30 per cent to the GDP, adding that it plays important role in poverty alleviation and equitable resource distribution.Speaking on the occasion, Farida Rashid said that SMEs' growth potential for ...
ISLAMABAD: The total liquid foreign reserves held by the country stood at $13,185.0 million on February 22, 2013.
Giving the break-up of the foreign reserves position, a statement of the SBP said that Foreign reserves held by the State Bank of Pakistan stood at $8,227.0 million while the net foreign reserves held by banks (other than SBP) were $4,958.0 million on February 22.
Copyright APP (Associated Press of Pakistan), 2013
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PESHAWAR: The Bank of Khyber (BoK) has recorded a robust growth in all sectors during last five years despite challenging economic conditions and marginalized businesses in the country.
The bank is well positioned to meet all financial and regulatory requirements liable under rules of the central bank, said the Managing Director, BoK Bilal Mustafa, while predicting a rosy future of the public sector financial entity of the KP province at the Guest Hour program here on ...
KARACHI: State Bank of Pakistan (SBP) has issued guidelines for authorised dealers in foreign exchange regarding operations of private foreign currency accounts.
SBP, in a circular issued here on Wednesday, advised the dealers to strictly observe the following conditions.
a) All applicable SBP instructions including Prudential Regulations regarding AML/ KYC should be strictly followed.
(b) As already advised in Para 1(iii), Chapter VI of FEM, the Corporate Bodies/ Legal entities cannot generate funds from the kerb market for ...
KARACHI: National Bank of Pakistan (NBP) has posted a lower profit after tax of Rs16.887 billion during the financial year ending December 31, 2012 and declared 15% bonus and 70 % final cash dividend.According to financial results of the Bank despatched to Karachi Stock Exchange here Monday, the pre-tax profit declined to Rs24.063 billion for the period under review against Rs26.131 billion last year.The earning per share slipped to Rs9.13 in 2012 compared to Rs9.58 ...
KARACHI: United Bank Ltd (UBL) has reported a higher profit after tax of Rs19.279 billion during the year ending December 31, 2012, and announced a final cash dividend of Rs3.5 per share.According to financial results of the bank sent to KSE here Monday, the pre-tax profit of the bank surged to Rs25.410 billion during the period under review compared to Rs23.633 billion in the same period last year.The earning per share also improved to Rs15.71 ...
KARACHI: State Bank of Pakistan (SBP) in its reverse repo open market operation in treasury bills and Pakistan Investment Bonds has injected Rs 460 billion in the banking system.According to SBP here Friday, the offered amount was Rs 507.300 billion by 38 bidders while the rate of return for 7-day improved to 8.86 percent per annum.Copyright APP (Associated Press of Pakistan), 2013 ...
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