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ISLAMABAD: The International Monetary Fund (IMF) has raised concerns over the deeply entrenched nexus between Pakistan’s government, the central bank, and the banking sector, warning that it poses significant risks to the country’s economy and financial system. According to the IMF, this relationship can lead to conflicting policies, regulatory challenges, and a harmful trade-off between …
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Judge Rules 9/11 Victims Cannot Seize Afghanistan Central Bank Funds. A federal judge in New York has ruled that the families of victims of the September 11, 2001, terror attacks cannot seize $3.5 billion in funds belonging to Afghanistan’s central bank. The assets, held in the Federal Reserve Bank of New York, were frozen on …
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KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) were recorded at $13 billion in the week ending March 12, a rise of $4 million or 0.03 percent. Overall liquid foreign currency reserves held by the government, including net reserves held by banks other than the SBP, were $20 billion, according to …
Karachi: State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll conducted by Islamic Finance News (IFN), REDmoney Group Malaysia, today. This is the second international award bestowed upon SBP for Islamic Banking during FY2021. Earlier the Global Islamic Finance Awards …
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