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Tag Archives: commercial banks

State Bank of Vietnam needs to pump large amount of dong through OMO

HANOI: The State Bank of Vietnam (SBV) has had to pump a large amount of dong through the open market operation (OMO) to ease a “dong fever” in the interbank market. The dong fixed-term (overnight to one-week) lending interest rates in the interbank market for the first time in the last two years returned to the 5.7 percent per annum ... Read More »

China stocks take positive start, Shenzhen Component surges 2.25%

BEIJING: china stocks started higher on Thursday morning, with the benchmark Shanghai Composite Index up 2.43 percent, or 77.09 points, to open at 3,251.21. The Shenzhen Component Index opened at 11,367.14, up 2.25 percent, or 250.59 points. The sectors of securities, insurance and real estate companies led the increase by over 2 percent respectively, and the sub index of bank ... Read More »

Domestic debt composition major culprit behind public debt increase: Finance Ministry

ISLAMABAD: The Finance Ministry has termed composition of domestic debt as main reason for the increase in public debt, Customs Today reliably learnt on Tuesday.  “Banks changed their interest rate outlook and sharply increased their participation in Pakistan Investment Bonds (PIBs) last year which resulted in a sharp increase in the public debt and,” a well-placed official source at Finance ... Read More »

National Bank introduces Foree Remittance Account

KARACHI: The National Bank of Pakistan introduced Foree Remittance Account the other day. With Foree Remittance Account, customers are no longer required to visit branches and wait in queues for receiving remittances, rather home remittances are immediately credited to the customer’s account upon receipt from the overseas and a SMS Alert is sent on the customer’s designated mobile number with ... Read More »

Banks to issue new currency from Monday

MULTAN: The State Bank of Pakistan directed all the banks including Commercial and government banks to provide new currency notes to citizen on the Eid ul Azha from Monday. New currency notes for the Eid occasion will be available at the main eight branches of National Bank located in the Multan City. New currency notes from 10 rupees to 100 ... Read More »

SBP urged to reduce discount rate

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zakaria Usman has asked the State Bank of Pakistan to cut discount rate and ensure affordable financing for the industrial sector. Zakaria Usman said that the FPCCI had been emphasising on the need for a conducive environment for commercial and business activities in the country and reduction in discount ... Read More »

Taxpayers, citizens unfazed by Imran’s call for disobedience

ISLAMABAD: The taxpayers across the country paid no heed to Pakistan Tehreek-e-Insaf (PTI) Chief Imran Khan’s call for disobedience and non-payment of taxes as they contributed more than Rs 7 billion to the national exchequer under the heads of General Sale Tax, Central Excise Duty, Custom Duty and Withholding Tax, informed sources in the Federal Board of Revenue (FBR). The ... Read More »