State Bank of Pakistan Archives

Current account deficit exceeds $15 billion mark in 11 months

The current account deficit (CAD) abruptly widened to $15.2 billion during the first 11 months of the outgoing financial year as compared...

843

Pakistan received $1.6 billion in foreign investment during July-May FY22

The current financial year is going to end this month but the Foreign Direct Investment (FDI) is still behind the previous year’s...

629

State Bank receives $2.3 billion loan from China

A Chinese consortium loan of RMB 15 billion, or around $2.3 billion, has been credited to the State Bank of Pakistan’s (SBP)...

623

State Bank cuts auto loan tenure to three years to slow down booming car sales

The State Bank of Pakistan has set a new time frame for auto loan in an effort to reduce car imports and...

463

Pakistanis have more properties in Dubai than country’s forex reserves

Super rich Pakistanis have properties in Dubai that is worth more than the foreign exchange reserves held the the central bank of...

734

State Bank raises interest rate to 11-year high of 13.75%

To maintain the balance between inflation and economic growth, the State Bank of Pakistan (SBP) hiked the monetary policy rate by 150...

842

SBP declares OctaFX and other forex trading platforms illegal

State Bank of Pakistan (SBP) on Wednesday declared use of forex trading platforms including OctaFX and Easy Forex illegal in Pakistan. The...

584

Pakistan receives all-time high $3.12 billion remittances in April

For the first time, Pakistan’s remittances crossed the figure of $3 billion in a month, which gave hope that the country would...

682

State Bank of Pakistan restores Saturday as holiday for banks

In less than a month after the federal government raised working hours for banks and government agencies, the State Bank of Pakistan...

624

Dr Murtaza Syed takes over as acting governor of State Bank of Pakistan

Dr. Murtaza Syed, as the senior-most deputy governor, has assumed the position of the State Bank of Pakistan’s acting governor. After tough...

739

6-month KIBOR hits a 13-year high at 14.1%

The six-month Karachi Inter-bank Offered Rate (KIBOR), a standard for financing to consumers and businesses, hit a 13-year high amidst growing threats...

604

Deposits held by banks increased to reach Rs 20.47 trillion in March

On a month-on-month (MoM) basis, the total deposits held by banks have shown an increase of 2.9 percent to reach Rs 20.47...

709

Pakistan’s remittances reach historic high of $2.8 billion in March

Workers’ remittances remained beyond $2 billion for a record 22nd successive month, having an inflow of $2.8 billion received in the month...

729

State Bank hikes interest rate to 12.25% to avert growing risks to economy

As the country continue to struggle with uncertainties about the outlook for international commodity prices and global financial conditions, aggravated by the Russia-Ukraine...

786

Bank account holders can now invest in capital market

Residents can create accounts in the capital market using their bank’s platform or app under the State Bank of Pakistan’s (SBP) ‘Shared...

701

Private sector credit off take reached to Rs 911 billion

The increasing trend of oil prices and other commodities at the international level compelled the State Bank of Pakistan to enhance the...

865

Pakistan’s current account deficit widens to $12.1 billion in eight months

The monthly current account deficit has shrunk to the lowest figures of $0.5 billion in February during the current fiscal year. Prime...

605

Pakistan’s economy maintains growth momentum in first quarter of FY22

State Bank of Pakistan (SBP) said Pakistan’s economy has maintained growth momentum in first quarter of fiscal year 2021/2022. The present government...

677

SBP reserves drop $869 million to $14.96 billion on debt repayments

A massive outflow of $869 million week-on-week mainly for debt repayments dragged the foreign exchange reserves of the State Bank of Pakistan...

713

Bank advances to private sector more than doubled to Rs 874.3 billion in eight months

Macroeconomic indicators are showing an optimistic picture of the economy of Pakistan as private sector credit off-take is more than doubled in...

760

Cut-off yield on T-bills increased by up to 130 basis points

The cut-off yields on the Treasury Bills (T-Bills) were found to enhance by up to 130 basis points on Wednesday. It took...

