Finance
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SBP Announcement: CNIC not needed for sub-$5000 foreign exchange deals
KARACHI (February 11 2010): The State Bank of Pakistan (SBP) on Wednesday announced that sellers and buyers of foreign exchange…
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Banking Companies (Amendment) Bill 2009 passed: SBP given powers to take control of banks
ISLAMABAD (February 09 2010): The National Assembly has passed the Banking Companies (Amendment) Bill 2009 enabling the State Bank of…
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Finance Amendment Ordinance 2009 re-promulgated: Empowers Tax Officials
ISLAMABAD (February 09 2010): The federal government has re-promulgated the Finance Amendment Ordinance 2009 empowering tax officials to continue with…
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STARR to have detailed information on business bank accounts for refund claims
ISLAMABAD (February 09 2010): Detailed information on the business bank accounts of registered taxpayers would directly be available to the…
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FBR to credit tax refunds upto Rs 50,000 to bank accounts
KARACHI (January 23 2010): In order to speed up tax refund process, the Federal Board of Revenue (FBR) has decided…
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FBR to issue investment bonds to swap tax refund liability with banks
KARACHI (January 22 2010): The Federal Board of Revenue is going to issue investment bonds to banks to swap tax…
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SBP to gradually adopt AAOIFI's Shariah standards
KARACHI (January 17 2010) – The State Bank of Pakistan (SBP) has decided to gradually adopt Shariah standards issued by…
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SECP allows KESC to issue 14.5 percent right shares
KARACHI (December 12 2009): The Securities and Exchange Commission of Pakistan (SECP) has allowed the Karachi Electric Supply Company (KESC)…
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SBP removes conditions on commercial banks for wheat financing
KARACHI (November 11, 2009) – The State Bank of Pakistan (SBP) has withdrawn the conditions placed on commercial banks for…
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Bosicor posts heavy loss of Rs10.33bn for 2009
KARACHI (November 11, 2009) – Loss after tax of Bosicor Pakistan refinery has jumped to Rs10.33 billion for the year…
