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SBP suspends Islamabad Exchange Company (Pvt) Limited for violation of monetary rules
Karachi : The State Bank of Pakistan has suspended the authorization of Exchange Company namely M/s
Islamabad Exchange Company (Pvt.) Limited with immediate effect till further orders, upon violations
of SBP rules and regulations.…
SBP on path to major financing share for women: Deputy Governor Saleem Ullah
Islamabad : State Bank of Pakistan (SBP) Deputy Governor , Saleem Ullah , on Wednesday informed a session of Sustainable Development Policy Institute (SDPI) that the central bank was taking extraordinary measures to ensure women…
SBP Grants Licenses to Four Financial Institutions to Boost E-Payments in Pakistan
KARACHI, November 6, 2024: The State Bank of Pakistan (SBP) has issued licenses to four financial institutions to advance the country’s electronic payment systems, signaling a significant rise in digital payment adoption nationwide.…
Govt Proposes Amendments to SBP Act, Opening Door for Digital Currencies
ISLAMABAD, November 4, 2024: The federal government has proposed amendments to the State Bank of Pakistan (SBP) Act that would allow dual nationals to serve as governors and deputy governors of the central bank.
In a significant shift,…
Faysal Bank Joins Zaman Foundation for Tharparker Water Initiative
Islamabad: With a solar-powered Reverse Osmosis (R.O.) water filtration system, Faysal Bank Limited (FBL), one of Pakistan's top Islamic banks, is honored to partner with the Zaman Foundation to provide the residents of Ramiyo Gajju with…
Bank Alfalah Launches Alfa App with Pakistan’s First Digital Kiosk
Islamabad: One of Pakistan's top commercial banks, Bank Alfalah, announced the release of Alfa, a new mobile banking app. The goal of New Alfa is to encourage financial inclusion in Pakistan by means of digitization.
Alfa is a popular…
SBP Governor Highlights Economic Recovery, Targets $13 Billion in Reserves
KARACHI, October 27, 2024 — State Bank of Pakistan (SBP) Governor Jameel Ahmad provided an optimistic outlook on Pakistan's economy, highlighting significant improvements in key economic indicators during recent meetings with international…
VISA and Pakistani Government Collaborate to Enhance Financial Inclusion
WASHINGTON, October 26,2024: Federal Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, met with Mr. Andrew Torre, Regional President for VISA, to discuss advancements in Pakistan’s payments ecosystem.
The Minister commended VISA…
Mashreq Bank’s New Initiatives in Pakistan to Expand Business
Islamabad: Mashreq Bank is one of the top banks in the MENA area. It is growing its business in Pakistan and will open a new office soon.
On Thursday, in a meeting with Mashreq Bank's leadership, Finance Minister Muhammad Aurangzeb…
Pakistan’s Primary Balance Posts Surplus After 17 Years
ISLAMABAD: The State Bank of Pakistan (SBP) released its Annual Report on the State of Pakistan’s Economy for fiscal year 2023-24, noting improvements in macroeconomic conditions driven by stabilization policies, successful IMF engagement,…
