Pakistan
Pakistan to auction T-bills worth one bln rupees
PAKISTAN - Pakistan's central bank will auction one billion rupees ($15.62 million) worth of three-, six-and 12-month treasury bills from 10 July, the State Bank of Pakistan said. Tender results will be announced on 11 July.
Pakistan not ready for Islamic banking deadline
PAKISTAN - Pakistan is not ready to meet a 1 July supreme court deadline to implement interest-free Islamic banking and its financial institutions are likely to request more time to make the change, officials said on 7 June.
Pakistan c.bank allows all banks to deal in forex
PAKISTAN - Pakistan's central bank on Apr 18 allowed all bank branches to buy and sell foreign currency from the general public.
Pakistan cbank announce measures to boost reserves
PAKISTAN - Pakistan's central bank on Mar 31, 2001 announced measures to boost its foreign exchange reserves, a day after the International Monetary Fund released fresh money under a standby credit agreement.
Pakistan cbank concerned Afghans using rupee-FT
PAKISTAN - A sharp rise in the amount of Pakistani rupee in circulation has prompted Pakistan's central bank to begin an inquiry into the increasing use of the currency in neighboring Afghanistan, senior bank officials said on Mar 28, 2001, according to…
Pakistan cuts GDP forecast to below four percent
Pakistan's central bank on Feb 26, 2001 slashed its economic growth target for the second time in four months, because of slower growth in agriculture, high oil prices and the falling rupee.
Pakistan says Islamic banking won't hit accords
Military ruler General Pervez Musharraf said on Feb. 12, 2001 that Pakistan's plans to introduce interest-free Islamic banking would not affect the country's international financial dealings and accords.A government statement quoted him as giving the…
IMF reviews Pakistan performance for standby loan
Pakistan began talks with an International Monetary Fund mission on Feb. 8, 2001 keen to convince it that a revenue shortfall should not prevent payment of a second tranche of a standby loan, officials and analysts said. Analysts said the mission, led by…
Pakistan central bank raises paid-up capital limit
Pakistan's central bank has increased the paid-up capital requirement for investment banks to 500 million rupees from 200 million rupees, a central bank spokesman said on Feb 1. But he said the State Bank of Pakistan has given a two-year period to…
Pakistan moves to ease banks' liquidity crisis
Pakistan's central bank on Dec 22 asked commercial banks to buy government securities against swap dollar deposits in an attempt to ease a liquidity crisis and meet a key donor condition, bankers said.
Pakistan cbank says govt must meet IMF terms
Pakistan's central bank warned the government on Monday that it must strictly implement tough conditions set under an International Monetary Fund loan programme to avert a balance of payment crisis.
Economic indicators are positive - Pakistan cbank
Vital economic indicators have shown positive development during the first quarter (July-September) of the 2000-2001 fiscal year, Pakistan's central bank said Monday.
Pakistan banks told to double capital base by 2003
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003.
Pakistan cenbank appoints seven primary dealers
Pakistan's central bank on Monday appointed seven banks as primary money market dealers for the government securities, five months after it announced plans for the new system.
Pakistan might adopt Islamic banking gradually
Pakistan may try to convert gradually to a full Islamic banking system rather than make a sudden transformation by the middle of next year - the Supreme Court's deadline to end all interest driven transactions, which are considered contrary to Islam -…
Husain wants banking consolidation in Pakistan
Pakistan's central bank governor Ishrat Husain has said that he wants fewer, but stronger financial institutions in Pakistan which can mobilise and allocate resources in a cost effective and efficient manner.