News
Cut in National Saving Schemes Profit Rates
Category: News
Recent international and Pakistani news updates regarding Money, Economic, Financial industries including the Central banks and Schedule Banks nad and other Financial and Non financial Institutions.
News, Regulations
With a view to combat the impact of COVID-19 pandemic, the State Bank of Pakistan (SBP) announced various refinance schemes. One of the schemes which received appreciation from the business community is the Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns. This facility provides concessional loans to … Read More “SBP relax requirements for refinance scheme for payment of wages and salaries” »
News, Regulations
SBP reduces Special Cash Reserve Requirement on FE-25 deposits by 5%
News
The World Bank signed an agreement with Government of Pakistan on a new project called “Pandemic Response Effectiveness in Pakistan”. The primary objective of this project is to support the GOP to prepare and respond to the COVID-19 pandemic in Pakistan and strengthen national public health preparedness. The scope of this project will be nationwide, … Read More “World Bank will provide USD 200 million to Pakistan to combat COVID-19” »
Investments, News
The Government of Pakistan is about to launch a new Savings scheme for the overseas Pakistanis. The title of this new scheme is “Overseas Pakistani Savings Bills”. The Ministry of Finance, Government of Pakistan issued draft Rules in this regard on April 8, 2020. According to the draft rules, Non-resident individual Pakistanis (NRIPs) having National … Read More “New Savings Scheme for overseas Pakistanis” »
News
The Executive Board of the International Monetary Fund (IMF) on April 16, 2020 approved an amount of SDR 1.015 billion (USD 1.386 billion) for Pakistan. The request was made by Pakistan under the Rapid Financing Instrument (RFI) lending facility for grant of 50 percent of quota, entitled under the IMF`s COVID response measures. The quota … Read More “IMF approves USD 1.4 billion financial assistance to Pakistan” »
Investments, News
In a situation where the entire world economy is in recession, a good news has emerged today for Pakistani economy on the external front. The Pakistani Rupee appreciated nearly 2% in the inter-bank market and reached Rs. 163.57 on April 17, 2020 against Rs. 166.88 on previous day. The increase in the value of rupees … Read More “Pakistani Rupee appreciated by 3.31 rupees (1.98%) against US dollar” »
News
According to the Bank of Punjab (BOP) letter addressed to The General Manager Pakistan Stock Exchange (PSX), Mr. Zafar Masud has joined as President/CEO of The Bank of Punjab. The appointment has also been cleared by the State Bank of Pakistan under Fit and Proper Test Criteria as required under the SBP Regulatory Regime. Mr. … Read More “Mr. Zafar Masud joined Bank of Punjab as President / CEO” »
News
The IMF Executive Board on April 13, 2020, approved immediate debt service relief to 25 of the IMF’s member countries. The debt relief is approved under the Catastrophe Containment (CC) window of the IMF`s Catastrophe Containment and Relief Trust (CCRT) as part of the Fund’s response to help address the impact of the COVID-19 pandemic. … Read More “IMF Executive Board Approves Immediate Debt Relief for 25 Low Income Countries” »
News
In a statement issued by State Bank of Pakistan, it stated that under the SBP relief package announced in wake of coronavirus disease (COVID-19), 80368 borrowers benefited from deferment of principal repayment amounting to Rs. 20 billion, up till April 10, 2020. Further, advances amounting to Rs. 1.4 billion have been restructured. Moreover, 5126 application … Read More “Significant number of borrowers avail SBP`s relief package of principal deferment facility” »