Mr. Yasin Anwar appointed SBP Governor

The government has appointed Mr. Yasin Anwar as the Governor, State Bank of Pakistan (SBP). The post had been lying vacant since Mr. Shahid Hafeez Kardar resigned on July 18, 2011. Mr. Yasin Anwer was the Acting Governor since then.

Posted On: 10/19/2011 By: Jamal Abdul Nasir Daudpota

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SBP & SECP ISSUES PUBLIC WARNINGS

On 26 June 2009, State Bank of Pakistan (SBP) & the Securities & Exchange Commission of Pakistan (SECP) issued public warnings in the Daily Dawn and the Jang Newspaper. These public warnings have been issued to warn the general public of various fraudulent activities.

Posted On: 7/3/2009 By: Jamal Abdul Nasir Daudpota

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LC MARGIN RESTRICTION ABOLISHED

LC Margin Restrictions imposed vide BPRD Circular No. 06 on May 22, 2008 have finally been withdrawn altogether vide BPRD Circular No. 12 issued on June 12, 2009.

Posted On: 7/3/2009 By: Jamal Abdul Nasir Daudpota

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PENSION DISBURSEMENT THROUGH BANKS

Now pensioners will be able to open a pension account in any branch of any bank of their choice. Previously, they were restricted to certain authorised branches of NBP and Post Offices. Most of the pensioners were getting paid in cash.

Posted On: 7/3/2009 By: Jamal Abdul Nasir Daudpota

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Basic Banking Facilities for IDPs

The State Bank of Pakistan has directed all commercial banks to provide basic banking facilities including cash withdrawal facility to IDP’s from Bajaur, Dir, Swat, and Waziristan Agency of NWFP and FATA and other adjoining districts.

Posted On: 5/16/2009 By: Jamal Abdul Nasir Daudpota

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PM's Fund for IDP's Established

In order to help the Internally Displaced Persons because of the ongoing military operation in Bajaur, Dir, Swat, and Waziristan Agency of NWFP and FATA, the cabinet decided to institute “Prime Minister’s Special fund for Relief of Victims of Terrorism”. The fund has been set up with an initial contribution of Rs. 20 million from the cabinet members,

Posted On: 5/16/2009 By: Jamal Abdul Nasir Daudpota

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LIST OF REGULATORY RETURNS

With a view to facilitate the banks/DFIs in performing their compliance function, State Bank of Pakistan has compiled the list of about 100 returns submitted to 8 departments of SBP.

Posted On: 5/6/2009 By: Jamal Abdul Nasir Daudpota

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Supreme Court orders NBP to pay higher rate

The Supreme Court issued an order on Monday whereby the National Bank of Pakistan was ordered to pay the funds at higher rates. However, the employees of the bank are not happy with the huge difference in the rate of interest and the rate at which they are getting paid on their funds.

Posted On: 5/6/2009 By: Jamal Abdul Nasir Daudpota

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Ms. Shafqat Sultana New President of FWBL

Ms. Shafqat Sultana, the newly appointed President of First Women Bank Ltd. has assumed her office on May 5, 2009 in Karachi. She is the 3rd president of First Women Bank Ltd.

Posted On: 5/6/2009 By: Jamal Abdul Nasir Daudpota

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New Banking Mohtasib Pakistan appointed

The President of Pakistan, under Section 82A of the Banking Companies Ordinance 1962, has appointed Mr. Mansur-ur-Rehman Khan as Banking Mohtasib Pakistan, for a term of three years from the date that he assumes charge of that office.

Posted On: 5/2/2009 By: Jamal Abdul Nasir Daudpota

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Abdullah Iraqui bags Bronze for Sindh

In the 30th National Games, in the .22 Rifle Shooting event, Mr. Abdul Qadeer of Pakistan Navy got Gold Medal, Raees of Pakistan Army got Silver Medal and Mr. Abdullah Iraqui of Sindh got the Bronze Medal.It is a rare honor for Sindh to have won a Bronze medal in this very competitive sport. It is normally dominated by armed forces but Sindh is lucky to have good shooters, and we are proud to have a banker amongst them.

Posted On: 4/17/2007 By: Jamal Abdul Nasir Daudpota

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MR. YASEEN ANWAR APPOINTED AS DG (C.S.), SBP

The Finance Division (Internal Finance Wing), vide their notification No: F.3 (3)-Bkg-I/2007 dated 10th March, 2007 has announced the appointment of Mr. Yaseen Anwar as Deputy Governor (Corporate Services), State Bank of Pakistan for a period of three years with effect from the date he assumes the charge of the post.

Posted On: 3/30/2007 By: Jamal Abdul Nasir Daudpota

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Syed Kashif Hussain joins SBP

We welcome Syed Kashif Hussain on joining State Bank of Pakistan as Assistant Director, Recruitment for the Human Resources Department. Mr. Kashif has an MBA from Hamdard University, Karachi. He has worked for BankIslami Pakistan as Section Head, Employee Services for 7 months.

