Trends - banks - Business Recorder

Print

Consignments stuck at ports: Banks told to give one-time facilitation to importers

KARACHI: In order to clear the stuck consignments at ports, the State Bank of Pakistan (SBP) has advised banks to...

Updated 24 Jan, 2023 08:59am

Business & Finance

Dollar manipulation: SBP says probe complete, decision to be made on fiscal or regulatory action

Action would be taken by either the SBP or government, but dual action cannot be taken, says central bank governor Jameel Ahmad

Updated 23 Jan, 2023 07:42pm

Business & Finance

Insurance ombudsman finalises arrangements for national conference

KARACHI: Federal Insurance Ombudsman Dr Muhammad Khawar Jameel has finalised the arrangements for the annual two-day...

Published 19 Jan, 2023 07:13am

Print

Forex: industry makes prudent move

ISLAMABAD: The country’s struggling industry has sought government’s nod to use foreign exchange (dollars)...

Updated 19 Jan, 2023 08:40am

Business & Finance

SBP governor hopeful of foreign exchange inflows in coming days

During address at FPCCI, Jameel Ahmad expresses commitment to resolving issues of business community

Updated 18 Jan, 2023 06:54pm

Markets

NGOs denounce banks financing new oil and gas projects

PARIS: Despite joining industry groups committed to reaching carbon neutrality the world’s top banks are ...

Published 18 Jan, 2023 06:47am

Business & Finance

PPMA fears medicine shortage if curbs on LCs not removed soon

ISLAMABAD: The Pakistan Pharmaceutical Manufacturers Association (PPMA) has urged the government and the State Bank...

Published 18 Jan, 2023 06:22am

Print

New tax raising steps under consideration

Proposed measures include increase in rates of withholding taxes, more indirect taxation, three percent flood levy on imports, and tax on banks’ foreign exchange income

Updated 18 Jan, 2023 12:40pm

Pakistan

Govt to facilitate exporters for import of raw material, other accessories: Ishaq Dar

Finance minister says five zero-rated export-oriented sectors and other exporters will be given complete facilitation

Updated 16 Jan, 2023 05:22pm

BR Research

Reassessing MDR

There is a minimum deposit rate (MDR) on the savings deposits of banks. Then there is a higher tax on banks with...

Published 05 Jan, 2023 08:03am

Pakistan

Banks, shops reopened in Gwadar, chief secretary told

QUETTA: Balochistan Chief Secretary Abdul Aziz Ugaili on Monday chaired a high-level meeting to review the current...

Published 03 Jan, 2023 03:25am

Markets

KSE-100 gains 0.42% over hope of Saudi Arabia support

The Pakistan Stock Exchange (PSX) witnessed another range-bound session on Tuesday, but positive momentum prevailed...

Published 13 Dec, 2022 06:38pm

Print

Facial recognition of users by LEAs: Banks told to install quality CCTVs at ATMs, on branch premises

KARACHI: The State Bank of Pakistan (SBP) has directed banks to install top quality CCTVs at ATMs and around branch...

Updated 27 Oct, 2022 09:47am

BR Research

Central banking of convenience

SBP started the flexible exchange regime in 2019. At the time, the PKR/USD level was 160. The currency oscillated...

Published 12 Oct, 2022 09:03am

Pakistan

Moody's downgrades ratings of five Pakistani banks; maintains negative outlook

Moody’s says rating actions reflect the Government of Pakistan's reduced capacity to support the banks

Updated 11 Oct, 2022 08:42pm

BR Research

Much ado about nothing?

Banks are under scrutiny for making so called exuberant profits on foreign exchange earnings. Some of have made more...

Published 22 Sep, 2022 09:01am

Opinion

Money transfer firms replace banks in crisis-hit Lebanon

Like many people in crisis-hit Lebanon, Elias Skaff used to wait for hours to withdraw cash at the bank but now...

Published 05 Sep, 2022 06:04am

Business & Finance

SBP initiates strict monitoring of forex operations

KARACHI: In order to control the volatility in the exchange rate, the State Bank of Pakistan (SBP) has initiated...

Updated 04 Aug, 2022 10:36am

Business & Finance

SBP appoints 12 banks as Primary Dealers for Financial Year 2022-23

The State Bank of Pakistan (SBP) has appointed 12 banks as Primary Dealers (PDs) of government securities and two...

Published 13 Jul, 2022 11:28am

Opinion

Crypto lending world sways under risk and turmoil

Starting with the lofty goal of competing with traditional banks, cryptocurrency lending giants and their clients ...

Published 02 Jul, 2022 04:10am

Print

Supertax likely to generate additional Rs200bn

KARACHI: The imposition of one time supertax at 10 percent on big corporates is likely to help the coalition...

Updated 25 Jun, 2022 11:24am

Pakistan

Watch: Finance Minister Miftah Ismail's entire address in National Assembly

Clarifies super tax of 4% will be applicable to all sectors.
For specified 13 sectors, another 6% will be added for a total of 10%
Their tax rates will go from 29% to 39%
This is a one-time tax aimed at curtailing previous four record budget deficits, says Miftah

Published 24 Jun, 2022 02:45pm

Pakistan

Watch: PM Shehbaz Sharif's entire address on 10% super tax on large industries

We intend to tax high income earners so that the entire nation can reap the benefit through education, health, infrastructure, skills education and IT uplift, he says
Tax will be applicable on cement, steel, sugar, oil and gas, fertiliser, LNG, textile, banks, automobile, beverages, chemicals, tobacco and airlines
Collection from this tax will be used to alleviate poverty in Pakistan

Updated 24 Jun, 2022 02:53pm

Pakistan

Super tax a one-time levy, will help narrow budget deficit: Miftah Ismail

Finance minister says tax applicable for FY23, announces reduction in sales tax on large shops

Updated 24 Jun, 2022 05:58pm

Pakistan

PM Shehbaz slaps 10% 'super tax' on large-scale industries

One-time levy to be imposed on cement, steel, sugar, oil and gas, fertiliser, LNG , textile, banking, and automobile sectors among others for FY23

Updated 24 Jun, 2022 05:53pm

Print

Banks: govt mulling raising super tax rate

ISLAMABAD: The Federal Board of Revenue (FBR) will propose “Super Tax” on certain sectors having annual turnover...

Updated 31 May, 2022 10:11am

Business & Finance

Pakistan's Islamic banking sector to have 30% market share by 2026: Moody’s

Estimates average growth over 2021-2026 to range between 25%-28% for total assets and deposits

Updated 24 May, 2022 06:37pm

Opinion

Goldman, JPMorgan among banks left holding Russian stocks by sanctions switch

A decision last month by FTSE Russell and MSCI to remove Russian stocks from their indexes has left some of the...

Published 24 Apr, 2022 05:36am

Technology

Big Tech now regulated like banks, says EU antitrust chief

BRUSSELS: Big Tech companies will be regulated like banks, a top EU official said on Friday, as a new landmark...

Published 28 Mar, 2022 06:21am

Business & Finance

SBP removes transactional limits for Raast app payments

The latest measure to facilitate Raast users will come into effect from April 1

Updated 16 Mar, 2022 02:53pm