SBP
Pakistan’s October 2024 Remittances Hit $3.05bn, Reflecting 24% Annual Growth
2 min read
The State Bank of Pakistan (SBP) released data indicating that the inflow of overseas workers’ remittances into Pakistan was $3.052 billion in October 2024, a…
SBP Reserves Surge to $11.17 Billion Following Latest Boost
2 min read
The State Bank of Pakistan (SBP) reports a weekly increase of $18 million in foreign exchange reserves, as shown in data released by the central…
Banks in Pakistan to Observe Holiday on November 9th, 2024
2 min read
The State Bank of Pakistan (SBP) has announced that all banking and financial institutions will remain closed on November 9th, 2024, in observance of Allama…
IT Ministry Proposes Tax Relief and Support Measures to Boost IT Exports and Freelance Sector
3 min read
The Ministry of Information Technology and Telecom has put forward a set of proposals aimed at boosting Pakistan’s IT export potential while creating a more…
Silkbank Receives Board Approval for Merger with UBL
2 min read
On November 6, 2024, the board of directors of Silkbank Limited (PSX: SILK) granted in-principle approval for a potential merger with United Bank Limited (PSX:…
SBP Grants In-Principle and Pilot Operations Approvals to EMIs and PSOs/PSPs
2 min read
The State Bank of Pakistan (SBP) has granted in-principle approval to Toko Lab Private Limited and Accept Technologies Private Limited (PayMob) for establishing their operations…
SBP Chief Reports October Remittances Exceed $3 Billion
3 min read
KARACHI: The State Bank of Pakistan (SBP) is anticipating $500 million from the Asian Development Bank (ADB) this week, and higher foreign inflows are expected…
SBP Eases Policy Rate by 2.5% as Inflation Shows Steady Decline
3 min read
The Monetary Policy Committee (MPC) of the State Bank of Pakistan decided to cut the policy rate by 250 basis points to 15 percent, effective…
Pakistan to Legalize Bitcoin and Cryptocurrency Through SBP Act Amendments?
3 min read
The federal government has proposed amendments to the State Bank of Pakistan (SBP) Act aimed at legalizing digital currencies such as Bitcoin and cryptocurrency in…
KSE-100 Breaks Record, Exceeds 87,000 in Historic High
2 min read
KARACHI: The Pakistan Stock Exchange’s (PSX) KSE-100 Index reached a record high on Wednesday, fueled by optimism in the capital market. Expectations of a reduction…
Pakistan Sets January 2028 Deadline to Eliminate Interest-Based Banking
2 min read
The 26th Constitutional Amendment Bill, 2024, passed today in the early hours has provided a time frame of 1st January 2028 for the eradication of…
Raast Payments Reach Rs1 Trillion in Just 16 Days
4 min read
KARACHI: Pakistan has seen a significant shift toward digital payment solutions, with citizens transacting Rs1 trillion in just 16 days through the instant payment system…
SBP is Working on Pakistan’s First Ever Digital Currency
2 min read
Getting its own CBDC (Central Bank Digital Currency) would give Pakistan a number of benefits including easier digital payment, easier remittance, higher efficiency and increased…
