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KARACHI: The State Bank of Pakistan (SBP) has decided to implement International Bank Account Number (IBAN) standard in the country with a view to bringing about account code standardization and efficiency in processing of payments for domestic as well as cross border transactions. The IBAN guidelines issued by SBP Tuesday contain details for IBAN generation, validation and implementation timelines. These guidelines have been developed in consultation with Pakistan Banks' Association (PBA) nominated committee on IBAN. All participants have been advised by SBP to ensure implementation of IBAN as per given timelines. According to the guidelines, the IBAN, an international standard (ISO 13616) for identifying bank accounts across borders and will be implemented in two phases. In the first phase, all banks shall generate and notify IBAN to all their customers by December 2012. In the second phase, IBAN account numbers will be operationally used (capturing, recognition, processing, validation, transfer) both for domestic as well as ...

KARACHI: The rate for 4th profit coupon for 3-year government Ijara Sukuk (GIS-5) will be 11.9405 percent. According to State Bank of Pakistan (SBP) here Monday, the auction for GIS-5 was held on November 8, 2010 and its coupon payment will due on November 15, 2012. Copyright APP (Associated Press of Pakistan), 2012 ...
DASKA: The Punjab government is spending Rs 36 billion to upgrade the agriculture sector. Sources in the Agriculture Department told APP here Saturday that under the programme drip and sprinkle irrigation would be used in 120,000 acres of land. In addition, 9,000 watercourses will be improved across Punjab and 3,000 laser levelers provided on subsidy. Under a pilot project, watercourses will be built at the cost of Rs 294 million, sources said. The government has taken the step for ...
KARACHI: The State Bank of Pakistan (SBP) Friday issued the revised guidelines on "Stress Testing" in a bid to further strengthen the risk management capacity of banks and development finance institutions (DFIs). The revised guidelines, which are in conformity with international standards and improved capacity of banks/DFIs to perform such analysis, have been divided into three sections, said a BSD Circular No. 1 dated May 11, 2012. The Section 1 of the revised guidelines prescribes standards for ...
KARACHI: The State Bank of Pakistan (SBP) in its reverse repo open market operation in treasury bills and Pakistan Investment Bonds (PIBs) has injected Rs111.350 billion into the banking system. According to SBP here Friday, the offered amount was Rs111.350 billion while the rate of return stood at 11.55 percent per annum.   Copyright APP (Associated Press of Pakistan), 2012   ...
KARACHI: State Bank of Pakistan (SBP) said it would buy government paper from commercial banks on Friday in a seven-day reverse repo to inject funds into the money market. The SBP did not say how much money it would inject through the open market operation. The result of the auction will be announced at 1025 local time (0525 GMT) and settlement will be later in the day.   Copyright Reuters, 2012   ...
KARACHI: Country's foreign exchange reserves have slipped by $19 million to around $16.416 billion as on May 4, 2012. According State Bank of Pakistan (SBP) here Thursday, the foreign exchange reserves held by the Central Bank decreased to about $11.978 billion while reserves held by banks improved to $4.438 billion during the week.   Copyright APP (Associated Press of Pakistan), 2012   ...

 



 
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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