SBP Orders Banks to Settle Premium Prize Bond Sales Daily
State Bank of Pakistan has revised the Premium Prize Bond settlement mechanism, requiring banks to settle reported sales on the same day and pay charges for delayed settlements.
FBR Restricts Operations of 150 Jewellers Bank Accounts Over Compliance Failures Under Anti-Money Laundering Framework
The Federal Board of Revenue instructs 29 banks to freeze debit transactions across 150 accounts belonging to jewellers due to persistent AML compliance violations.
NIBAF Pakistan Unveils Training Program on Business Conduct and Fair Treatment of Consumers Regulatory Framework
NIBAF Pakistan introduces an administrative development workshop led by central bank experts to guide financial professionals on the consumer protection regulatory matrix.
SBP Updates Foreign Exchange Exposure Limit to Enhance Market Flexibility
The State Bank of Pakistan has revised the foreign exchange exposure limit for banks, aligning it with Tier-1 capital to provide improved flexibility and risk sensitivity in FX market operations.
SBP Receives Unclaimed Deposits from Banks: Here’s How You Can Claim Your Funds
The State Bank of Pakistan confirms receipt of unclaimed deposits from all banks and DFIs as of December 31, 2023. Individuals can now reclaim their funds by following the SBP refund process through respective bank branches.