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SBP

SBP cuts interest rate to 8.5 per cent

Governor Wathra says inflation remained at 4.3 per cent during December and is expected to come down further Says fiscal deficit remained under control despite increase in interest-based payments The State Bank of Pakistan (SBP) cut its key discount rate to 8.5 per cent from 9.5 per cent on Saturday, in line with analyst expectations and citing lower inflationary pressure due to falling global oil prices. SBP Governor Ashraf Wathra said the new rate would be in place for two…

Agriculture loan: outstanding portfolio increased to Rs 290.35 billion

December 16, 2014 - Zaheer Abbasi - BR Report - The outstanding portfolio of agriculture loan has increased from Rs 257.09 billion to Rs 290.35 billion at end June, 2014 as compared to same period last year. Sources told Business Recorder that a recent meeting of the National Assembly's Standing Committee on Finance was further informed that in line with the government focus on promoting agriculture, the target of Rs 500 billion has been set for 2014-15 which is 54 percent of the agri…

SBP report says most targets missed

Shahid Iqbal The State Bank of Pakistan building.—AP/File KARACHI: The State Bank claimed in its annual report issued on Wednesday that the fiscal year 2013-14 (FY14) was a better year for macro-economy, but the figures cited also showed that most of the targets set for the year could not be achieved, except the fiscal deficit which remained lower than the target. But the report also indicated that the government had artificially managed to bring down the fiscal deficit to 5.5 per…

SBP introduces VCCFF to increase agri-financing outreach

Thursday, October 02, 2014 - Pakistan Observer - Karachi—State Bank of Pakistan(SBP) has issued Guidelines on Value Chain Contract Farmer Financing (VCCFF) to encourage banks to extend credit to small and marginalized farmers by leveraging on the strengths of inter-relationships that exist in the agriculture value chain. These guidelines will serve as a basis for banks to develop mutually beneficial relationship between the banks, farmers and the value-chain agent. Contract…

SBP initiates internship program for agri financing

Wednesday, August 27, 2014 Hyderabad—With the assistance of State Bank of Pakistan the agriculture graduates will be empowered through three months internship program in agri-financing, so the limit of 500 million of credit could be reached to the farming community. Prof. Dr. Mujeebuddin Memon, Vice Chancellor, Sindh Agriculture University Tandojam said this while addressing the inauguration session of the regional internship program for agriculture graduates held at State Bank of…

Wheat second biggest contributor to inflation: SBP report

August 05, 2014 - BR Report - Wheat is considered as the second biggest contributor in increasing the inflation rate of Pakistan. According to the State Bank of Pakistan's quarterly report, "wheat contribution to inflation is 10.9 per cent which is second highest among the 10 top contributors to the inflation." However, the speed of increase eased when wheat's supply increased following the commodity was released in higher quantity by the government and the private sector, it added. A…

WRF an alternative route to achieve the target quickly

By Shabbir H. Kazmi Efforts of State Bank of Pakistan (SBP) to implement Warehouse Receipt Financing (WRF) in Pakistan are applaud able and needs to be supported by all the stakeholders. This essential but timely initiative is part of financial inclusion program being pursued by the central bank. Once fully implemented, WRF system will be extremely beneficial to the farmers and support in realizing top of the agenda item, achieving food security. This program one hand will help in…

Promoting agriculture finance: SBP announces Financial Innovation Challenge Fund’s results

May 24, 2014 The State Bank of Pakistan announced the results of Financial Innovation Challenge Fund (FICF) Round II on Promoting Innovative Rural and Agricultural Finance in Pakistan under the UK's Department for International Development (DFID) funded Financial Inclusion Programme. The FICF was launched by Finance Minister Ishaq Dar on March 6, 2014, as a strategic intervention for adopting innovations for development of agricultural finance in the country. Governor SBP, Ashraf…

Agriculture: Deposit growth slows down, SBP data shows

Published: May 13, 2014 By Kazim Alam Personal deposits amounted to Rs3.69 trillion, or 49.3% of total deposits, at the end of March, shows the latest set of data on banking deposits. KARACHI: Tighter money supply has led to a slowdown in growth of deposits, data released by the State Bank of Pakistan (SBP) shows. Growth in deposits has slowed down slightly from 14% year-on-year in December 2013, as the SBP has committed to reducing growth in domestic money supply under the…

SBP out to promote Islamic banking

May 01, 2014 LAHORE - The State Bank of Pakistan (SBP) has evolved a comprehensive five-year strategy to promote Islamic mode of banking in the country. This was stated by the Deputy Governor of the State Bank of Pakistan Saeed Ahmed while speaking at the Lahore Chamber of Commerce and Industry on Wednesday. The LCCI President Engineer Sohail Lashari brought to the limelight the challenges being faced by the business community with regard to various components of the Islamic banking…

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