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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…

Financing limit for solar, wind projects doubled

Financing limit for solar, wind projects doubled

The State Bank of Pakistan (SBP) on Wednesday enhanced the scope of its Refinance Scheme for Renewable Energy by allowing financing under category III of the scheme to solar and wind based energy sale companies…

Pakistan’s remittances rise to record $23 billion

Pakistan’s remittances rise to record $23 billion

Pakistan received a record $23 billion in remittances during the July 2019 to June 20 despite the Covid-19 shock to the global economy in Jan- June 2020 period, the latest data released by the State…

Pakistan’s stock market posts record gain

Pakistan’s stock market posts record gain

Pakistan’s stock market is on a roll. The benchmark KSE-100 index has gained for 11 consecutive days — the longest rally since January 2018 after it closed the Friday’s session up by 48.24 points or…

SBP extends deadline for debt deferment facility

SBP extends deadline for debt deferment facility

The State Bank of Pakistan (SBP) on Wednesday extended the deadline for the debt deferment facility till September 30 allowing small and medium enterprises to defer payments on their loan principals.  “Considering the fact that…

Rupee recovers lost ground to the dollar

Rupee recovers lost ground to the dollar

The local currency on Thursday gained Rs1.20 against the dollar with exchange rate reverting back to Rs167.20 compared to Rs168.20 on Wednesday.  The Exchange Companies Association of Pakistan said the rupee recouped earlier losses on…

Prices control in Ramzan go out of hand

Prices control in Ramzan go out of hand

The monthly inflation-based consumer price index (CPI) decreased in April Prices control in Ramzan go out of hand. Pulses, fruits, poultry, drugs, sugar became pricier as vegetables, milk, wheat, petroleum products and electricity prices decreased.…