782

Inflows under Roshan Digital Account reach $3.632 billion ending February 2022

State Bank of Pakistan has revealed that the total inflows under Roshan Digital Account (RDA) have touched $3.632 billion at the end...

675

State Bank leaves policy rate unchanged at 9.75%

The State Bank of Pakistan (SBP) kept the interest rate at 9.75 percent for the next six weeks, in line with market...

951

SBP directs banks to employ 20% women by 2023

State Bank of Pakistan has directed banks across the country to employ at least 20 percent of women by 2023. Addressing the...

814

SBP Merit Scholarship Scheme announced and you can apply by March-end

State Bank of Pakistan (SBP) has announced the Merit Scholarship Scheme 2020-21 which will given to the brilliant and bright children of...

620

SBP to provide unlimited loans for agri warehouse projects at 6% markup

The State Bank of Pakistan (SBP) is all set to provide unlimited loans for agri warehouse infrastructure schemes in rural areas, central...

763

State Bank increases indicative credit limits for agriculture financing

State Bank of Pakistan (SBP) has enhanced the indicative credit limits for agriculture financing by banks to farmers. According to the sources...

1.3K

SBP launches Electronic Warehouse Receipt Financing for maize crop

The Electronic Warehouse Receipt Financing (EWRF) is going to be launch at a roadshow for maize crop in Kasur’s Chunian tehsil on...

1.2K

This is how much the State Bank Governor gets paid every month

Like the other top bureaucrats, the Governor of the State Bank of Pakistan (SBP) is also on a substantial salary as he...

897

Roshan Digital Account inflows reach $3.382 billion in 17 months

On a year-on-year basis, there has been an increase in monthly Roshan Digital Account inflows of 38 percent reaching $3.382 billion by...

601

Govt borrowing from banks falls 66pc in seven months

The government’s borrowing from scheduled banks shrank 66 percent year-on-year to Rs292.7 billion during the first seven months (July to January) of...

1.9K

SBP launches instant and free P2P fund transfers under Raast

The State Bank of Pakistan (SBP) on Thursday ordered banks to present free person-to-person (P2P) fund transferals under Raast, a digital payment...

1.7K

Foreign inflows in equities, bonds and treasury bills outpaced outflows in January

During the month of January, foreign inflows in equities, Market Treasury Bills, and Pakistan Investment Bonds increased, crossing the outflows. According to...

776

Pakistan attracted foreign direct investment worth $1.05 billion in 6 months

According to the data, released by the State Bank of Pakistan on Tuesday, Foreign Direct Investment has gone up by 20 percent year-on-year basis...

825

Remittances hit all-time high of $15.8 billion in July-December

Remittances from Pakistani individuals working overseas increased by 11.3 percent to $15.8 billion in the first half of this fiscal year, according...

694

Growing economic activities as private sector borrowing surges fivefold to Rs 715.7 billion

According to a report of the State Bank of Pakistan, the private sector borrowing went high by 508 percent to Rs 715.7...

575

Banking sector assets rise 21% to Rs 28.8 trillion in 12 months

The total assets of the banking sector rose 20.9 percent to Rs 28.790 trillion till September 2021 against Rs 23.808 trillion in...

1.5K

SBP Amendment Bill bars government borrowing from central bank

Revised draft of SBP Amendment Bill 2021 has been approved by the federal cabinet that promises complete autonomy to State Bank of...

765

Current account deficit jumps to $7 billion in five months

The Current Account Deficit (CAD) in the month of November stood at $1.9 billion as compared to $1.76 billion during this month,...

1.6K

SBP limits how much foreign currency you can buy in Pakistan

The State Bank of Pakistan (SBP) has amended its regulations regarding purchase of foreign currency in an attempt to curb the buying...

700

Remittances up 9.7% to $12.9 billion in five months

In November 2020, the remittances received from overseas Pakistanis had stood at $2.33 billion while during the same month, this year, they...

783

State Bank raises interest rate by 100 bps to 9.75%

Pakistan’s central bank raised the benchmark interest rate by 100 basis points to 9.75 percent on Tuesday, in line with market expectations,...

504

SBP foreign exchange reserves rise $2.65 billion to $18.66 billion

The foreign exchange reserves of Pakistan increased by 16.6% or $2.648 billion to $18.658 billion during the week ended on December 3...

694

National Savings outflows reduce government’s borrowing options

The outflows from the National Savings Schemes (NSS) continued during the first four months of 2021-22 when the government of Pakistan has...

682

Rs 117 billion raised through auction of fixed-rate Pakistan Investment Bonds

The first auction of Pakistan Investment Bonds (PIBs) after an upsurge in the interest rate observed a jump in rates as cut-off...

402

Outflow of profits, dividends on foreign investment falls 16.5% in July-October

The outflow of profits and dividends on foreign investment in Pakistan has declined by 16.5 percent to $566 million in the first...

1.1K

SBP hikes housing exposure limit of banks to 25%

The State Bank of Pakistan (SBP) has increased the limit of banks’ exposure to housing and construction to 25 percent from 15...

735

Pakistan receives $3 billion loan from Saudi Arabia

The State Bank of Pakistan on Saturday received the much-awaited $3 billion loan from Saudi Fund for Development (SFD), as part of an...

957

State Bank warns banks against currency speculation

The State Bank showed severe concerns over speculation by banks in the currency business, stating they were indulged in the multibillion-rupee game. ...

799

Pakistan took $3.8 billion in new foreign loans during Jul-Oct, up by 18%

The government has taken $3.8 billion in new foreign loans during the first four months of the current fiscal, up by 18 percent, According to...

1.0K

Profit rate on savings accounts hiked by 1.5% to minimum of 7.25%

The profit rate on savings accounts is going to rise by 1.5 percent to a minimum of 7.25 percent by December 1, said the State Bank of...

555

Govt raises Rs 56 billion against Rs 600 billion target through auction of T-bills

The government had overruled nearly all competitive proposals in the auction of treasury bills held on Wednesday however it approved only Rs...

767

SBP jacks up interest rate by 150 basis points to control rising inflation

The State Bank of Pakistan (SBP) increased its benchmark policy rate by 150 basis points on Friday, in line with market expectations,...

480

SBP raises cash reserve requirement limit for banks to contain monetary expansion

The State Bank of Pakistan (SBP) has increased the Cash Reserve Requirement (CRR) by one percentage point to 6 percent for scheduled banks to contain monetary...

455

Roshan Digital Account attracts $2.677 billion in 14 months

Inflows through Roshan Digital Account (RDA) has reached $2.677 billion in October 2021 since its launch in September 2020. According to the data, issued by the...

583

SMEs likely to get Rs 60 billion collateral-free lending from eight banks

State Bank of Pakistan has selected eight banks to get financing at 1 percent for onward lending to SMEs at a maximum end-user rate...

1.1K

SBP tightens consumer lending rules to limit car finance

With the introduction of Auto Policy 2016-2021, Pakistan grabbed many renowned brand under the policy which was a significant boom to the auto industry...

795

Current account deficit widens 81 percent to $1.47 billion in August

The Current Account Deficit during the month of August has increased by 81 percent to $1.476 billion as compared to the previous...

708

SBP increases policy rate by 25bps to 7.25 percent after a 15-month gap

State Bank of Pakistan (SBP) has increased the benchmark interest rate by 25 basis points to 7.25 percent on Monday after 15...

483

Pakistanis can now easily open bank accounts remotely

Pakistanis will now be able to conveniently and remotely open bank accounts via digital channels including websites and mobile applications. An official...

537

SBP package for housing sector will primarily help big builders: report

The State Bank of Pakistan (SBP) incentive package for construction and housing sector would help achieve financing targets of influential builders for...

763

Remittances see 10 percent increase in first two months of FY22

Pakistan has received $5.364 billion in remittances during the first two months of the fiscal year 2021-22 (2MFY22), showed an increase of...

865

Nadra launches contactless biometric verification service for banking

Making positive use of technical advancements, and accepting the request of the State Bank of Pakistan (SBP), National Database and Registration Authority...

1.3K

Rupee falls to 13-month low of 168.08 against dollar as trade week closes

The rupee ended the day weaker and lost 0.26 percent against US dollar, according to today’s inter-bank closing exchange daily report. The US dollar’s...

