05282016Sat
Last update: Sat, 28 May 2016 05am

Banking & Finance

Pakistan - Banking & Finance

SBP injects Rs31bn into market KARACHI: State Bank of Pakistan (SBP) on Thursday injected Rs. 31 billion into money market for one day through its open market operation (OMO).The rate of return accepted is 6.01 percent per annum, said SBP. Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Govt achieved revenue collection targets: Ishaq Dar ISLAMABAD: Finance Minister Muhammad Ishaq Dar has said that the government has achieved its targets of revenue collection till the third quarter of current fiscal year.Talking to a private news channel he said total collection has witnessed about 20 percent growth rate in the nine months.He said the government collected Rs. 297 billion revenue against the set target of Rs.230 billion from the month of January to March this year which reflects sincere measures being ...

Pakistan - Banking & Finance

MCB bids to acquire New Kabul Bank MCB, one of the largest banks in Pakistan is eyeing to acquire the Afghanistan’s New Kabul Bank. The bank was the country’s largest lender before it was defrauded back in 2010.According to Bloomberg, "The Pakistani bank is one of two preferred bidders," Mohammad Aqa Kohistani, said treasury director in Afghanistan’s Finance Ministry. He further added, "Within four months, the bank will be privatized and sold to one of them." The other bidder is a local ...

Pakistan - Banking & Finance

Governor SBP inaugurates country's first Domestic Payment Scheme KARACHI: Governor, State Bank of Pakistan (SBP), Ashraf Mahmood Wathra, inaugurated Pakistan's first Domestic Payment Scheme, here on Tuesday. The new payment scheme has been branded as "PayPak and would compete in the domestic market with other international payment schemes. However, the new card would only be used within Pakistan and would offer the benefit of low cost, ease of affordability and security to ordinary citizens, said SBP statement here. The PayPak has been introduced ...

Pakistan - Banking & Finance

State Bank to announce Monetary Policy on Saturday ISLAMABAD: The meeting of monetary policy committee (MPC) of State Bank of Pakistan (SBP) will be held on (Saturday) 2016 in Karachi.The monetary policy decision will be announced through a press release, said a statement issued by the central bank here Monday.Following are members of Monetary Policy Committee (MPC).-- Ashraf Mahmood Wathra Governor / Chairman--Zafar Masud Board Member--Mohammad Riaz Board Member--Ardeshir Khursheed Marker Board Member--Saeed Ahmad Deputy Governor (FM, IB &SI) / Internal Member--Riaz Riazuddin ...

Pakistan - Banking & Finance

Housing finance awareness programme FAISALABAD: Senior Joint Director, State Bank of Pakistan, Faisal Shafaat has said that easy access to housing finance will not only help to overcome the shortage of housing units but also catalyzed much-needed economic activity through this safe banking investment module.He was addressing an awareness programme on housing finance arranged by the access to finance unit of State Bank of Pakistan here on Sunday. More than 25 banks, developers, investors and other stakeholders participated in ...

Pakistan - Banking & Finance

SBP injects Rs420.600bn into market KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs 420.600 billion into money market for seven days through its open market operation (OMO).The accepted rate of return is 6.03 percent per annum, said an SBP statement.Copyright APP (Associated Press of Pakistan), 2016 ...