National Savings Schemes – Special Savings Certificates (SSCs)

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Investments, Reviews

National Savings Schemes are a popular investment option among individuals in Pakistan, including Special Savings Certificates (SSCs) offered by the National Savings Organization of Pakistan. SSCs are considered a secure investment option that provides a fixed rate of return over a predetermined period. These certificates can be purchased by individuals, as well as institutions, and … Read More “National Savings Schemes – Special Savings Certificates (SSCs)” »

World Bank will provide USD 200 million to Pakistan to combat COVID-19

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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” »

New Savings Scheme for overseas Pakistanis

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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” »

IMF approves USD 1.4 billion financial assistance to Pakistan

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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” »

What is IMF`s Rapid Financing Instrument (RFI)

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Regulations, Reviews

The Rapid Financing Instrument (RFI) is a lending facility of the International Monetary Fund (IMF) under which the IMF provides rapid financial assistance to its member countries facing an urgent balance of payments need. This facility is available to all members unlike the Catastrophe Containment (CC) window of the Catastrophe Containment and Relief Trust (CCRT) … Read More “What is IMF`s Rapid Financing Instrument (RFI)” »

Pakistani Rupee appreciated by 3.31 rupees (1.98%) against US dollar

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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” »

Mr. Zafar Masud joined Bank of Punjab as President / CEO

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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” »

IMF Executive Board Approves Immediate Debt Relief for 25 Low Income Countries

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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” »

Significant number of borrowers avail SBP`s relief package of principal deferment facility

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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” »