Press Releases     2008     Pakistan’s banking sector remarkably resilient despite challenging economic environment: SBP’s Financial Stability Review SBP grants record number of 730 branch licenses in 2008 SBP Governor discusses Banking Sector Strategy with bankers Economy needs effective policies and reforms to regain stability: SBP First Quarterly Report SBP Governor Dr Akhtar Decides to Step Down SBP introduces Dukhtar-e- Mashriq Mohtarma Benazir Bhutto (Shaheed) Commemorative Coin State Bank urges banks to utilize SBP financial inclusion initiatives Dr Akhtar stresses need for integration of South Asian economies Agricultural credit disbursement rises almost 8% to Rs 74.504 Bln in first five months of FY09 State Bank suspends licence of an Exchange Company SBP Governor launches Key Microfinance Sector Development Initiatives Remittances rise almost 15% to $2.967 Bln during first five months of FY09 SBP Governors briefing on State of Pakistan Economy to Senate Committee on Finance SBP BSC Begins Distribution of Re 1 & Rs 2 Aluminum Coins Agricultural credit disbursement soars over 16% to Rs 57.60 Bln in first four months of FY09 Trade & Industry Hail SBPs Policy Initiatives Remittances rise 13% to $2.346 Bln during first four months of FY09 State Bank Suspends Licence of an Exchange Company State Bank to provide 100% refinancing to banks under EFS: Dr Akhtar   SBP Issues Fair Debt Collection Guidelines to Banks & DFIs for Addressing Customers / Borrowers Grievences  SBP Proposes Amendments in Banking Companies Ordinance to Mitigate Potential Risks: Dr Akhtar  SBP Governor, Dr Shamshad Akhtar Chairs 13th Council Meeting of IFSB  SBP Governor Announces Further Relaxations in ADR of Banks  State Bank Sets up Customer Facilitation Centres  SBP issues Licence to Kashf Microfinance Bank Limited  Agricultural Credit Disbursement Soars Over 28 % to Rs 46.62 Bln in First Quarter of FY09  Pakistans Banking System Remains Unhurt By Recent Financial Market Turmoil: Dr Akhtar  Dr Akhtar welcomes and supports announcement of merger of Atlas Bank and KASB Bank Limited  SBP Governor chairs meeting of bankers / brokers  State Bank Dispels Media Reports on FCY Accounts  SBP Governors Press Statement  Remittances soar over 25% to $1.88 Bln during first quarter of FY09  Bank Alfalah functioning normally: SBP  Interest Free Loans of Rs. 179.995 Mln to Deserving Students  Pakistan s banking system stands on sound footings  SBP Governor Dr. Shamshad Akhtar s Press Statement  SBP Denies Rumours of Freezing of Foreign Currency Accounts  SBP advises Exchange companies to ensure uninterrupted supply of cash foreign currency to their customers  Pakistan's Banking Sector is resilient: Dr Akhtar  SBP Making all out Efforts to Provide Fresh Currency Notes to General Public: Dr Akhtar  SBP Enhances Per Acre Indicative Credit Limits for Crops  State Bank of Pakistan to Host Islamic Financial Services Awareness Programmes in Conjunction with 13th Meeting of The Council of the IFSB  Remittances soar over 23% to $1.22 Bln during first two months of FY09  E-banking transactions grow 32% to Rs 13.9 Tln in FY08  State Bank sets Rs 250 Bln agri credit target for FY09  Strengthening of Capital Requirements for the Banking Industry To Promote Further Growth in Financial Intermediation as well as to Encourage further Consolidation: Dr Akhtar   SBP, Government working closely to restore macroeconomic stability: Dr Akhtar  SBP Extends Help to Mitigate Financial Difficulties of Balochistan Government  State Bank facilitates general public in obtaining fresh currency notes  SBP issues Draft Guidelines on Islamic Financing for Agriculture State Bank Timings During Ramazan-Ul-Mubarak State Bank takes several measures for secured plastic money transactions Rs 358 billion will be available to exporters under EFS during FY09 State Bank committed to protect interest of banks’ customers Dr Akhtar tells banks to expedite repatriation of export proceeds SBP making relentless efforts for the development of country’s economy: Dr Akhtar Pakistani workers remitted record amount of over $627 million during July, 2008 Dr Akhtar unveils Monetary Policy Statement for first half of FY09 Impressive GDP growth vindicates economy is resilient: Dr Akhtar Banks, Insurance Firms to Launch Crop Loan Insurance Scheme from Rabi Season Agricultural credit disbursement soars over 25% to Rs 211.561 Bln in FY08 Pakistan receives record $6.451 bln workers? remittances in FY08 Recent Slide in the Rupee's External Value State Bank Launches New-design Rs 50 and new Rs 5 Banknotes President’s Visit to The State Bank of Pakistan Prime Minister Inaugurates Real Time Gross Settlement System at SBP Prime Minister Gilani vows to restore macroeconomic stability Dr Akhtar launches ten-year Financial Sector Strategy Dr Akhtar announces waiver of 35% cash margin on essential imports State Bank Clarifies SBP to organize conference on Development Finance Remittances rise over 18% to $5.904 Bln during first 11 months of FY08 SBP denies report on Gold reserves Pakistan’s GDP growth to stay between 5.5%-6.0% range in FY08: SBP Report SBP to review LC margin requirement for essential raw materials: Dr Akhtar Financial Globalization has the potential to promote and reinforce Islamic Financial Industry: Dr. Akhtar SBP Governor's Press Statement Up to $3.5Billion FX inflows to stabilize Foreign Exchange Markets: Dr Akhtar Dr Akhtar announces Reforms Agenda for Exchange Companies Textile Sector receives Rs176 billion under EFS in three quarters of FY08 Appropriate measures essential to insulate Asia from international financial markets turmoil: Dr Akhtar Dr Shamshad Akhtar receives the Best Central Bank Governor of the Year Award SBP suspends licences of two exchange companies (B category) Pakistani workers remitted record amount of over $602 million during March, 2008 State Bank assesses economic situation; doesn’t revise targets of key economic variables State Bank issues Branchless Banking Regulations Pakistan's economy continues to show resilience to domestic & international shocks: SBP Report SBP issues licence to Khushhali Bank Ltd Dr Akhtar chairs IFSB Council, General Assembly meetings in Jeddah State Bank Issues Instructions & Guidelines for Shariah Compliance in IBIs State Bank to launch new-look Rs 20 Banknote Remittances rise 21% to $4.126 Bln during first eight months of FY08 Good Corporate Governance vital to financial system stability: Dr Akhtar Dr Akhtar calls for structural reforms to address fiscal and external account deficits in the context of changing global economic environment State Bank issues `Guidelines for Poultry Financing' SBP Governor asks banks to launch more aggressive initiatives to promote SME Financing Pakistan's financial sector assets rise to $180 bln: Dr Akhtar Dr Akhtar urges IBIs to enhance outreach to rural areas Dr Akhtar urges textile industry to seek mergers & acquisitions SBP Governor expresses satisfaction over the credit disbursement to the Agriculture Sector Monetary tightening to contain macro economic imbalances: Dr Akhtar State Bank Remains Committed to Bring Down Inflation: Dr. Akhtar Remittances rise 19.40% to $3.066 Bln during first half of FY08 State Bank develops Financing Scheme for Small Farmers Commercial banks extend Rs 138.45 bln to exporters under the modified Export Finance Scheme Pakistan’seconomy performing well but risks increasing: SBP Report Damages to Banks’Branches

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