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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