Cyber-hacking shocks
Banks pay for obsolete security and casual approach Time was when a bank meant a solid institution providing absolute financial security, which one approached with some trepidation for opening an account…
SBP announces to issue Sir Syed commemorative coin
The State Bank of Pakistan (SBP) announced issuing of a Rs50 Sir Syed Ahmed Khan commemorative coin from October 17, the birth anniversary of the renowned Muslim scholar. Sir Syed Ahmed Khan…
Cabinet set to approve forensic audit of all mass transit systems
–Lahore’s Metro Bus & Orange Line Train, Karachi’s Green Line, BRT of Peshawar to come under scanner –Assets Recovery Unit on top agenda in PM Khan-led cabinet meeting ISLAMABAD: The federal cabinet is…
SBP denies reports of change in currency notes
The State Bank of Pakistan (SBP) on Saturday denied reports of a change in currency notes, clarifying that banknotes in the county have not been changed, a private media outlet reported. According…
IHC bins petition challenging SBP governor’s appointment
ISLAMABAD: The Islamabad High Court (IHC) on Tuesday dismissed a petition challenging the appointment of State Bank of Pakistan (SBP) Governor Tariq Bajwa. The petition, filed by 23 senators largely belonging to…
Dams implementation committee’s first meeting held
SC orders efficient fundraising campaign MIRPUR: In the wake of the Supreme Court (SC) of Pakistan’s historic judgement of July 4 aimed at expediting the construction of two mega dams including Diamer…
SBP sends list of 100 defaulters to ECP
The State Bank of Pakistan (SBP) on Monday sent a list of 100 candidates to the Election Commission of Pakistan (ECP) after identifying them as bank defaulters. According to sources, some of…
SC orders SBP to submit report on foreign currency transactions
–Top court asks central bank to submit sealed report within seven days on all transactions above $50,000 made during 2017-18 ISLAMABAD: The Supreme Court (SC) on Thursday ordered the State Bank of…
CJP vows to get money back from those who had loans written off
ISLAMABAD: Chief Justice of Pakistan (CJP) Mian Saqib Nisar said on Thursday that he would penalise and retrieve money from those who got their loans written off by using their influence. While hearing the…
Rupee nosedives to 118 against mighty dollar amid economic strains
SBP says devaluation was triggered by payment pressures building within the market LAHORE: The rupee Tuesday depreciated Rs7.40 against the US dollar ($) after opening at Rs114.00 in ready session, and went as…
SBP freezes Rao Anwar’s bank accounts amid SC orders
KARACHI: The State Bank of Pakistan on Saturday decided to freeze Malir’s former Senior Superintendent Police (SSP) Rao Anwar’s bank accounts. Anwar allegedly killed Naqeebullah Mehsud in a fake encounter, who is…
FIA sends notices to 100 Pakistani investors in Dubai real estate
KARACHI: The Federal Investigation Agency’s (FIA) Anti-Corruption Wing has sent notices to 100 rich Pakistanis, who own properties in Dubai to investigate money laundering from Pakistan to Dubai. The people who were sent…
23 senators challenge SBP governor’s appointment
Counsel says govt avoids proper selection process to appoint Tariq Bajwa’s as central bank’s head ISLAMABAD: As many as 23 senators have moved the Islamabad High Court (IHC) against the appointment of the…
SBP announces Eid holidays
KARACHI: The State Bank of Pakistan (SBP), on Monday, announced public holidays in connection with Eid-ul-Azha that falls on September 2 (Saturday). The bank said issued a press statement, stating that it…
SBP corrects misreported facts
Apropos the news stories covering the visit of Lahore Chamber of Commerce and Industries by State Bank of Pakistan Governor Ashraf Mahmood Wathra and SBP team, some of the facts mentioned during…
FIA arrests suspect in fake receipts scam
The Federal Investigation Agency (FIA) has arrested a man allegedly involved in fake receipts scam, in which several Pakistani politicians received fake bank receipts with transactions worth billions of rupees. According to…
SBP issues revised instructions on independent directors
Since the last financial crisis, most of the countries have revised their regulatory instructions, particularly focusing on the enhanced role of the independent directors in the ever-changing pace of the financial markets.…