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75 Rupees Note in Pakistan on 75th Anniversary of Country

75 Rupees Note in Pakistan on 75th Anniversary of Country

The State Bank of Pakistan (SBP) plans to issue commemorative banknotes of Rupees 75 to mark the 75th Independence Day of Pakistan. According to ProPakistani.pk, the Cabinet has approved the design of the Rupees 75 banknotes.…

FINANCE
State Bank of Pakistan Extends Banking Hours for Tax Collection | FBR Tax Recovery Target

State Bank of Pakistan Extends Banking Hours for Tax Collection | FBR Tax Recovery Target

In order to facilitate the recovery of Government receipts, duties, and taxes at May 2022 end. State Bank of Pakistan decided that the field offices of SBP Banking Services Corporation (SBP-BSC) and authorized branches of…

FINANCE
State Bank of Pakistan Issues Advisory Against Illegal Foreign Exchange Trading Websites, Apps

State Bank of Pakistan Issues Advisory Against Illegal Foreign Exchange Trading Websites, Apps

State Bank of Pakistan (SBP) has issued an advisory against offshore foreign exchange trading websites and apps and has cautioned people against buying products or services from these platforms. SBP, in a statement, said that…

MARKETS
Official Bank timings for Ramadan Kareem 2022 in Pakistan

Official Bank timings for Ramadan Kareem 2022 in Pakistan

During the Holy Month of Ramadan-ul-Mubarak 2022, the following office hours will be observed in the State Bank of Pakistan, which will also be followed by all banks / DFIs / MFBs. Banks / MFBs…

FINANCE
Minimum Nisab of Zakat deduction in 2022

Minimum Nisab of Zakat deduction in 2022

The State Bank of Pakistan (SBP) has fixed the Nisab for Zakat deduction on bank accounts at Rs88,927 for the ongoing year. According to a statement issued by the Poverty Alleviation and Social Division Wednesday,…

FINANCE
State Bank of Pakistan Eases Conditions for Housing Finance

State Bank of Pakistan Eases Conditions for Housing Finance

The State Bank of Pakistan (SBP) relaxed financing conditions for housing units in under construction projects. The State Bank of Pakistan (SBP) issued a circular dated February 25, 2022 to ease the conditions for house…

FINANCE
What is Raast? How will it help to Citizens of Pakistan?

What is Raast? How will it help to Citizens of Pakistan?

Raast – Pakistan’s First Instant Digital Payment System Raast is Pakistan’s No. 1 instant digital payment system. It enables end-to-end digital payments between individuals and businesses all over the Pakistan. The Raast payment system was…

FINANCE
Senate Finally Passes Controversial State Bank Amendment Bill

Senate Finally Passes Controversial State Bank Amendment Bill

The Senate has officially passed the State Bank of Pakistan Amendment Bill in a session in Islamabad today. The session was presided over by Senate Chairman Sadiq Sanjrani and the bill was presented by the…

FINANCE
State Bank to Issue New Licenses to 5 New Digital Banks

State Bank to Issue New Licenses to 5 New Digital Banks

The State Bank of Pakistan (SBP) will soon embark upon a journey toward an advanced banking system in the country by issuing licenses for setting up digital banks. In the first phase, the regulatory authority…

Businesses
New definition of ‘exported goods’ as per SRO issued by FBR

New definition of ‘exported goods’ as per SRO issued by FBR

The Federal Board of Revenue (FBR) has changed the definition of the exported goods for claiming duty drawback covering supplies against international tenders or supply to industrial units, projects, institutions, agencies, and organisations. The FBR…