Karachi, January 13, 2023 (PPI-OT):State Bank of Pakistan (SBP) has issued no objection certificates to the following five (05) applicants for establishing digital banks: (i) Easy Paisa DB (Telenor Pakistan B.V and Ali Pay Holding Ltd.)1 ; (ii) Hugo Bank (Getz Bros and Co., Atlas Consolidated Pte. Ltd. and M

Karachi, January 13, 2023 (PPI-OT):1. Workers’ remittances recorded an inflow of US$2.0 billion during Dec 22. 2. During Dec 2022, remittances decreased by 3.2 percent on m/m and by 19.0 percent on y/y basis. 3. With cumulative inflow of US$ 14.1 billion during H1FY23, the remittances decreased by 11.1 percent

Karachi, December 30, 2022 (PPI-OT):The State Bank of Pakistan will remain closed for public dealing on Monday, January 2, 2023, which will be observed as ‘Bank Holiday’. All banks / DFIs / MFBs shall, therefore, remain closed for public dealing on the aforementioned date. However, employees of the banks /

Karachi, December 28, 2022 (PPI-OT):In terms of Federal Government Notification F.No.2(1)IF-III/2010 dated December 23, 2021 last date for exchangeability of old design large, size banknotes of Rs 10, 50, 100 and 1000 is December 31, 2022. These banknotes are exchangeable from the field offices of State Bank of Pakistan’s subsidiary,

Karachi, December 28, 2022 (PPI-OT):The State Bank of Pakistan will start issuing banknotes bearing the signature of SBP Governor, Jameel Ahmad with effect from December 29, 2022 from the offices of SBP Banking Services Corporation. The banknotes bearing the signatures of his predecessors will continue to remain in circulation as

Karachi, December 27, 2022 (PPI-OT):The Federal Government has given another opportunity to the public to get the withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 redeemed/encashed by June 30, 2023. Earlier, the government had fixed deadline of June 30, 2022, for redemption/encashment of these prize bonds, however, considering

Karachi, December 26, 2022 (PPI-OT):The Federal Government vide Gazette Notification F.No.2(1)IF-III/2010 dated December 23, 2021, had extended the last date for exchange of old design large size banknotes of Rs 10, 50, 100 and 1000 by one year. The holders of these old design large banknotes have been given the

Karachi, December 26, 2022 (PPI-OT):In order to facilitate the collection of Government receipts / duties / taxes, it has been decided that the field offices of SBP Banking Services Corporation (SBP-BSC) and authorized branches of National Bank of Pakistan (NBP) will observe extended banking hours till 8:00 P.M. and 10:00