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SBP revises regulations for micro-finance banks KARACHI: State Bank of Pakistan (SBP) has issued revised prudential regulations (PRs) for micro-finance banks (MFBs) to further improve their governance structure, consumer protection practices and anti-money laundering (AML) policies. Presently , ten MFBs are providing basic financial services to the poor and low-income people in the country. These MFBs are well-capitalized and owned by diverse and strong sponsors, said SBP release here on Tuesday.The revised regulations will enable these MFBs to prudently manage their operations in the wake of their recent business growth, technological innovations and market infrastructure improvements.The revised regulations, among other areas , define role and responsibilities of board of directors, require induction of two independent directors, and prescribe fit and proper test for the appointment of key executives of MFBs.MFBs are also required to improve their consumer protection policies through basic financial literacy programs, enhanced transparency and disclosures, fair debt collection practices, and effective complaint redressal ...

SBP renews status of credit rating agencies KARACHI: State Bank of Pakistan (SBP) has renewed the status of both the credit rating agencies operating in the country as eligible /recognized external credit assessment institutions (ECAIs) for the calendar year 2014.These agencies are JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited ( PACRA), said SBP press release here on Tuesday.Banks / DFIs using the standardized approach of Basel II are allowed to use credit rating assigned by these recognized ...
SBP reminds public to exchange of decimal coins of Paisa 1,2,5,10,25 & 50 ISLAMABAD: State Bank of Pakistan (SBP) has reminded the general public to exchange the decimal coins of Paisa 1,2,5,10,25 & 50 from the field offices of SBP BSC and commercial/microfinance banks branches by last working day of September 30, 2014For awareness of general public, SBP has advised the Commercial /Microfinance Banks to display posters/banners at visible places of their branches for exchange of decimal coins, a statement of the Central Bank issued on Tuesday said.It ...
SBP injects Rs 17,500mn into market KARACHI: State Bank of Pakistan (SBP) on Monday injected Rs 17,500 million into market for four days during its open market operation (OMO). The bids received for the 4-day injection amounted to Rs 29,500 million and the rate of return will be 9.91 percent , said SBP press release.Copyright APP (Associated Press of Pakistan), 2014 ...
Pakistan Post receives Rs7,451.4mn remittances ISLAMABAD: Pakistan Post received the foreign remittances amounting to US$64.9 million dollars equivalent to Rs7,451.4 million during the first nine months July-March 2013-14 of current fiscal year.According to Economic Survey, Pakistan Post also received an amount of Rs35.5 million during the period July-Feb 2013-14 on account of terminal dues for imbalance of international mails received from and dispatched to other countries.Pakistan Post dispatched more volume of mail than it receives for delivery. Thus it always ...
SBP injects Rs64.700mn into market KARACHI: State Bank of Pakistan (SBP) on Friday injected Rs 64, 700 million into the market during its open market operation (OMO).The injection is for seven days and the rate of return is 9.9 percent, said SBP release.Copyright APP (Associated Press of Pakistan), 2014 ...
Post earns Rs806.8mn commission through saving schemes ISLAMABAD: Pakistan Post has earned commission amounting to Rs806.8 million during the period July to March 2013-14 by collecting an amount of Rs161,365.865 million through national savings schemes.According to Economic Survey 2013-14, Pakistan Post has been doing Saving Bank work as an agency function on behalf of the Ministry of Finance under the Government Savings Bank Act 1873 on commission basis.Pakistan Post Savings Bank offers the largest network of savings bank services across the country. ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln