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Budgetary support: Govt borrows Rs500bn from banks in 2 weeks: SBP

Says federal government's borrowing for budgetary support rose by 218 percent during the initial two weeks of this fiscal year

Updated 26 Jul, 2023 01:00pm

Business & Finance

Publication on banking sector released: ‘Financial inclusion remains a challenge’

KARACHI: The financial inclusion remains a challenge for Pakistan with lower financial, women and rural inclusion...

Published 15 Jul, 2023 06:08am

Business & Finance

EU agrees tougher rules on banks

BRUSSELS: The EU struck a deal on Tuesday to implement internationally-agreed banking reforms intended to avert a...

Published 28 Jun, 2023 06:31am

Opinion

Unmasking regressive banking

In today’s fast-paced world marked by technological advancements and social progress, the banking industry has...

Published 21 Jun, 2023 06:00am

Business & Finance

Banks to collect duties/taxes on 24th

KARACHI: In order to facilitate the taxpayers in payment of Government duties/taxes, the State Bank of Pakistan has...

Published 20 Jun, 2023 03:16am

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WHT deduction, monitoring: 34 banks declared SWAPS agents

ISLAMABAD: The Federal Board of Revenue (FBR) has declared 34 banks as ‘SWAPS’ agents (withholding agents) for the...

Updated 18 Jun, 2023 10:05am

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Banks recording WHTs on real-time basis, FBR informs FTO

ISLAMABAD: The Federal Board of Revenue (FBR) has informed the Federal Tax Ombudsman (FTO) that all bank branches...

Updated 18 Jun, 2023 10:09am

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Additional advances to IT ITeS: 20pc concessionary tax rate on banks’ income proposed

KARACHI: The federal government has proposed concessionary tax rate for banks income from additional advances to...

Updated 10 Jun, 2023 08:51am

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Banks disburse Rs1.222trn agri credit

KARACHI: With 27.5 percent growth, the agriculture lending financial institutions have disbursed Rs 1.222 trillion...

Updated 09 Jun, 2023 08:57am

Business & Finance

SBP for submission of FCY cross- border payments/ transfer cases

KARACHI: The State Bank of Pakistan (SBP) has asked for submission of FCY Cross Border Payments Cases through SBP...

Published 07 Jun, 2023 06:05am

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IPSs settlement: Banks can buy dollars from interbank market: SBP

KARACHI: The State Bank of Pakistan (SBP) Wednesday allowed banks to purchase US dollars from interbank for...

Updated 01 Jun, 2023 09:04am

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Budget proposals by PBA: FBR urged to gradually reduce tax rate for banks

KARACHI: Pakistan Banks Association (PBA), demanding a level playing field, has proposed to the Federal Board of...

Updated 26 May, 2023 08:52am

Business & Finance

Q1CY23: SBP imposes fines on five banks

KARACHI: The State Bank of Pakistan (SBP) has imposed Rs 224 million fines on five banks during the first quarter...

Published 25 May, 2023 06:26am

Business & Finance

Inflation fight risks central banks’ credibility and autonomy, BIS warns

LONDON: The credibility and independence of central banks around the world is at risk if stubbornly-high global...

Published 22 May, 2023 06:23am

Business & Finance

SBP invites applications for selection of PDs

KARACHI: The State Bank of Pakistan (SBP) has invited applications for selection of Primary Dealers/Preliminary...

Published 13 May, 2023 05:59am

Editorials

Banks, not savers, get paydays from deposits?

EDITORIAL: In a rising interest rate environment, some commercial banks have been trying to forcefully convert the...

Published 08 May, 2023 06:40am

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Listed banks: High interest rate brings in record profitability

KARACHI: Pakistan listed banks profitability increased to record Rs 126 billion, up 56 percent on year-on-year basis...

Updated 04 May, 2023 09:15am

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Banks told to transfer EDS deductions to SBP

KARACHI: The State Bank of Pakistan (SBP) has directed banks to transfer the consolidated amount of Export...

Updated 21 Apr, 2023 08:53am

Business & Finance

EU plans to prevent taxpayer cash being used to save failing banks

BRUSSELS: The European Union on Tuesday proposed making it harder for states to pour billions of euros of aid into ...

Published 19 Apr, 2023 06:36am

Business & Finance

Banks, DFIs with Rs500bn or above assets: SBP extends date for implementation of IFRS 9

KARACHI: The State Bank of Pakistan (SBP) has extended the date for the implementation of International Financial...

Published 14 Apr, 2023 05:59am

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Core banking systems: SBP asks banks to submit FERs data

KARACHI: The State Bank of Pakistan (SBP) has asked banks to submit data of Foreign Exchange Returns (FERs) prepared...

Updated 13 Apr, 2023 08:49am

Business & Finance

Germany warns EU over tampering with schemes for struggling banks

LONDON: Germany has told the European Union not to tamper with rules that allow banks which are part of a network...

Published 10 Apr, 2023 06:45am

Business & Finance

Hajj 2023: Banks receive nearly 73,000 applications

Government's Regular Scheme quota is 44,190

Updated 01 Apr, 2023 09:06pm

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Probe into T-bill bids: Senate panel urged to direct SBP to assist CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) Chairperson Rahat Kaunain Hassan has approached the Senate...

Updated 31 Mar, 2023 08:54am

Business & Finance

India asks state-run banks to monitor top loan accounts

MUMBAI: India has asked state-run lenders to adopt stricter monitoring of top corporate loan accounts and submit a...

Published 30 Mar, 2023 06:35am

Pakistan

Banking hours in Ramazan

KARACHI: The State Bank of Pakistan (SBP) has announced office and business hours for the Month of Ramazan ul ...

Updated 23 Mar, 2023 06:15am

Business & Finance

Bank holiday

KARACHI: The State Bank of Pakistan (SBP) will remain closed for public dealing on Friday, March 24, 2023, which...

Published 22 Mar, 2023 07:41am

Business & Finance

Bank holiday

KARACHI: The State Bank of Pakistan (SBP) and all banks will remain closed on 23rd March, 2023 (Thursday) being...

Published 21 Mar, 2023 07:30am

Markets

Rupee continues to fall, settles at 282.3 against US dollar

Currency loses 1.13% against US dollar in inter-bank market

Updated 09 Mar, 2023 06:50pm

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Forex manipulation: SBP governor says probe against banks completed

ISLAMABAD: Governor of the State Bank of Pakistan (SBP) Jameel Ahmad on Wednesday said that the inquiry report...

Updated 09 Mar, 2023 08:55am