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SBP chief sees huge potential in global remittance market  RECORDER REPORT KARACHI: Governor of State Bank of Pakistan (SBP) Yaseen Anwar on Friday said that there exists a huge potential in the global remittance market for Pakistan. Speaking on the occasion of an award distribution ceremony held in recognition of bankers’ services in facilitating home remittances by Pakistan Remittance Initiative (PRI) in Karachi, he said that it was quite satisfactory to note that banks had started to improve their infrastructure and related systems with a view to offering better remittance services to their customers. He observed that the continued impressive growth in workers’ remittances was the result of efforts made by SBP and PRI in collaboration with banks and other stakeholders, facilitating both overseas Pakistanis and their families back home. Outlining steps taken to enhance the flow of remittances through formal channels, he said the central bank was taking the following measures: (a) preparation and implementation of national strategy on remittances; (b) playing ...

Huge potential in global remittance market for Pakistan: SBP  KARACHI: Yaseen Anwar, Governor, State Bank of Pakistan (SBP) has said that there exists a huge potential in the global remittance market for Pakistan.   Speaking on the occasion of an award distribution ceremony held in recognition of bankers' commendable services in facilitating home remittances by Pakistan Remittance Initiative (PRI) in Karachi Friday, he said that it is quite satisfactory to note that the banks have started to improve their infrastructure and related systems with a view ...
SBP to buy govt paper in reverse repo KARACHI: State Bank of Pakistan said it would buy government paper from commercial banks on Friday in seven-day reverse repo to inject funds into the money market.   The State Bank of Pakistan did not say how much money it would inject through the open market operation.   Copyright Reuters, 2012 ...
Rs500 banknotes legal tender till Oct 1  RECORDER REPORT KARACHI: Twenty days are left for exchanging old design and bigger size banknote of Rs 500 denomination from the field offices of SBP Banking Services Corporation (SBP BSC) and branches of all banks. The State Bank of Pakistan and SBP BSC will neither exchange nor be liable to pay any value of such banknote to any person or a bank after October 1, 2012. SBP has, therefore, once again advised the general public to exchange old ...
Branchless banking shows impressive Q4 growth: SBP  RECORDER REPORT KARACHI: Branchless banking has witnessed an impressive growth during the fourth quarter (April-June 2012) as the number of mobile banking accounts touched 1.45 million mark, depicting a remarkable growth of 37 percent.  According to SBP’s ‘Branchless Banking Newsletter’, issued on Tuesday, the accounts’ activity level has also improved considerably during the quarter under review as the number of active accounts increased by 66 percent. Over 28 million transactions worth Rs.115.3 billion were processed during the ...
Overseas workers remit over $2.46bn in July-Aug  RECORDER REPORT KARACHI: Overseas Pakistani workers remitted an amount of $ 2.464 billion in the first two months (July – August) of the current fiscal year FY13, showing a growth of 2.36 percent or $ 56.91 million when compared with $ 2.407 billion received during the same period of last fiscal year (July- August 2011). The inflow of remittances in July- August, 2012 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman), ...
Branchless banking shows impressive growth in fourth quarter: SBP  KARACHI: The branchless banking has witnessed an impressive growth during the fourth quarter (April-June 2012) of the last fiscal year 2011-12 as the number of mobile banking accounts touched the figure of 1.45 million, depicting a remarkable growth of 37 percent. According to SBP's `Branchless Banking Newsletter', posted on its website on Tuesday, the accounts' activity level has also improved considerably during the quarter under review as the number of active accounts increased by 66 percent. Over ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln