Pakistan
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
Frontier bonds find buyers as investors reach for yield
Pakistan sells $2 billion worth of Eurobonds as investors look for alternatives to US Treasuries; Greece and Swaziland among countries to find success with bonds in own currency
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
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
Pakistan deputy wants new data protection laws for payments
Ashraf Mahmood Wathra welcomes the ‘innovative banking practices’ driving financial inclusion but says data protection must keep pace
Pakistan adds Basel III capital surcharge to allow for modelling shortfalls
State Bank of Pakistan outlines its Basel III capital requirements for domestic banks
Pakistani governor calls for 'concerted effort' to promote Islamic banking
SBP is launching media campaign to address misconceptions about Islamic finance
People: FSB appoints new chairs; Pakistani board reaches full strength
Three central bankers appointed to head Financial Stability Board committees; Pakistan completes drive to fill governing board; and more
Pakistan bank governor calls for deeper shadow bank participation
Yaseen Anwar identifies 'huge opportunities' for shadow banking to capitalise on; says NBFIs must face stronger regulation in tandem
Pakistan says Nato pull-back worsened rupee depreciation
State Bank of Pakistan annual report finds closure of Nato supply lines to Afghanistan contributed to a 9.1% depreciation of the rupee against the dollar in fiscal 2011–12
Pakistani minutes show weak economy but low inflation
State Bank of Pakistan minutes show low level of private-sector credit and declining foreign investment behind stagnant economy; inflation lower than expected
Islamic finance championed by eight-strong central bank pact
Heads of central banks within the Developing-8 organisation agree to work together to increase the size of the Islamic Finance industry
Pakistan’s Muktadir lauds mobile payments transition
State Bank of Pakistan deputy governor says uptake of mobile phone and smart card banking is changing the finance landscape in Pakistan
Banking industry needs to deliver wider services, says Pakistan deputy
Kazi Abdul Muktadir discusses future inclusion strategies in Pakistan’s banking industry, including banks being forced to open branches in rural and under-served areas if they want to expand
Pakistan develops five-year Islamic finance plan
State Bank of Pakistan’s Kazi Abdul Muktadir praises the growth of the Islamic finance industry; outlines new operational frameworks
‘Branchless’ banking increasing in Pakistan
So-called 'branchless banking' transactions grew 23% between January and March this year; accounts linked to mobile phones reached over 1 million during the period
State Bank of Pakistan decides to implement IBAN
Pakistan to see International Bank Account Number system fully in place by June 2013; central bank hopes change will make payments more efficient in the country
Pakistan’s Anwar calls for development of corporate bond markets
State Bank of Pakistan governor wants to see corporate bond market developed in the country; stresses government must be open to change for process to work
State Bank of Pakistan warns on ‘deteriorating’ budgetary conditions
State Bank of Pakistan quarterly report says government fell short of budget target last year; warns drying up of foreign direct investment could leave economy vulnerable
Pakistan forges ahead with mobile banking promotion
State Bank of Pakistan signs agreement with national telecommunication authority to further the development of mobile banking in the country
Anwar stresses rising importance of Islamic finance
Governor of the State Bank of Pakistan discusses developments in Islamic finance and calls for innovation to continue