The State Bank of Pakistan (SBP) has announced that it, along with all banks, development finance institutions (DFIs) and microfinance banks (MFBs), will remain closed for public dealings on Wednesday, January 1, 2025, for bank monitoring. vacation. In a notice issued on Saturday, the central bank clarified that although banks will not be open to … Read more
National Power Parks Management Company (Private) Limited (NPPMCL), a government-owned independent power producer (IPP), has invited the State Bank of Pakistan (SBP) to approve the transfer of US$4.7 million to General Electric (GE) for… Maintenance work. Of power plants powered by liquefied natural gas (RLNG). According to media reports, the payment delay is due to … Read more
Hafizabad: The State Bank of Pakistan (SBP) has closed the Hafizabad branch of the National Bank of Pakistan (NBP) after counterfeit notes totaling Rs. 2 million found. The counterfeit currency was deposited through a private bank, raising major concerns about oversight of banking procedures. As a result of this serious error, the SBP imposed Rs. … Read more
The State Bank of Pakistan on Friday issued a commemorative coin on the occasion of the 555th Jayanti (birth anniversary) of Guru Nanak Dev Ji, the founder of the Sikh religion. Nanak’s birth anniversary was held at Gurdwara Janamashtham Nankana Sahib last week, where Sikh yatris from all over the world, including India, performed religious … Read more
Islamabad: The State Bank of Pakistan (SBP) has officially issued a license to E-Processing Systems Private Limited (EPSPL), allowing the company to begin business operations as an Electronic Money Institution (EMI). With this approval, EPSPL joins four other EMI companies – NayaPay Private Limited, Finja Private Limited, SadaPay Private Limited and Akhtar Fuiou Technologies Private … Read more
State Bank of Pakistan building in Karachi. – Application/File The direction issued in the case of Azmat Khan v. State Bank of Pakistan. PIC rejected SBP’s appeal, arguing that there were no valid reasons. SBP’s legal team is awaiting formal orders from the PIC regarding disclosure. LAHORE: The Pakistan Information Commission (PIC) on Saturday directed … Read more
State Bank of Pakistan building in Karachi. – Application/File KARACHI: The State Bank of Pakistan (SBP) on Thursday announced that banks will remain closed on November 9 on the occasion of Iqbal Day, the birth anniversary of poet of the East Muhammad Iqbal. November 9 is celebrated as “Iqbal Day” across Pakistan on the occasion … Read more
In this photo, the State Bank of Pakistan building in Karachi can be seen. – SBB/website Macroeconomic conditions in Pakistan improved during FY 2023-24 due to a range of reasons, including successful engagement with the IMF. In its annual state of Pakistan’s economy report for the fiscal year 2023-24, the State Bank of Pakistan (SBP) … Read more