590

National Savings outflows exceed inflows first time in 16 years

The net savings in National Savings remained negative during the fiscal year 2020-21, which has happened for the first time after 2004-05....

634

New investment options opened up for overseas Pakistanis through RDA

The country’s central bank has given overseas Pakistanis a variety of new investment choices in Pakistan, including public and unlisted enterprises, mutual...

998

Roshan Apna Ghar scheme launched for overseas Pakistanis

The Roshan Apna Ghar scheme for overseas Pakistanis has been launched, will help the country to attract a lot of money. On Friday, Prime Minister...

579

New SBP instructions for selling third-party products

SBP has issued a comprehensively revised set of instructions on the sale of third-party products, the instructions will be applicable from 1st November. ...

650

Current Account turns negative by $773 million in July

Pakistan faced a Current Account Deficit of $773 million during the month of July this year as compared to $583 m during the...

740

Pakistan received record $2.71 billion remittances in July

Pakistan has received the third largest workers’ remittances amounting to $2.71 billion in July, the first month of current fiscal year. The...

617

Dollar hits 10-month high against rupee, crossing Rs 164 mark

On Thursday, the US dollar surpassed the Rs 164 barrier for the first time in ten months after SBP let the rupee...

460

Banks miss agriculture credit target, rises 12% year-on-year

Credit to the agriculture sector rose 12 percent to Rs 1.36 trillion last fiscal year year-on-year but fell short of the target of Rs...

562

State Bank revises forex rules for commercial remittances

The State Bank of Pakistan (SBP) changed foreign exchange instructions, facilitated the making of commercial remittances abroad through a number of ways...

565

Pakistan Investment Bonds fail to attract any foreign inflows during July

The first month of the 2021-22 financial year has passed without any foreign inflow in the Pakistan Investment Bonds (PIBs). According to the report...

503

SBP expects current account deficit to be 2-3 percent of GDP

The State Bank of Pakistan is expecting the current account deficit to remain in the range of 2 to 3 percent of...

693

Bank investments in government securities jump 86% in two years

According to the data released by the State Bank of Pakistan, the investments of commercial banks in government securities grew by 32%...

728

Rising house rents prop up inflation in 2020-21

The State Bank of Pakistan (SBP) on Monday issued its Inflation Monitor for June 2021 declaring house rents as prime contributor following...

1.2K

Pakistani rupee weakens against US dollar in interbank market, closes at 162.32

According to data, the Pakistani rupee lost another 0.52% to close at 162.32 against the US Dollar in the interbank market on Friday,...

437

Credit to private sector spikes 12 percent to Rs 6.82 trillion

Credit to private sector by the banking system jumped 12 percent to a total of Rs 6.82 trillion in the previous fiscal...

647

Housing and construction finance up 75 percent in FY21

The housing and construction finance in FY21 has seen an increase of Rs 111 billion or 75 percent to reach Rs 259...

573

Investment by Islamic banking industry rises by 23 percent

The Islamic Banking Industry (IBI) invested 23 percent more than the deposit growth during Jan-March 2021 (3QFY21), according to report issued by the State...

545

Banks see 43 percent jump in calendar year 2020 profits despite Covid

The profits of Pakistani banks have surged by 42.92 percent in the calendar year 2020, according to the stats released by State Bank of...

491

Auto Financing by banks hit an all-time high

Auto financing by banks hit an all-time high of Rs 297.5 billion in FY 2020-21, as Pakistani consumers took advantage of the...

818

$1.6 billion sent by expats from 171 countries through Roshan Digital Accounts

Overseas Pakistanis have deposited approximately $1.6 billion through Roshan digital accounts (RDAs) from 171 countries in less than one year. The State...

528

SBP unveils policy for inclusion of Persons with Disabilities

The State Bank of Pakistan (SBP) has introduced a comprehensive policy to enhance the financial inclusion of Persons with Disabilities (PWDs). President...

1.0K

Banks allowed to collect up to Rs 200 fee on inter bank funds transfer

According to the State Bank of Pakistan’s recent instructions about changes to the pricing mechanism of inter bank funds transfer online, a...

