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KARACHI: Executive Director, State Bank of Pakistan (SBP) Muhammad Ashraf Khan,has emphasized upon the banks to adopt agricultural financing as a viable business activity for the development of the agriculture sector in the country. According to SBP press release issued here Wednesday, this he said while presiding over a one-day :Farmers' Financial Literacy & Awareness Program on Agricultural Financing", which was jointly organized by State Bank and Habib Bank Ltd. Wednesday at NRSP Training Center, Bahawalpur, he said the agriculture sector has a key role in country's economy and stressed the need for making necessary finances available to farmers for multiple cropping activities. He outlined SBP's efforts for creating awareness amongst the farming community and developing capacity of commercial banks through its various training and awareness programmes. Prof. Dr. Muhammad Mukhtar, Vice Chancellor, Islamia University Bahalwalpur, who was the Chief Guest at the inaugural session, appreciated State Bank's initiative to promote farmers' financial literacy ...

KARACHI: The State Bank of Pakistan (SBP) has revised fee on funds transfers/remittances under the remittance facility to banks. According to PSD Circular No 1/2012, issued to all banks/DFIs, a flat fee of Rs 1000 per transaction for each fund transfer instruction will be charged with immediate effect. It may be added here that according to earlier instructions, the SBP had levied a uniform rate of 0.07 percent on all funds transfers or remittances under the remittance ...
KARACHI: The Burj Bank Limited (BBL) in the first phase will established its 50 branches in the country. This was stated by the president and chief executive officer of BBL, Ahmed Khizar Khan, when he called on the Sindh Chief Minister, Syed Qaim Ali Shah, at the CM House here on Tuesday. Burj Bank is the new name of the Dawood Islamic Bank Limited, he informed. Khizar said that the BBL in the first phase will establish its ...
KARACHI: State Bank of Pakistan (SBP), in its reverse repo open market operation (OMO) in treasury bills and Pakistan Investment Bond, has injected Rs 222.800 billion on April 6, 2012. According to SBP here Friday, the offered amount was Rs 227.800 billion for 7-day reverse repo. The rate of return was 11.55 percent. Copyright APP (Associated Press of Pakistan), 2012 ...
MBL holds its 16th Annual General Meeting of the Shareholders  KARACHI: The 16th Annual General Meeting (AGM) of Meezan Bank Limited (MBL) was held at its Head Office. A statement here on Thursday said that the meeting was chaired by Irfan Siddiqui, President and CEO of the MBL. It said that Irfan Siddiqui informed the shareholders that Meezan Bank's performance remained outstanding in all areas of its business activities. The Bank recorded 106% growth in its Profit-after-tax for 2011 which increased to Rs. 3.4 billion (2011: Rs. 1.65 ...
KARACHI: State Bank of Pakistan (SBP) has allowed multiple credit transfers (using MT 102) for 3rd party transfers with immediate effect, to further enhance the payment transfer facilities through PRISM System. According to PSD Circular Letter No 1/2012 of April 4, 2012, the lower value limit for each credit transfer in MT 102 shall be Rs 100,000, while the maximum 10 payment instructions are allowed to be sent through one MT 102 message. The Circular said that ...
RECORDER REPORT LAHORE: Zarai Taraqiati Bank Limited (ZTBL) has started disbursement of agricultural credit for Kharif crops through One Window Operation. A spokesman of Punjab Agriculture Department has advised farmers to benefit by the facility of loan disbursement through One Window Operation and purchase agricultural inputs for Kharif crops in time to get more income. He said that the farmers holding up to 25 acres irrigated and 50 acres Barani land are eligible to get loan through Pass ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln