January 21, 2025
Headlines

SBP

SBP Launches Advanced eCIB System

SBP Introduces Revised Regulatory Framework for Exchange Companies – Fintech News Pakistan

FN Pakistan Staff04 mins

KARACHI: The State Bank of Pakistan (SBP) has introduced a revised and consolidated Regulatory Framework for Exchange Companies (RFEC) aimed at enhancing governance, internal controls, and compliance within the sector. The updated RFEC consolidates and modernizes existing regulatory instructions, replacing the earlier Exchange Companies Manual. The SBP’s comprehensive review and revision are geared towards streamlining…

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SBP Launches Advanced eCIB System

SBP Introduces Collateral and Eligibility Criteria for Monetary Policy Lending Operations – Fintech News Pakistan

FN Pakistan Staff06 mins

The State Bank of Pakistan (SBP) has introduced enhanced collateral and eligibility criteria for improved monetary policy lending operations effective July 2025. In order to further strengthen risk mitigation measures for SBP’s Monetary Policy Lending Operations and Mudarabah Based Financing Facilities (OMOs and Standing Ceiling Facility), the following instructions are being issued: A. Collateral Requirements: Sr….

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Digital Channels Now Handling 87% of Retail Payments in Pakistan – Says SBP – Fintech News Pakistan

FN Pakistan Staff04 mins

Pakistan’s Digital Payment Ecosystem Thrives: SBP’s Q1 FY25 Review Highlights Robust Growth Islamabad, December 21, 2024 – The State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Review for Q1 FY25, showcasing the country’s significant progress towards a cashless and digitally inclusive economy. Covering the period from July to September 2024, the report…

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SBP Launches Advanced eCIB System

SBP Adopts AAOIFI Shariah Standard No. 59 to Standardize Islamic Banking Practices – Fintech News Pakistan

FN Pakistan Staff01 mins

Karachi: The State Bank of Pakistan (SBP) has announced the adoption of AAOIFI Shariah Standard No. 59 on the Sale of Debt, aimed at standardizing and harmonizing Shariah practices across Islamic Banking Institutions (IBIs). The decision, effective immediately, comes with certain clarifications and amendments to ensure compliance. In a statement, the SBP emphasized that this…

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Karandaaz Pakistan Partners with BISP to Enhance Digital Payments and Financial Literacy – Fintech News Pakistan

FN Pakistan Staff04 mins

ISLAMABAD, December 17, 2024 – This initiative marks a revolutionary development as a result of the significant meetings held by Chairperson Benazir Income Support Programme (BISP), Senator Rubina Khalid and Secretary BISP, Amer Ali Ahmad with representatives of the Bill & Melinda Gates Foundation and Karandaaz Pakistan, an impact investment platform dedicated to driving sustainable economic…

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SBP Launches Advanced eCIB System

ICMA welcomes SBP Policy Rate Cut as a strategic step towards Economic Recovery

FN Pakistan Staff03 mins

KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMA) has lauded the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) for its decisive action to cut the policy rate by 200 basis points, bringing it to 13%, effective December 17, 2024. The decision, prompted by a significant decline in inflation to 4.9%…

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SBP Launches Advanced eCIB System

SBP Launches Advanced eCIB System (V2) to Modernize Credit Reporting

FN Pakistan Staff02 mins

The State Bank of Pakistan (SBP) has unveiled an advanced version of its Electronic Credit Information Bureau (eCIB), termed eCIB System (V2), which is set to become operational from January 1, 2025. This upgraded system will replace the existing eCIB platform and is designed to meet evolving technological advancements and international reporting standards. The eCIB…

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SBP to Launch ‘InvestPak’ Platform for Direct Investment in Government Securities

SBP to Launch ‘InvestPak’ Platform for Direct Investment in Government Securities

FN Pakistan Staff02 mins

In a groundbreaking move aimed at fostering a culture of savings and investment, the State Bank of Pakistan (SBP) is set to unveil InvestPak, an innovative platform that will enable individuals and corporations to directly invest in government securities. This initiative is designed to bypass intermediaries such as banks, offering investors the opportunity to earn…

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MCB Bank Appoints Muhammad Nauman Chughtai as New President

MCB Bank Appoints Muhammad Nauman Chughtai as New President & CEO

FN Pakistan Staff02 mins

MCB Bank Limited (PSX: MCB) has announced the appointment of Muhammad Nauman Chughtai as its new President and Chief Executive Officer. The decision was approved by the bank’s Board of Directors during a meeting held on December 11, 2024, according to a notice issued to the Pakistan Stock Exchange (PSX). Muhammad Nauman Chughtai’s appointment will…

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SBP partners with Systems Limited and Temenos

SBP partners with Systems Limited and Temenos to Modernize their Core Banking System

FN Pakistan Staff05 mins

Karachi, Pakistan – November 2024 – Systems Limited, a global system integrator and services provider, proudly announces a landmark agreement with the State Bank of Pakistan (SBP) to upgrade and modernize its Core banking platform to the latest Temenos core banking software and implementation of best-in-class Temenos Payment Hub to modernize the Payment Infrastructure of the Central Bank….

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