Published in The Banker Pakistan, May 6th, 2017.
KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between October and July 21 despite commercial borrowing of more than $4.4 billion in 2016-17. Currency experts said pressure is mounting on the exchange rate as reserves fall. Dealers in the interbank market said the dollar rate, after reversing from Rs108 to Rs105.40, […]
KARACHI: Five former senior officials of National Bank of Pakistan (NBP) and two corporate chiefs are in the crosshairs of the National Accountability Bureau (NAB) for allegedly engaging in a fraud to the tune of Rs10.4 billion. The accused include Azgard Nine Ltd CEO Abid Humayun Shaikh and CFO Abid Amin. The company is a […]
ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Tuesday signed two loan agreements worth $435 million aimed at supporting the country’s efforts to build modern transport infrastructure and create an environment for participation of the private sector in infrastructure schemes. The signing of the loan documents would remove irritants in completing other procedural formalities for […]
Over the past two and a half decades, bank loans to creditworthy private businesses and individuals as a ratio of GDP have been shrinking. This has prompted two central bank researchers to revaluate the worth of both financial market reforms as well as state-directed bank lending in the light of private ownership of the banking […]