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SBP advises banks to increases Islamic banking services

SBP advises banks to increases Islamic banking services

The State Bank of Pakistan on Wednesday issued instructions for the banks to promote and increase the share of islamic banking in the country. “Keeping in view the significant potential of Islamic Banking Windows (IBWs)

No monetary policy till September, says State Bank

No monetary policy till September, says State Bank

The State Bank of Pakistan on Thursday said that it will not hold the scheduled monetary policy meeting in August given the meetings that have taken place in recent months.  “Given the number of MPC

Pakistan Post to become a Pakistan Post Bank

Pakistan Post to become a Pakistan Post Bank

The government on Monday said the country’s postal service “Pakistan Post” will now be turned to the Pakistan Post Bank after international financial regulators raised questions over the lack of documentation with respect to the

SBP announces surprise 100 basis point rate cut

SBP announces surprise 100 basis point rate cut

The State Bank of Pakistan (SBP), in a surprise monetary policy committee (MPC) meeting on Thursday, cut the interest rate by 100 basis points to seven per cent.  Thursday’s cut is fifth in the last

SBP fixes Nisab for Zakat deduction on bank accounts

SBP fixes Nisab for Zakat deduction on bank accounts

On Monday, the SBP fixes Nisab for Zakat deduction on bank accounts as the RS46329 for the current year to be nisab for Zakat, according to a declaration. SBP/ Handout through The News "No deduction of