State Bank of Pakistan (SBP)
SBP looked to boost staffing and IT capabilities in past year
Annual report details HR, IT and cyber initiatives as part of broader effort to build capacity
State Bank of Pakistan spends $1.2 million on department move
Banking subsidiary to move five of its operations to the northern and central provinces; move will help “streamline” operations, spokesperson says
IMF staff call for greater Pakistan central bank autonomy
Significant progress made but further effort regarding legal amendments still needed, IMF report says; State Bank of Pakistan working on legislative action plan while executive orders fill gap
State Bank of Pakistan sees financial sector ‘flourish’
Financial stability review highlights record after-tax profit and high capital adequacy ratio, as well as improvement in asset quality
SBP catches markets off guard with cut
State Bank of Pakistan’s MPC votes for rate cut after being split 5-5 in April, confounding markets’ expectations; inflation on the rise
SBP’s Aziz sees renminbi gaining ground in global reserves
Pakistan’s reserves head sees potential for Chinese renminbi to muscle in on the euro and yen’s territory in global reserves, on account of negative interest rates
People: Bank Negara reappoints deputy; State Bank of Pakistan revamps board
Sukudhew Singh will serve another three years as deputy; Pakistan appoints new board members
State Bank of Pakistan reveals first MPC members
Formation of monetary policy committee is part of a broader drive towards independence and inflation targeting; one seat remains unfilled
Pakistan central bank ‘implicitly’ introduced new policy framework ahead of time
State Bank of Pakistan reveals it ‘implicitly’ introduced a new framework for monetary policy before it was officially announced, to avoid ‘unnecessary volatility’ in money market
State Bank of Pakistan overhauling risk management, annual review says
Central bank is looking to improve its risk management approach, with work proceeding on an enterprise risk management system
Pakistan completes shift to new policy rate
New target rate and tighter corridor aims to improve the transmission of monetary policy; central bank slashes rates as inflation continues to fall
People: New deputy in Pakistan; BoE’s Cornish leaves PRA
State Bank of Pakistan promotes chief economic adviser; founding board member of the Prudential Regulation Authority steps down; Uruguayan governor and deputy confirmed; and more
State Bank of Pakistan mulls new target rate
New proposals aim to establish a new ‘target rate’ within the existing interest rate corridor; advisory committee on monetary policy will decide whether to adopt them next month
Pakistan targets automated cash management in five years
State Bank of Pakistan aims to automate cash management and urges commercial banks to follow suit; deputy governor says it will help ensure only clean and genuine notes circulate
State Bank of Pakistan slashes rates to decade low
Governor Ashraf Mahmood Wathra strikes upbeat note despite inflation falling significantly below target, as central bank cuts interest rates by 100 basis points
SBP annual report highlights ‘two phase’ year
Pakistan’s economy suffered turbulent spell in 2013, but IMF agreement saw a return to relative stability; central bank praises government for ‘long-awaited’ return to fiscal discipline
SBP annual report highlights year of ‘critical’ changes
Governor highlights major amendments to the State Bank of Pakistan’s operations that are currently being considered by Parliament; accounts show rise in both profits and governor’s salary
SBP launches shariah-compliant open market operations
Islamic banks in Pakistan will now have access to central bank liquidity operations; survey reveals strong demand for Islamic finance in the country, but coverage remains patchy
Pakistan governor sets out communications ‘revamp’
State Bank of Pakistan’s Wathra says the central bank will be updating its website to make it more ‘transparent’ as well as running workshops for local journalists
Wathra appointed Pakistan governor
Ashraf Mahmood Wathra joined the central bank as a deputy governor last year, and has now been handed a three-year term as governor
State Bank of Pakistan has 'critically low' reserves
IMF says Pakistan’s reserves position will remain critical even with ‘stellar’ programme adherence; urges changes to central bank law to boost independence
Pakistan looks to raise public profile of Islamic finance
The State Bank of Pakistan launches a five-year strategic plan to develop Islamic finance domestically and abroad; sets focus on improving public perception of the industry
Ben Bernanke joins Brookings; State Bank of Pakistan promotes deputy to acting governor
Bernanke, who left the Federal Reserve on Friday, will engage in ‘research and writing' at the Washington think-tank; State Bank of Pakistan deputy steps up after governor's departure
Pakistan governor resigns for ‘personal reasons’
Yaseen Anwar steps down from the State Bank of Pakistan top job after a family member suffers a serious injury; new deputy governor appointed to help grow the Islamic banking sector