The National Bank of Pakistan (NBP) has achieved a significant regulatory milestone by ending two long-standing enforcement actions by the US Federal Reserve. This development represents a pivotal moment in the bank’s efforts to enhance compliance and governance across its operations. The Federal Reserve announced that the cease and desist order, which had been in … Read more
State Bank of Pakistan (SBP) Governor Jamil Ahmad announced that a drop in the key interest rate to 13% will save the government Rs1.5 trillion in interest payments during the current fiscal year (FY25). Speaking to a private news channel, the Governor of the State Bank of Pakistan said that this saving will support the … Read more
IslamabadState Bank of Pakistan Governor Jamil Ahmed expects a temporary rise in inflation over the next three to four months, after a period of relief brought about by policy measures. Speaking on a television program on Monday, Ahmed attributed the expected rise to the “end of fundamental effects” and other upcoming factors. The governor stressed … Read more
Pakistan’s total liquid foreign reserves fell to $15.93 billion as of November 1, 2024, representing a decline from the previous week’s $16.05 billion, according to recent data released by the State Bank of Pakistan (SBP). The latest figures show that the State Bank of Pakistan holds $11.17 billion of the total, while commercial banks hold … Read more
The State Bank of Pakistan logo on the reception desk at the head office in Karachi, Pakistan, July 16, 2019. — Reuters The State Bank of Pakistan (SBP) on Monday cut its key interest rate by 250 basis points to 15%, the fourth straight cut as inflation remains in single digits until October. Analysts as … Read more