Pakistani rupee, the cheapest currency in South Asia: Report
The International Monetary Fund (IMF) has currently projected Pakistan’s current account deficit will contract from 5.9 percent of GDP in 2018 (the worst in emerging markets) to 5.3 percent of GDP in 2019 (again the worst in EM)
SBP drafts regulations for EMIs
These regulations outline minimum requirements for establishment and operations of EMIs
Central bank to auction Rs4.9 trillion worth of debt instruments in Oct-December 2018
The raising of the new debt via PIBs and MTBs will help the government to partially plug in the deficit in budgetary financing, which economists worry will be higher than the target of Rs2 trillion for FY19
SBP notifies new rules for recovering loans from defaulted mortgagees
Previously, the banks were only permitted to auction mortgaged property after the conclusion of the due process
Pakistan’s forex reserves decrease by $628mn in a week
The State Bank disclosed that its reserves decreased due to payments on account of external debt servicing.
Syed Amir Ali takes over as CEO of BankIslami
In April, BankIslami had announced Syed Amir Ali would be appointed as the new CEO of BankIslami in place of Hasan A. Bilgrami.
ADB approves access to information policy to ensure transparency
ISLAMABAD: The board of directors of the Asian Development Bank (ADB) has approved a new ‘Access to Information Policy’ that aims to maintain...
Mobile banking transactions grow by 195pc
ISLAMABAD:Â With a significant growth of some 195 per cent, mobile phone banking transactions in Pakistan had crossed the Rs410 billion mark in...
Govt’s debt situation laid bare by Economic Affairs Division
PTI government takes no commercial loans during August 2019
ISLAMABAD: The Pakistan government’s debt situation was laid bare by the release of data...
Citigroup pays $12 million to settle dark pool probe
The regulator also found that Citigroup Global did not disclose that over a period of more than two years, nearly half of its dark-pool orders were routed to and executed on other trading venues that did not offer the same premium features as Citi’s.
Market Daily: Bears dominate end of week as PSX loses 129.60 points
LAHORE: Pakistan Stock Exchange (PSX) managed to end the week in red as bears dominated the session on Friday.
As per reports of...
Pakistan’s foreign reserves decline by $300mn
The liquid foreign exchange reserves of the country declined by $300 million to $16.069 billion by the week ended September 7, 2018,...
SECP, NACTA guide non-profits on AML/CFT pitfalls
STAFF REPORTÂ
ISLAMABAD:Â In collaboration with the National Counter Terrorism Authority (NACTA), the SECP organised an awareness session to sensitize the not-for-profit organizations (NPOs)...
‘World less equipped to manage major financial crisis’, former IMF chief’s dire warning
Populism everywhere is the direct outcome of the 2008 financial crisis
The world is less well equipped to manage a major financial crisis...
SBP denies rumours about discontinuation of Rs5000 banknotes
The central bank said in case of demonetization of any bank note, it announces it in advance and gives ample time to the public to change the currency under demonetization process