Pakistan Credit Rating Agency Limited maintains entity ratings of Al-Abbas Sugar Mills Limited

Lahore, March 31, 2016 (PPI-OT):The Pakistan Credit Rating Agency (PACRA) has maintained the long term and short term entity ratings of Al-Abbas Sugar Mills Limited (AASML) at ‘A’ (Single A) and ‘A1′(A One) respectively. The ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.
The ratings reflect AASML’s significantRead More…

Conversion rates of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special United States Dollar Bonds and profit thereon May 22, 2015

Karachi, May 22, 2015 (PPI-OT): The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S Dollar Bonds and profit thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E-25 deposits) by the State Bank on May 25, 2015. Currency Rate in Pak Rupee U.S. DoRead More…

State Bank of Pakistan rates for conversion of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special United States Dollar Bonds and profit thereon February 06, 2015

Karachi, February 06, 2015 (PPI-OT): The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S Dollar Bonds and profit thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E-25 deposits) by the State Bank on February 9, 2015. Currency Rate in Pak RupeeRead More…

Omo Result

Karachi: State Bank of Pakistan conducted its Open Market Operations under Repo Sale contracts of Government of Pakistan Market Treasury Bills on March 13, 2012. Bids received and accepted are given below:
Bid range:
  3-Days Repo Sale (Mop up)
10.25%
– 11.50% (Mop-Up)
Amount Accepted
 Amount
Offered
    Rate of (Rs. in millions)
   (Rs. in millions)
Return
(% p.a.) 03-Days
  5,000.00
  3,000Read More…

Branchless Banking network expands by 16 percent to 22,512 in second quarter of FY12: State Bank of Pakistan publication

Karachi: The Branchless Banking (BB) network in Pakistan expanded by 16 percent in the second quarter (October- December 2011) of the current fiscal year (2011-12) to reach 22,512 agents covering the entire length and breadth of the country, says State Bank’s ‘Branchless Banking Newsletter’ released today.
According to the publication, the number of Branchless Banking accounts increased by 40 percenRead More…

Prudential Regulations M-1 to M-5

Karachi: This refers to Prudential Regulations M-1 to M-5 for Corporate/Commercial Banking and other related regulations on governance along with instructions issued on the subject from time to time.
2. In order to protect Banks/DFIs from risks arising out of money laundering and terrorist financing activities, implementation and strict compliance of the following needs to be ensured.
a) Banks/DFIs should conduct enhRead More…

Workers’ remittances rise over 23% to $8.59 billion in first eight months of FY12

Karachi: Overseas Pakistani workers remitted an amount of $8,592.79 million in the first eight months (July 2011 – February 2012) of the current fiscal year 2011‐12 (FY12), showing an impressive growth of 23.40 percent or $1,629.51 million when compared with $6,963.28 million received during the same period of the last fiscal year (July- February 2011).
Remittances received from all countries of the world showed Read More…

Workers’ remittances rise over 23% to $8.59 billion in first eight months of FY12

Karachi: Overseas Pakistani workers remitted an amount of $8,592.79 million in the first eight months (July 2011 – February 2012) of the current fiscal year 2011‐12 (FY12), showing an impressive growth of 23.40 percent or $1,629.51 million when compared with $6,963.28 million received during the same period of the last fiscal year (July- February 2011).
Remittances received from all countries of the world showed Read More…