Banking & Finance
Wednesday, 08 May 2013 00:30
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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 PBoC Deputy Governor, DU Jinfu in December 2011 in Islamabad. The implementation guidelines from SBP: Currency Swap Agreement between the two Central Banks will give a positive signal to the market on the availability of liquidity of other country's currency in the onshore market. The arrangement will augment the pool of liquidity available to finance bilateral trade between the two countries, supplementing the already available sources of liquidity. In order to ensure transparency in determination ...
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 ...
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 ...
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 ...
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