Posted On: 3/26/2007 By: Jamal Abdul Nasir Daudpota

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Mr. Muhammad Ali Malik joins SBP

Mr. Muhammad Ali Malik has joined State Bank of Pakistan as Director, Domestic Markets and Monetary Management Department. Mr. Malik is MBA from Institute of Business Administration (IBA), Karachi. Prior to joining SBP he worked with Standard Chartered Bank as “Head of Global Corporate Sales” and “Head of Asset & Liability Management/Trading” for 5 years.

Posted On: 3/19/2007 By: Jamal Abdul Nasir Daudpota

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GOVT SET TO SELL BANK SHARES

PC issued a press handout dated 12th January 2007 on it’s website. According to the handout, the government will sell shares of Habib Bank Limited, and United Bank Limited. The government is in the process of appointing advisers for Habib Bank Limited and United Bank Limited. Pakistan also plans to sell global depository receipts of Habib Bank Limited, United Bank Limited and National Bank of Pakistan by June.

Posted On: 2/13/2007 By: Jamal Abdul Nasir Daudpota

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EOIs FOR PRIVATIZATION OF SME BANK

The Privatization Commission has invited Expression of Interest (EOIs) from reputed firms or consortium of firms to act as Financial Advisor for Privatization of SME Bank Ltd. The Privatization Commission has asked the interested parties to submit EOIs along with a non-refundable processing fee of US$ 1000/- or equivalent Pak Rupees no later than February 26, 2007.

Posted On: 2/13/2007 By: Jamal Abdul Nasir Daudpota

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SBP issues Guidelines for Islamic MFBs

The State Bank of Pakistan has taken another step in promotion of Islamic Banking Business in Pakistan. It published the Draft Guidelines for Provision of Islamic Microfinance Services and Products on its website for comments/suggestions. The guidelines are aimed at broadening the coverage of microfinance products and services to low income segments in a Sharia compliant manner.

Posted On: 12/9/2006 By: Jamal Abdul Nasir Daudpota

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Merger of AEB with JS Bank

The State Bank of Pakistan has sanctioned the scheme of amalgamation under which the American Express Bank’s commercial banking business in Pakistan with all its assets and liabilities as well as the Jahangir Siddiqui Investment Bank Limited’s investment banking business with all its assets and liabilities will be merged with and into JS Bank Limited.

Posted On: 12/8/2006 By: Jamal Abdul Nasir Daudpota

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Eid Holidays

The State Bank of Pakistan has announced that it will remain closed on 23rd, 24th and 25th October 2006 (Monday, Tuesday and Wednesday) being public holidays as declared by the Government of Pakistan on the occasion of Eid-ul-Fitr.

Posted On: 10/19/2006 By: Jamal Abdul Nasir Daudpota

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VERIFICATION COST OF CNICS OF CLIENTS

State Bank has clarified vide BPRD Circular Letter No. 22 of 2006 that banks/DFIs should not pass on the cost of verification of CNIC from NADRA database to their existing or prospective account holders.

Posted On: 9/28/2006 By: Jamal Abdul Nasir Daudpota

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STATE BANK TIMINGS DURING RAMADAN

The State Bank of Pakistan and the SBP Banking Services Corporation (Bank) will observe the following office timings during the Holy Month of Ramadan :-

Posted On: 9/22/2006 By: Jamal Abdul Nasir Daudpota

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Syed Irfan Ali appointed Director BPRD

State Bank of Pakistan, vide BPRD Circular No. 13 dated September 14, 2006 has announced that Syed Irfan Ali has assumed charge as Director, Banking Policy & Regulations Department with effect from 9 September, 2006.

Posted On: 9/14/2006 By: Jamal Abdul Nasir Daudpota

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Mr. Andrey A. Kozlov shot dead

The First Deputy Chairman of the Bank of Russia (formerly State Bank of the RSFSR) died in a hospital after being shot by two gunmen in Moscow. Andrey A. Kozlov was attacked at a city's sports ground late on Wednesday. He suffered gunshot wounds in his body and head while his driver died on the spot.

Posted On: 9/14/2006 By: Jamal Abdul Nasir Daudpota

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Mr. Inayat Hussain appointed Director BID

State Bank of Pakistan, has announced that Mr. Inayat Hussain has assumed charge as Director, Banking Inspection Department with effect from 13 September, 2006 (Forenoon).

Posted On: 9/13/2006 By: Jamal Abdul Nasir Daudpota

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RE-ORGANIZATION AT THE STATE BANK OF PAKISTAN

SBP issued a press release on 7th September, 2006 to communicate the revised organization structure of SBP. This re-organization has been introduced in order to strengthen SBP’s internal governance systems and to restructure & modernize itself in line with the best practices of other central banks and in the light of the developments that had taken place across Pakistan’s financial markets.

Posted On: 9/12/2006 By: Jamal Abdul Nasir Daudpota

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SBP allows Export Refinance for Gemstones

State Bank, vide their SMED Circular Letter No. 05 dated 11th September, 2006 has extended the facility of export refinance for export of gemstones/precious and semi precious stones on self consignment basis.