430

Private sector borrowing from banks jumps by 70 percent

The private sector’s borrowing from banks jumped by 70 percent in the first 11 months of the current fiscal year, reflects higher...

646

Remittances surge by 29.4 percent in 11 months

Workers’ remittances stayed above $2 billion for 12th consecutive month, as sending money home rose to $26.7 billion during July-May 2020-21, higher by 29.4 percent...

533

Domestic debt goes up by Rs 2 trillion in July-April FY2021

During the first 10 months of this fiscal year, Pakistan’s domestic debt and liabilities were Rs 2.050 trillion which had stood at...

762

State Bank to introduce collateral-free loan scheme for cottage industry

The State Bank of Pakistan (SBP) is going to launch a clean loan scheme for the cottage industry for up to Rs 10 million financing. “Government deserves...

823

SBP amends banking regulations to boost investment in real estate

The State Bank of Pakistan (SBP) has reduced the risk weight of banks/DFIs from 200 percent to 10 percent on their investment in units of Real...

522

28 percent growth in bank advances via credit cards during April 2021

Bank advances via credit cards have swelled by 28 percent to Rs 53 billion in April from Rs 42 billion in the same...

771

Current account posts $773 million surplus in July-April

The current account of the country continued to surplus with $773 million during the first 10 months of the current fiscal year...

495

Rise in bank deposits outpaces advances growth in first 10 months of FY21

The banks used to invest their largest part of liquidity in the government papers which are risk-free and give high yields. After...

666

PayFast becomes first payment gateway to get commercial license from SBP

Karachi: PayFast, the indigenous payments solution by APPS, is now the first payment gateway in the country to receive a commercial license...

762

Pakistan reports higher-than-expected GDP growth at 3.94 percent for FY21

Pakistan reports that its GDP is on course to grow nearly 4 percent in the fiscal year that ends in June, almost...

646

Remittances rise to an all-time high of $2.8 billion in April

Remittances by overseas Pakistanis rose to an all-time high of $2.8 billion in April, showing growth of 56 percent higher than a...

1.2K

Loan infection ratio of banking sector rises to 9.3 percent

The banking sector’s infection ratio rose from 8 percent in December 2018 to 9.3 percent at the end of March this year, according to...

389

521 solar projects worth Rs 36 billion launched under SBP’s schemes

Around Rs 36 billion have been extended by various commercial banks for 521 solar projects that will produce approximately 850 MW of...

508

Pakistan’s foreign exchange reserves hit five-year high

Pakistan’s foreign exchange reserves hit a five-year high of $23.2 billion last week with the State Bank of Pakistan crediting the rise...

756

Policy rate to remain unchanged at 7pc: SBP

The Monetary Policy Committee (MPC) of the State Bank of Pakistan has maintained the policy rate at 7 percent. This time, once again...

720

Naya Pakistan Housing: 35,000 units to be constructed after deal inked between LDA, banks

Banks and the public sector have joined hands in order to provide residential facilities to common citizens of the country in Naya...

580

Roshan Digital Accounts attract $480 million from 97 countries in five months

Foreign exchange inflows from overseas Pakistanis under the Roshan Digital Accounts have reached more than $480 million in five months. Dr. Reza...

711

SBP mulls relaxing FE regulations for startups to raise convertible debts

The State Bank of Pakistan (SBP) is considering relaxing rules for startups and fintech companies to raise foreign capital, as it may...

1.1K

NBP branches in Bangladesh, Afghanistan to be closed

Due to the losses, the National Bank of Pakistan (NBP) has decided to shut down its branches in Bangladesh and Afghanistan. During...

1.7K

SBP launches an FX Portal with 11 banks for end-to-end digitalization of FX requests

11 commercial banks have been selected by the State Bank of Pakistan (SBP) in its FX Portal to provide end-to-end digitalization of...

1.3K

SBP launches complaint resolution portal for housing customers

The State Bank of Pakistan (SBP) has introduced a portal for complaint resolution to promote affordable housing in the country. The launching...

