02082016Mon
Last update: Mon, 08 Feb 2016 04am

Banking & Finance

Pakistan - Banking & Finance

SBP issues revised Prudential Regulations for SMEs KARACHI: The State Bank of Pakistan (SBP) has issued revised Prudential Regulations (PRs) for Small and Medium Enterprises (SME) financing to ensure smooth flow of funds to the sector. According to a press release issued by SBP on Tuesday, the revised PRs focus more on Small Enterprise, and formulate more specific and simpler regulations for them. The new set of Regulations is believed to further improve the current Regulatory Environment and will boost the efforts to meet financing needs of SMEs. The revised regulations underscore importance of cash flow analysis and other tools assessing the primary source of repayment of SME borrowers. It also emphasises the use of technology and documentation for disciplined credit control for monitoring of credit quality. Since Medium Enterprises are relatively less credit-constrained in accessing loans compared to Small Enterprises, the Regulations governing them have not been changed. However, the definition for Medium Enterprises has been ...

Pakistan - Banking & Finance

Currency swap arrangement with China becomes operational: SBP KARACHI: A bilateral Currency Swap Arrangement (CSA) between the State Bank of Pakistan (SBP) and the People's Bank of China (PBoC) amounting to Chinese Yuan (CNY) 10 billion and PKR 140 billion is being implemented from today after issuance of necessary instructions to banks and completion of operational formalities with PBoC. A SBP statement here on Tuesday said that the landmark bilateral CSA was signed between SBP and PBoC by SBP Governor, Yaseen Anwar and ...

Pakistan - Banking & Finance

Meezan Bank records 9pc growth in first quarter 2013 KARACHI: Meezan Bank Limited has recorded 9 percent growth in its profit-after-tax of first quarter ended March 31, 2013 which increased to Rs982 million compared to Rs903 million earned in the corresponding period of 2012.A statement here on Thursday said that the Earnings per Share of the Bank increased to Rs0.98 (March 2012: Rs0.90) on the enhanced share capital of Rs10 billion.Deposits of the Bank grew to Rs235 billion as at March 31, 2013 (Dec ...

Pakistan - Banking & Finance

Banks to remain closed tomorrow on labour day ISLAMABAD: The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed on May 1, (Wednesday) being Public Holiday declared by the Government on the occasion of Labour Day.A SBP statement issued on Tuesday said.Copyright APP (Associated Press of Pakistan), 2013 ...

Pakistan - Banking & Finance

SBP sees great potential in e-banking for financial inclusion KARACHI: State Bank of Pakistan (SBP) sees e-banking as a great opportunity as fast, secure and easy way to tap a big un-banked population of the country which ultimately leads to financial inclusion in the national economy. Speaking as chief guest at 11th E-Banking 2013 Conference and Exhibition organized by Total Communications, Deputy Governor State Bank of Pakistan (SBP) Ashraf Muhamood Wathra said that stakeholders in the industry are involved actively to work on central ...

Pakistan - Banking & Finance

Forum on Islamic Treasury Operations held at Meezan Bank KARACHI: The senior Shariah scholars and advisors of Islamic banks and conventional banks having Islamic windows, have agreed to standardise the forex and interbank Musharakah agreements among Islamic banks and Islamic banking windows.This move will facilitate availability of Shariah-compliant venues for deployment of excess liquidity of Islamic banks, says a statement here on Monday.It said that this agreement was reached during a meeting called by Meezan Bank Limited in which Shariah scholars discussed the challenges ...

Pakistan - Banking & Finance

Pakistan net foreign investment up 3.8pc y/y in July-Mar KARACHI: Net foreign direct investment into Pakistan rose 3.8 percent in the nine months that ended in March to reach $622 million, compared to a year earlier, the State Bank of Pakistan (SBP) said on Tuesday.Between last July and March, there was an inflow of $1.591 billion and outflow of $969 million, the SBP said. In the year earlier, there was an inflow of $1.589 billion and outflow of $990 million.The SBP said the slight ...