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Articles for tag: banking, business, introduces, Latest, omos, RS13TR, SBP, system

July 5, 2025

News Desk

SBP introduces RS13TR into the banking system via omos

Listen to the article Karachi: The Pakistani State Bank (SBP) put a total of 13 trillion Rs in the banking system through conventional and compatible open market functions (OMOS) in line with Shariah on July 4, 2025, in a move aimed at maintaining short -term liquidity. According to official data, the conventional injection of OMO amounted to RS12,647 trillion, acceptable with a return rate of 11.03%, with most of the liquidity being injected through 14 days. At the same time, the central bank conducted an OMO Mudarabah -based Mudarabah, introducing additional RS361.6 billion to 7 days and 14 days with

June 30, 2025

News Desk

PBA contradicts misleading claims on remittance subsidies

Listen to the article The Pakistan Bank (PBA) Association rejected Monday misleading allegations in recent press coverage, which suggests that government subsidies in banks located in remittance systems do not serve any financial purpose. Last week, an independent Institute of Policy urged the government to review the subsidy of profitable banks and redirect the limited fiscal resources to the development of growth. Economic Policy and Business Development (EPBD) issued the call on Friday, the same day that the Federal Economic Coordination Committee (ECC) was informed that the banks had claimed RS200 billion in the Pakistani Remistances Initiative (PRI). EPBD has

March 13, 2025

News Desk

PSX is growing as Moody’s increases the prospects in the banking sector

Shast brokers are watching news on the TV screen on a kiosk, during a meeting on the Pakistan Stock Exchange, Karachi, July 3, 2023. – Reuters The market closes at 115.094.23, over 1,009.70 points. Intraday High Reaches 115,247,39, earning 1,162.86 points. Session operation recorded in 114,429.93, increased 345.4 points. The stock market accumulated on Thursday, closing with significant profit, as investors responded positively to the optimism that surrounds circular debt resolution in the energy sector and the upgrading of Pakistani banks from Moody’s ratings. The market was further strengthened with the hope of a favorable result by the revision of

March 12, 2025

News Desk

Moody’s upgrades upgrades Pakistan’s banking sector to positive

Listen to the article Moody’s, a global credit rating service, has revised the prospects of the Pakistan banking sector from stable to positive, attributing a change to stronger economic performance and recovery to macroeconomic conditions since last year’s recession. The organization’s latest report noted that Pakistan banks are largely invested in government securities, holding about 50% of their total assets in dominant bonds. The upgrade reflects a more favorable liquidity position and improved external funding conditions, in accordance with the positive tendency to evaluate the government. According to Moody’s, Outlook’s upgrade is aligned with the improved dominant credit ratings of

February 20, 2025

The Pakistan Daily

Digital Banking is the Future, easypaisa digital bank is Making It Happen with ‘easy wala bank’

Islamabad– Banking as we know has changed forever. Gone are the days of long queues, endless paperwork, and rigid banking hours. In a world where everything is just a tap away, easypaisa digital bank is redefining convenience with its bold new campaign: ‘easy wala bank’ because banking should be as easy as everything else in life. Pakistan has officially entered a new era of financial accessibility with easypaisa digital bank, the country’s first incumbent digital retail bank, now commercially approved by the State Bank of Pakistan (SBP) under its Licensing and Regulatory Framework for Digital Banks. This is more than

October 20, 2024

News Desk

26th Amendment sets January 2028 deadline to end Riba, paves way for interest-free banking

Pakistan rupee notes are displayed in a counting machine at a bank in Peshawar, August 22, 2023. — Reuters The clause was added at the suggestion of JUI-F. January 2028 deadline for the end of Riba’s training. Any transaction involving Riba is “wrong”. The 26th Constitutional Amendment Bill 2024, recently passed by the Senate, has set January 1, 2028 as the deadline for ending the practice of Riba (interest-based banking) in the country. The clause was added to the amendment bill following a proposal by Jamiat Ulema-e-Islam-Fazl (JUI-F), the regional political party led by Maulana Fazl-ur-Rehman, which gave the government

August 22, 2024

News Desk

The US election is key to the future of banking capital reforms

WASHINGTON: U.S. regulators will not be able to finalize the banks’ controversial capital increases before November’s presidential election, casting doubt on whether these and other tough proposed rules for Wall Street banks will be implemented at all, according to five people familiar with the matter. they know the situation. The so-called Basel III Endgame rules would significantly change the way banks with more than $100 billion in assets manage their capital, potentially limiting lending and trading. Banks argue that the additional capital is unnecessary and harmful to the economy and have lobbied hard to block Basel’s reforms. The final outcome

June 28, 2024

News Desk

The oil and banking sectors continue to fuel the rally

KARACHI: The Pakistan Stock Exchange (PSX) on Thursday continued its upward momentum as it extended gains from the previous session, mainly on higher valuations in the oil and banking sectors. The session started on a higher note as the KSE-100 hit an intraday high of 78,978.60. The index continued its positive mood with small ups and downs towards the close of trading. The rally was also fueled by the results of a bill auction, which hinted at a rate cut at the next monetary policy statement, as well as expectations of a smooth passage of the federal budget. News of

June 26, 2024

News Desk

The US Treasury is targeting the shadow banking network that facilitates Iran’s military financing

The US Treasury Department announced on Tuesday that it has targeted a shadowy banking network that funnels money to Iran’s military. The Treasury Department said its Office of Foreign Assets Control (OFAC) is sanctioning nearly 50 entities and individuals that are multiple branches of an extensive “shadow banking” network used by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL). and the Islamic Revolutionary Guard Corps. (IRGC) to gain illicit access to the international financial system and process the equivalent of billions of dollars by 2020. “MODAFL and the IRGC engage in various revenue-generating commercial activities, most notably the sale

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