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SBP issues NMB license to Apna Bank KARACHI: State Bank of Pakistan (SBP) has issued a Nationwide Microfinance Banking (NMB) license to Apna Microfinance Bank Limited.Apna Bank (former Network Microfinance Bank) was a district based microfinance bank (MFB) operating in Karachi with five branches, said SBP statement here on Wednesday.In December 2011, SBP allowed a group of investors to acquire majority shareholding of the bank. The approval for acquisition of the bank was allowed with the condition that the group of investors would enhance status of the bank into a nationwide MFB. After completion of all the relevant formalities by the bank, SBP has issued a nationwide microfinance Banking license to Apna MFB to operate at national level microfinance bank limited (former Network Microfinance Bank Limited-operating in the District of Karachi).Copyright APP (Associated Press of Pakistan), 2015 ...

CDNS mobilizes Rs.315bn savings till June 15 ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved Rs 315 billion savings target during current fiscal year from July 1, 2014 to June 15,2015 against the revised target of Rs.329 billion.An official of CDNS giving breakups of set targets for coming fiscal year 2015-16 of National Savings told APP here on Tuesday that "Net target for new financial year 2015-16 is Rs. 302 billion and gross target would be 1043.""People have shown confidence ...
SBP to facilitate public in obtaining fresh currency notes during Ramazan ISLAMABAD: In line with its tradition, the State Bank of Pakistan (SBP) will utilize the large branch network of commercial banks all over the country and the 16 field offices of SBP Banking Services Corporation for distribution of fresh currency notes to the general public to meet their needs for Eid-ul-Fitr celebrations.The SBP BSC field offices will start issuance of fresh notes w.e.f June 25 through their counters till the last working day before Eid-ul-Fitr; ...
Agri credit disbursement surges to Rs 439.8bn in 11 months KARACHI: During current fiscal year (July-May 2015) the banks have disbursed Rs 439.8 billion which is 88% of the overall annual target of Rs 500 billion. This is 31.4% higher than disbursement of Rs 334.7 billion made during the corresponding period last year, said a SBP statement issued on Monday.The outstanding portfolio of agriculture loans has also surged by Rs 43 billion or 15.5% i.e. from Rs 277.1 billion to Rs 320.1 billion at end ...
NBP launches Islamic banking system in Khyber Agency PESHAWAR: The National Bank of Pakistan (NBP) has formally launched Islamic banking system at tehsil Jamrud of Khyber Agency.In this connection, a function was held at NBP Jamrud branch that was attended besides others by Member National Assembly Shahgee Gul Afridi and Assistant Political Agent Jamrud Fahad Wazir.On this occasion, the NBP Manager appraised the audience about aims and objectives of the Islamic banking system. He said interest free banking facilities was now available for ...
Zarai Taraqiati Bank Limited gets AAA/A1+ ISLAMABAD: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Zarai Taraqiati Bank Limited as AAA/A-1+ (Triple A/A One Plus), besides the safety of deposits mobilized by the Bank is explicitly guaranteed under the Bank's (Nationalization) Act, 1974.The assigned rating reflected the systematic importance of Zarai Taraqiati Bank limited (ZTBL) to the Agriculture economy of Pakistan, says a statement issued by the bank here today.Timely availability of agriculture credit continues to remain an ...
NBP ensures superlative ATM services for its customers during Ramzan & Eid holidays ISLAMABAD: The National Bank of Pakistan (NBP), being the nation's bank has taken special measures to ensure superlative Auto Teller Machine (ATM) services to facilitate its valued customers twenty four hours in seven days (24/7) during the holy month of Ramzan & Eid holidays acoss the country, a senior offical of the bank said."The NBP takes immense pride in being the Nation's Bank, keeping in view our responsibility to the nation, we are fully committed ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln