SBP to set up centre of excellence in IFE

STAFF REPORT KHIR: State Bank of Pakistan is going to establish the Centre of Excellence in Islamic Finance Education (CEIFE) after getting proposals from the HEC certified universities having business schools.

Finance Minister Ishaq Dar, addressing at the opening ceremony of proposals received to establish a CEIFE expressed his pleasure on the efforts being made to increase the radius of Islamic banking and finance.

He said, both SBP and government are committed for the development

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SBP plans to offer soft loans to small traders

STAFF REPORT SIALKOT: The SBP has a plan to provide soft business loans to enable small traders to expand their businesses.

"The central bank has evolved a comprehensive strategy to give a boost to small industrial estate sector, besides encouraging small traders and industrialists to take full advantage and benefit of the SBP’s soft loans schemes," SBP Deputy Director Iqbal Hussain said this while addressing industrialists in Sialkot.

On the occasion, GCCI President

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Mobile banking poses operational risks: SBP

STAFF REPORT KHI: Mobile banking creates a heightened level of potential operations risk due to which the banking system despite its major transformation remains restricted in its outreach.

"Solutions that work in wired networks may not be sufficient to address risks for application in a wireless environment and the transfer of information from a wired to a wireless environment can create additional risks to the integrity and confidentiality of the information exchanges,"

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E-banking transactions reach Rs. 7.6 trillion: SBP

STAFF REPORT IBD: The value and volume of the overall e-banking transactions in Pakistan increased by 18.02 per cent and 11.31 per cent during Oct 2012 to Dec 2012) to reach Rs 7.6 trillion and 79.45 million respectively as compared to the first quarter, reveals the recent report of the State Bank of Pakistan. Overall 9,896 bank branches out of 10,523 now offer Real-Time Online Branches (RTOB) services across the country. The value and volume of RTOB transactions also increased by 18.82 percent

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SBP terms CLCV major threat to cotton crop

STAFF REPORT IBD: The Studies on Bacillus thuringiensis (Bt) cotton have acknowledged that farmers in Pakistan are not making the most of Bt cotton because the Bt varieties were developed by various private sector plant breeders by transferring Bt trait to locally developed cotton varieties and these varieties are distributed without a formal regulatory framework which raises several concerns about the seed quality.According to the State Bank of Pakistan’s recent report unavailability of

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SBP gets global repute for branchless banking

STAFF REPORT KHI: The State Bank of Pakistan (SBP) has gained international recognition for its regulatory role in microfinance and branchless banking by making an enabling environment for their development in Pakistan.According to an international media report, the World Bank has praised SBP for its innovative approaches in expanding the access to financial services for the unbanked and underserved population of the country."Pakistan has one of the best regulatory environments in the world

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Agri Forum lauds cut in SBP policy rate

STAFF REPORT ISB:  Appreciating the reduction announced by the State Bank of Pakistan in its key policy rate by 150 basis points to 10.5 per cent, the Agriculture Forum Pakistan has said that efforts should be made to bring it to single digit."The downward revision in the interest rate will boost the business activities in the country besides attracting investment and creating more job opportunities for youth," said Chairman Muhammad Ibrahim Mughal while talking to the media.He said

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SBP ups renewable power projects capacity limit

STAFF REPORT KHI: The State Bank of Pakistan (SBP) has enhanced the capacity limit of all renewable power projects from 10MW to 20MW for financing under the Scheme for Financing Power Plants Using Renewable Energy’, says a press release issued here.It Banks/ Development Finance Institutions (DFIs) can consider financing requests of the sponsors, who intend to set up Power Projects up to a maximum capacity of 20MW, using all types of renewable energy sources eligible under the Scheme, says

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