KARACHI, PAKISTAN: The Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP) decided to raise the interest rate by 125 basis points to 15 percent. In addition, as foreshadowed in the last monetary policy statement, the interest rates on EFS and LTFF loans are now being linked to the policy rate to strengthen monetary…
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SBP to launch Asaan Mobile Account
KARACHI, PAKISTAN: The State Bank of Pakistan (SBP) will be launching a new initiative, Asaan Mobile Account (AMA) on Monday, December 13, 2021, a news release said. The initiative has been developed under the National Financial Inclusion Strategy with objective to bring further ease in remote account opening under branchless banking. “This means that the…