Posted On: 9/12/2006 By: Jamal Abdul Nasir Daudpota

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SBP SCHEDULES ARIF HABIB RUPALI BANK LIMITED

State Bank of Pakistan, on August 4, 2006 issued a long awaited notification for de-scheduling of Rupali Bank Limited, Pakistan Operations with effect from August 5, 2006. Simultaneously, State Bank issued another notification for declaring Arif Habib Rupali Bank Limited as a scheduled bank with effect from August 5, 2006.

Posted On: 8/7/2006 By: Jamal Abdul Nasir Daudpota

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DRAFT OF NEW BANKING ACT ISSUED FOR COMMENTS

The Banking Laws Review Commission (BLRC) has issued draft of a new banking Act suited to the requirements of modern banking for comments on SBP website. You can get involved and make a significant contribution in this regard by identifying the major weaknesses in the current banking laws and by highlighting key concerns and issues that should be considered in framing of the new law. Everyone is encouraged to participate. The BLRC will read all submissions and may invite selected individuals to present their views in person. The deadline for submission of views / comments (by mail, fax or e-mail) is July 31, 2006. The Draft Act and further details are available on SBP website.

Posted On: 5/3/2006 By: Jamal Abdul Nasir Daudpota

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Congratulations on Promotions at SBP

State Bank of Pakistan recently promoted 10 Assistant Directors to Junior Joint Directors. They went through a tough selection process and were selected from amongst a lot of competitors. It may be noted that SBP has emerged as an important source of qualified and highly trained professionals for the banking industry. SBP has been producing talented individuals who have found lucrative and high ranking positions in the banking industry in Pakistan and abroad. We wish them all a lot of success and a really bright future.

Posted On: 3/13/2006 By: Jamal Abdul Nasir Daudpota

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Sanaullah Khosa will join FWBL

Mr. Sanaullah Khosa, Assistant Director, Banking Inspection Department has accepted the offer of Head of Compliance at the First Women Bank Limited. He will be joining FWBL from 27th February 2006.

Posted On: 2/23/2006 By: Jamal Abdul Nasir Daudpota

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SBP Issues Guidelines For Card Holders

Keeping in view the rising trend of frauds against the various card-holders, the increase in robberies of card-holders at ATMs and hacking of credit card databases has created a serious law and order problem. Keeping in view the problems being faced by the various stakeholders, State Bank of Pakistan has issued, “Guidelines for Account Holders using Debit/Credit/Smart Cards”. These guidelines were developed in consultation with the commercial banks. These guidelines are aimed at minimizing the risk of the various cardholders while helping control the law and order situation.

Posted On: 12/6/2005 By: Jamal Abdul Nasir Daudpota

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Promotions in SBP

State Bank of Pakistan has promoted 39 Assistant Directors to Junior Joint Directors. The Promotion committee interviewed 118 eligible Grade 3 Officers from all Seniority Sides. Based on interview marks and overall marks calculated in terms of Promotion Policy guidelines, 31 Assistant Directors from the General Side, 3 from the Research Side, 3 from the Statistics Side and 2 from the Computer Side were promoted.

Posted On: 12/6/2005 By: Jamal Abdul Nasir Daudpota

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Ms. Shamshad Akhter named Governor of State Bank

Ms Shamshad Akhter has been appointed new governor of State Bank of Pakistan on Saturday. She would be the first ever-female governor of the central bank. She was previously working as the Manager of the ADB's Financial Sector and Industry Division (East). In 1990, she was appointed as Senior Economist in Country Operations at the ADB. She was responsible for handling structural adjustment operations in finance, trade and industry. Ms. Shamshad Akhtar is the first female in ADB to rise to the rank of DG from within the institution.

Posted On: 12/3/2005 By: Jamal Abdul Nasir Daudpota

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Mr. Fahim Siddiqui joins Saudi Pak Commercial Bank

Mr. Muhammad Fahim Siddiqui has left SBP and will be joining Saudi Pak Commercial Bank Limited from 24th November, 2005. Mr. Fahim worked for SBP for 11 years. During his long service at SBP, he worked in Human Resources Department, Legal Department., World Bank Consultancy Project, Banking Supervision Department and Banking Policy Department. We wish him all the best in his new assignment. His friends may contact him any time at 0333-2238933.

Posted On: 11/23/2005 By: Jamal Abdul Nasir Daudpota

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Promotion of Mr. Abdul Hakeem Wahab

Mr. Abdul Hakeem Wahab has been promoted from Policy Officer (OG-2) to Assistant Director (OG-3 equivalent to OG-1 in Commercial Banks). Mr. Wahab has been working for the State Bank of Pakistan for the last four years. He is posted in the Banking Policy Department. He has also worked for the Dawn Group of Newspapers. Mr. Wahab is an MBA from Hamdard University with his schooling from St. Patrick's. He is a very energetic, hard working and ambitious person with leadership qualities.

Posted On: 11/16/2005 By: Jamal Abdul Nasir Daudpota

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