Karachi, August 26, 2022 (PPI-OT):State Bank of Pakistan (SBP) has assigned annual agriculture credit disbursement target of Rs 1,800 billion to the financial institutions for FY23 to cater to the agriculture credit demand in the country. Moreover, in line with...
Karachi, August 08, 2022 (PPI-OT):When a customer receives funds from abroad in his/her account in PKR, banks issue them a proof of funds received called Proceeds Realization Certificate (PRC). On the instructions of State Bank of Pakistan (SBP), banks have...
Karachi, August 04, 2022 (PPI-OT):The State Bank of Pakistan (SBP) on August 04, 2022 has advised M/s TAG Innovation Pvt. Ltd., currently in pilot stage of Electronic Money Institution (EMI) licensing process, to refund all outstanding funds to its wallet...
Karachi, August 03, 2022 (PPI-OT):Dr. Murtaza Syed, Governor (A) State Bank of Pakistan (SBP) has announced the formation of a committee and appointment of an SBP liaison officer for close coordination with the Federation of Pakistan Chambers of Commerce and...
Karachi, August 03, 2022 (PPI-OT):In view of recent volatility in the exchange rate and the difference between the interbank rate and the rate offered by Exchange Companies (ECs) and banks to their customers, State Bank of Pakistan (SBP) has increased...
Karachi, July 31, 2022 (PPI-OT): 1. Pakistan’s problems are temporary and are being forcefully addressed. Pakistan’s foreign exchange reserves have fallen since February as foreign exchange inflows have been outpaced by outflows. The inflows mainly comprise of multilateral loans from...
Karachi, July 18, 2022 (PPI-OT): In June, remittances rose to $2.76 billion, increasing by 18.4 percent on m/m basis and 1.7 percent on y/y basis. In June, remittances were mainly sourced from Saudi Arabia ($666 million), United Arab Emirates ($495...