Pakistan
State Bank of Pakistan overhauling risk management, annual review says
Central bank is looking to improve its risk management approach, with work proceeding on an enterprise risk management system
Pakistan completes shift to new policy rate
New target rate and tighter corridor aims to improve the transmission of monetary policy; central bank slashes rates as inflation continues to fall
State Bank of Pakistan mulls new target rate
New proposals aim to establish a new ‘target rate’ within the existing interest rate corridor; advisory committee on monetary policy will decide whether to adopt them next month
Pakistan targets automated cash management in five years
State Bank of Pakistan aims to automate cash management and urges commercial banks to follow suit; deputy governor says it will help ensure only clean and genuine notes circulate
State Bank of Pakistan slashes rates to decade low
Governor Ashraf Mahmood Wathra strikes upbeat note despite inflation falling significantly below target, as central bank cuts interest rates by 100 basis points
SBP annual report highlights ‘two phase’ year
Pakistan’s economy suffered turbulent spell in 2013, but IMF agreement saw a return to relative stability; central bank praises government for ‘long-awaited’ return to fiscal discipline
SBP annual report highlights year of ‘critical’ changes
Governor highlights major amendments to the State Bank of Pakistan’s operations that are currently being considered by Parliament; accounts show rise in both profits and governor’s salary
SBP launches shariah-compliant open market operations
Islamic banks in Pakistan will now have access to central bank liquidity operations; survey reveals strong demand for Islamic finance in the country, but coverage remains patchy
Pakistan governor sets out communications ‘revamp’
State Bank of Pakistan’s Wathra says the central bank will be updating its website to make it more ‘transparent’ as well as running workshops for local journalists
Wathra appointed Pakistan governor
Ashraf Mahmood Wathra joined the central bank as a deputy governor last year, and has now been handed a three-year term as governor
Frontier bonds find buyers as investors reach for yield
Pakistan sells $2 billion worth of Eurobonds as investors look for alternatives to US Treasuries; Greece and Swaziland among countries to find success with bonds in own currency
State Bank of Pakistan has 'critically low' reserves
IMF says Pakistan’s reserves position will remain critical even with ‘stellar’ programme adherence; urges changes to central bank law to boost independence
Pakistan looks to raise public profile of Islamic finance
The State Bank of Pakistan launches a five-year strategic plan to develop Islamic finance domestically and abroad; sets focus on improving public perception of the industry
Pakistan governor resigns for ‘personal reasons’
Yaseen Anwar steps down from the State Bank of Pakistan top job after a family member suffers a serious injury; new deputy governor appointed to help grow the Islamic banking sector
Pakistan deputy wants new data protection laws for payments
Ashraf Mahmood Wathra welcomes the ‘innovative banking practices’ driving financial inclusion but says data protection must keep pace
Pakistan adds Basel III capital surcharge to allow for modelling shortfalls
State Bank of Pakistan outlines its Basel III capital requirements for domestic banks
Pakistani governor calls for 'concerted effort' to promote Islamic banking
SBP is launching media campaign to address misconceptions about Islamic finance
People: FSB appoints new chairs; Pakistani board reaches full strength
Three central bankers appointed to head Financial Stability Board committees; Pakistan completes drive to fill governing board; and more
Pakistan bank governor calls for deeper shadow bank participation
Yaseen Anwar identifies 'huge opportunities' for shadow banking to capitalise on; says NBFIs must face stronger regulation in tandem
Pakistan says Nato pull-back worsened rupee depreciation
State Bank of Pakistan annual report finds closure of Nato supply lines to Afghanistan contributed to a 9.1% depreciation of the rupee against the dollar in fiscal 2011–12
Pakistani minutes show weak economy but low inflation
State Bank of Pakistan minutes show low level of private-sector credit and declining foreign investment behind stagnant economy; inflation lower than expected
Islamic finance championed by eight-strong central bank pact
Heads of central banks within the Developing-8 organisation agree to work together to increase the size of the Islamic Finance industry
Pakistan’s Muktadir lauds mobile payments transition
State Bank of Pakistan deputy governor says uptake of mobile phone and smart card banking is changing the finance landscape in Pakistan
Banking industry needs to deliver wider services, says Pakistan deputy
Kazi Abdul Muktadir discusses future inclusion strategies in Pakistan’s banking industry, including banks being forced to open branches in rural and under-served areas if they want to expand