This category includes new and latest regulations/policies regarding Banking, Economy and Financial Sectors. The regulations also consist of new releases from Central Banks from other countries and Pakistan.
The Securities and Exchange Commission of Pakistan (SECP), the apex regulator, has advised all the listed companies to ensure virtual participation of members / shareholders in the Annual General Meeting (AGM) through electronic means such as video-link, webinar, or other electronic as a regular feature with immediate effect. The primary objectives of these instructions are … Read More “Virtual participation in AGMs a regular feature now” »
Ways to find out if you are a filer or non filer. Online & SMS
The State Bank of Pakistan (SBP) issued instructions on February 18, 2021 to all Banks, DFIs, MFBs, NBFCs and Modarabas regarding quality data reporting in the Electronic Credit Information Bureau (eCIB). These instructions have been issued after conducting an in-depth assessment of the mechanisms put in place for eCIB data feeding, compilation, validation and reporting … Read More “SBP issues Instructions for Quality Data Reporting in ECIB” »
Alternate Dispute Resolution (ADR) is a system introduced by the Federal Board of Revenue (FBR) whereby the taxpayer can refer the contentious issues for consideration and recommendations of the independent experts on the subjects of Income Tax, Sales Tax, Customs and Federal Excise Duty (FED) and make an out of court settlement with the tax … Read More “What is FBR’s Alternative Dispute Resolution (ADR) Mechanism” »
The government of Pakistan carried out various amendments in Companies Act 2017 through promulgation of Companies (Amendment) Ordinance, 2020. The Ordinance received go ahead by the President of Pakistan on recommendation of Securities Exchange Commission of Pakistan (SECP). The amendments will provide an enabling regulatory framework to facilitate startups in Pakistan and attract local and … Read More “Amendments undertaken in Companies Act to facilitate Startups” »
We have witnessed a drastic development and innovations in the digital payments especially in the recent few years. One of the area that has gained vast popularity is the crypto or virtual currencies. A cryptocurrency is a form of virtual currency or electronic money, working on a P2P basis, which allows users to transfer funds … Read More “Crypto-currency and Pakistan: what is crypto-currency and its legal status in Pakistan?” »
As per a press statement issued by SBP, all commercial banks / Development Financial Institutions (DFIs) have been advised to suspend payments of dividend for the two quarters ending March and June 2020. However, banks/DFIs that have approved dividend declaration for quarter ended March 2020 have been advised to suspend dividend distribution for June and … Read More “SBP advised Banks / DFIs to suspend dividend Payments” »
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” »
SBP reduces Special Cash Reserve Requirement on FE-25 deposits by 5%
Economic activity across the globe has come to a standstill as the COVID-19 pandemic situation is not normalizing. The International Monetary Fund (IMF) has stated that this economic situation will be the worst downturn since the Great Depression. The recovery of this situation will depend on the policy measures taken by the respective governments and … Read More “Policy decisions by Central Banks / Monetary Authorities to combat economic fall-out of COVID-19” »
