State Bank Of Pakistan News
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Pakistani billionaire Mian Mohammad Mansha said the government elected next month will have to apply austerity measures to secure an international bailout and sell state-run companies to rescue the economy from ruin.
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Pakistan’s central bank left interest rates unchanged after inflation eased to the lowest in at least three and a half years.
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The following table is a historical summary of State Bank of Pakistan’s monetary policy decisions.
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Pakistan’s central bank approved Faysal Bank Ltd.’s purchase of RBS Pakistan Ltd., Syed Wasimuddin, a spokesman for the State Bank of Pakistan, said by telephone from Karachi today.
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Pakistan’s central bank said new Islamic banking rules will help meet a goal of almost doubling the industry’s market share to 15 percent in five years.
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Pakistan’s central bank left interest rates unchanged as it tries to damp accelerating inflation while supporting expansion in an economy beset by an energy crisis.
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Pakistan’s rupee weakened beyond 100 per dollar to a record low in the so-called kerb market amid concern loan repayments to the International Monetary Fund will further erode the nation’s foreign-exchange reserves.
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Pakistan, the world’s second-largest Muslim nation, plans to expand its Shariah-compliant banking industry and attract more investors from the Persian Gulf by boosting sales of sukuk bills.
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Pakistan cut its benchmark interest rate to the lowest level in five years as policy makers seek to stimulate an economy battered by an energy crisis and insurgency that is likely to need more International Monetary Fund aid.
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The State Bank of Pakistan kept borrowing costs unchanged, maintaining one of the world’s highest benchmark interest rates, in an economy hurt by inflation, terrorism and falling foreign investment.
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