State Bank of Pakistan
Punjab to Launch Electric Buses in Two Major Cities
LAHORE: To address traffic congestion, environmental challenges, smog, and related issues, the Punjab government has initiated the purchase of electric buses for Faisalabad and Bahawalpur,…
Is the 5,000 Rupee Note Being Discontinued Soon?
ISLAMABAD: Several Members of Parliament (MPs) and government officials have recently expressed their opinions that the 5,000 rupee note should be abolished, citing concerns over…
UBL and Silk Bank to Finalize Merger Through Share Swap
The merger between Silk Bank Limited (SILK) and United Bank Limited (UBL) has been approved by both parties. UBL, one of Pakistan’s largest commercial banks,…
NBP Branch Sealed by SBP Over Alleged Rs. 2 Million Fake Currency Scandal
HAFIZABAD: The State Bank of Pakistan (SBP) has closed the Hafizabad branch of the National Bank of Pakistan (NBP) after detecting Rs. 2 million in…
Bank Alfalah Gains Approval to End Operations in Bangladesh
Bangladesh Bank and State Bank of Pakistan have both given Bank Alfalah Limited (PSX: BAFL) in-principle authority to exit Bangladesh. Since BAFL is going to…
First Quarter Sees 60% Decrease in Foreign Aid to Pakistan
ISLAMABAD: In the first quarter of the current fiscal year (July-September), Pakistan’s foreign assistance inflows dropped 60% to $2.3 billion, from approximately $5.73 billion in…
State Bank of Pakistan launches challenge fund to boost digitalization in SMEs
The State Bank of Pakistan (SBP) has unveiled a new Challenge Fund aimed at fostering technology adoption and digitalization among small and medium enterprises (SMEs).…
Siemens Pakistan announces sale of energy portfolio to Siemens Gamesa for Rs17.82 Billion
Siemens (Pakistan) Engineering Co. Ltd (SIEM) has declared the approval of the Board of Directors(BoD) for the sale of its energy portfolio to Siemens Gamesa…
Paper-Based Transactions Decline for Second Year; Retail Payments Reach 6.4 Billion in FY24
The State Bank of Pakistan (SBP) has recently published its payment system review for fiscal year 2024, and the statistics show that the paper-based payment…
SBP is Working on Pakistan’s First Ever Digital Currency
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…
Pakistan Announced Fresh Ban On Crypto:But Adoption As A Hedge Remains Popular
Aisha Ghaus Pasha, Minister Of State for Finance and Revenue, stated: “Cryptocurrency will never be legalized in Pakistan.” Pakistan’s government has hardened its stance against…
FBR Just Launched a Currency Declaration App for International Travelers
Named ‘Pass Track’, the application is designed to facilitate passengers by making currency declaration easier The Federal Board of Revenue, FBR has just launched an…
E-Processing Systems Secures Approval to commence pilot operations as an Electronic Money Institute
E-Processing Systems Pvt. Ltd. has been granted approval by the State Bank of Pakistan to launch pilot operations as an Electronic Money Institute (EMI). With…
