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SBP Announces Deadline to Exchange Old Banknotes

SBP Announces Deadline to Exchange Old Banknotes
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North west frontierAndhra pradeshBanking service corporationState bankService corporationLegal tenderOld design banknotes

How to claim or encash a prize bond

How to claim or encash a prize bond
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Banking services corporationPakistan banking service corporationBanking service corporationவங்கி சேவைகள் நிறுவனம்வங்கி சேவை நிறுவனம்

Govt documents Rs60 billion worth of Rs25,000 bearer bonds

Govt documents Rs60 billion worth of Rs25,000 bearer bonds Business April 9, 2021 KARACHI: The federal government has documented Rs60 billion worth of bearer bonds valuing Rs25,000 each in three months to comply with one of the conditions of the Financial Action Task Force (FATF). The documentation of bearer bonds was one of the requirements to comply with the FATF conditions, for which the government started with first withdrawing Rs40,000 bearer bonds in June 2019. Pakistan remains on the FATF grey list and the next review of the task force is scheduled for June 2021. The finance ministry on December 9, 2020 announced it would stop issuing Rs25,000 denomination bearer prize bonds and further instructed the bonds could not be cashed or redeemed after May 31, 2021. Since the announcement, the outstanding stock of this bearer bond reduced to Rs41 billion by end of February 2021 as compared with Rs101 billion in December 2020, according to statistics released by the State Bank o

National bankNational saving centersHabib bankFinancial action task forceNational savingsBanking service corporationBank alfalahUnited bankState bankService corporationHabib bank limitedUnited bank limitedAllied bank limitedNational savingதேசிய வங்கிதேசிய சேமித்தல் மையங்கள்

Banks to implement digital portals

Banks to implement digital portals Business March 17, 2021 KARACHI: The State Bank of Pakistan (SBP) has advised all banks to implement digital portals for end-to-end digitalisation of case submission and processing, a statement said on Tuesday. This move aims to facilitate the business community in Pakistan, promote ease of doing business, enhance operational efficiency and make processing of foreign exchange (FX) related cases cost effective and environment friendly. In the first leg of its end-to-end digitalisation drive, the SBP launched an online platform - Regulatory Approval System (RAS) to facilitate banks in online submission of FX-related cases to the Exchange Policy Department (EPD) of SBP and the Foreign Exchange Operations Department (FEOD) of the SBP Banking Service Corporation (SBP BSC). The SBP-RAS has been operational since March 24, 2020 whereby banks are submitting their cases online to FEOD and manual case submission has been discontinued. Later on, paper b

Foreign exchange operations departmentBanking service corporationExchange policy departmentState bankApproval systemService corporationவெளிநாட்டு பரிமாற்றம் செயல்பாடுகள் துறைவங்கி சேவை நிறுவனம்பரிமாற்றம் பாலிஸீ துறைநிலை வங்கிஒப்புதல் அமைப்புசேவை நிறுவனம்

SBP Ramps Up Its End-to-End Digitalization Drive to Facilitate Business Community

The State Bank of Pakistan (SBP) has advised all the banks to use digital portals for end-to-end digitalization of case submissions and processing. This

Foreign exchangeForeign exchange operations departmentBanking service corporationExchange policy departmentState bankRegulatory approval systemவெளிநாட்டு பரிமாற்றம்வெளிநாட்டு பரிமாற்றம் செயல்பாடுகள் துறைவங்கி சேவை நிறுவனம்பரிமாற்றம் பாலிஸீ துறைநிலை வங்கிஒழுங்குமுறை ஒப்புதல் அமைப்பு