1.3K

State Bank of Pakistan denies rumors of limiting ATM cash withdrawal

On Saturday, the State Bank of Pakistan (SBP) made it clear that the ATM cash withdrawal limit was not limited to Rs...

996

SBP issues pilot approvals for payment digitization operations to seven PSO/PSP

In order to create a payment digitalization system landscape, SBP has given its nod to seven new Payment System Operators/Payment Services Providers...

870

SBP declared best central bank for promoting Islamic finance

International Finance News (IFN) has awarded the best Central Bank award to the State Bank of Pakistan (SBP) in promoting Islamic Finance....

1.2K

Raast: Pakistan rolls out new instant digital payment system

Prime Minister Imran Khan on Monday launched the country’s first instant digital payment system called “Raast”, which he said would boost the...

826

SBP grants SadaPay approval to begin pilot operations in 2021

The State Bank of Pakistan (SBP) has decided to give authorization to fintech startup SadaPay to initialize pilot operations next year. The...

2.2K

Government discontinues Rs 25,000 national prize bonds

According to reports, the State Bank of Pakistan (SBP) has decided to discontinue the Rs 25,000 national prize bonds with immediate effect....

701

SBP report shows digital banking fast replacing conventional transactions

State Bank of Pakistan (SBP) on Thursday released its Quarterly Payment System Review for the first quarter of the fiscal year 2020-21,...

725

Deposits Cross $100 Million in Roshan Pakistan Digital Accounts

Dr. Reza Baqir, the Governor of State Bank of Pakistan (SBP) released a statement that Pakistani living in foreign countries deposited $100...

719

Bank Alfalah introduces PM’s Roshan Digital Account for expats in Dubai

Chairman of Bank Alfalah, introduced the Roshan Digital Account in Dubai, an initiative of the Government of Pakistan and State Bank of...

646

State Bank keeps interest rate unchanged at 7 percent

The State Bank of Pakistan kept the main policy rate unchanged at 7 percent, a statement by the central bank said on...

625

Remittances stay over $2bn for fifth month, October grow by 14pc

According to the State Bank of Pakistan, the country’s remittances remained above $2 billion for the fifth consecutive month in October 2020....

661

SECP registers 2,107 new companies in October, up by 26pc compared to 2019

According to the apex corporate regulator, the Security and Exchange Commission of Pakistan (SECP) has registered 2,107 new companies in October 2020,...

705

SBP makes remitting disinvestment proceeds easier to help attract FDI

The State Bank of Pakistan (SBP) announces a new and more “transparent mechanism, with complete delegation to banks” so that remitting disinvestment...

952

Govt issues foreign currency account rules to curb forex buying from open market

According to the foreign currency rules of 2020, there could be no depositing of foreign currency in any person’s foreign currency account,...

1.3K

Commercial Banks asked to shift govts cash resources to SBP

The State Bank of Pakistan (SBP) on Wednesday asked all commercial banks to start channeling government cash resources to its treasury single...

1.6K

Pakistan posts current account surplus for the second month

On Wednesday, the State Bank of Pakistan released data about Pakistan’s current account balance which is still in surplus for the second...

1.1K

State Bank of Pakistan keeps policy rate unchanged at 7pc

On Monday, the State Bank of Pakistan decided to keep its policy rate unchanged at 7 percent in its new monetary policy....

931

Pakistani banks lost billions of rupees in over a dozen cyberattacks

Dr. Inayat Hussain the Executive Director of the Banking Supervision Group in the State Bank of Pakistan has revealed that the Pakistani...

803

FDI increases by 40% in first two months of FY21

According to the State Bank of Pakistan’s (SBP) data, the FDI in the first two months of the ongoing fiscal year FY21...

1.1K

PM launches ‘Roshan Digital Account’ for overseas Pakistanis

The Prime Minister of Pakistan Imran Khan recently launched the ‘Roshan Digital Account’, an initiative that will assist millions of overseas Pakistanis...

815

Govt plans to engage overseas Pakistanis to boost reserves

Government is planning to engage overseas Pakistanis in different ways to boost reserves including through bonds or deposits. State Bank of Pakistan...