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Shahid Iqbal

Shahid Iqbal

Business Recorder

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Banks meet ADR limit to avoid tax

KARACHI: The banks have nearly achieved a 50 per cent advance-to-deposit ratio (ADR) to avoid the incremental tax imposed by the government if they...

yesterday 30

Dawn Business

Shahid Iqbal

Digital retail payments surge to Rs36tr: SBP

KARACHI: Retail payments through digital channels grew 9 per cent in volume to 1,699 million transactions valuing Rs36 trillion in the first quarter...

previous day 30

Dawn Business

Shahid Iqbal

Dollar outflow jumps 112pc in five months

KARACHI: Amid improvements in foreign exchange reserves, Pakistan has eased the outflow of profits and dividends, which surged by 112 per cent in the...

20.12.2024 10

Dawn Business

Shahid Iqbal

Current account posts fourth straight surplus

KARACHI: The current account recorded a fourth consecutive surplus of $729 million in November, marking the second-highest surplus since July 2013,...

19.12.2024 20

Dawn Business

Shahid Iqbal

Interest rate down to 13pc after 200bps cut

• Monetary Policy Committee notes inflation outlook susceptible to multiple risks, meeting revenue surplus targets will be uphill task • Core...

18.12.2024 10

Dawn Business

Shahid Iqbal

SBP expected to stay cautious on rate cut approach

KARACHI: The State Bank of Pakistan (SBP) is expected to take a cautious stance on reducing the policy interest rate despite significant room for a...

16.12.2024 20

Dawn Business

Shahid Iqbal

Economy on road to attaining stability: Finance Minister

KARACHI: Finance Minister Muhammad Aurangzeb has said that the economic challenges have been effectively addressed, and the country is on the right...

14.12.2024 20

Dawn Business

Shahid Iqbal

Govt raises Rs1.25tr, cuts T-bill yields by 100bps

KARACHI: The government on Wednesday cut the yields on treasury bills (T-bills) by up to 100 basis points across different tenors, strengthening...

13.12.2024 20

Dawn Business

Shahid Iqbal

Remittances fall 5pc in November

KARACHI: Remittances sent by workers during the first five months (July-November) of the current fiscal year FY25 jumped 34 per cent, but fell last...

11.12.2024 30

Dawn Business

Shahid Iqbal

Public companies incur Rs6tr losses in 10 years: Aurangzeb

KARACHI: Finance Minister Muha­mmad Aurangzeb said on Saturday that the growing burden of state-owned entities (SOEs) has cost the country Rs6...

09.12.2024 20

Dawn Business

Shahid Iqbal

Banks pump Rs2.2tr into non-govt sector

KARACHI: Banks pumped Rs2.2 trillion into the non-government sector, mainly the private sector and Non-Bank Financial Institutions (NBFIs), in the...

08.12.2024 40

Dawn Business

Shahid Iqbal

Govt raises Rs3.4tr via sukuk, PIBs

KARACHI: The government borrowed Rs2 trillion through auctions of sukuk (Islamic bonds) at the stock exchange and raised another Rs1.4tr by selling...

05.12.2024 10

Dawn Business

Shahid Iqbal

Expectations rise for big policy rate cut

KARACHI: The unexpected fall in inflation pushed the real interest rate to 10.1 per cent, creating ample room for the State Bank of Pakistan (SBP) to...

03.12.2024 10

Dawn Business

Shahid Iqbal

Banks pump Rs1tr into non-bank financial institutions

KARACHI: Banks have pumped a record over Rs1 trillion into non-bank financial institutions (NBFIs) to avoid incremental tax in case of failure to take...

01.12.2024 10

Dawn Business

Shahid Iqbal

Meezan declared ‘best bank’ for second consecutive year

KARACHI: Meezan Bank Limited was honoured as the Best Bank of Pakistan for a second year in a row, at the ninth Pakistan Banking Awards, held on...

30.11.2024 10

Dawn Business

Shahid Iqbal

SBP reserves jump $2.2bn since July

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves rose further by $131 million to $11.418 billion during the week ended on Nov...

29.11.2024 10

Dawn Business

Shahid Iqbal

Govt raises Rs1.2tr with cut in yields

KARACHI: The government has further slashed the returns on treasury bills (T-bills) by up to 66 basis points in the auction held on Wednesday....

28.11.2024 20

Dawn Business

Shahid Iqbal

SBP removes minimum deposit rule for conventional banks

KARACHI: The State Bank has rem­oved the Minimum Deposit Rate (MDR) requirement for all conventional banks on deposits from financial institutions,...

27.11.2024 10

Dawn Business

Shahid Iqbal

90pc bankers see cybercrimes as biggest threat

KARACHI: About 90 per cent of bankers believe that cybercrime is the biggest challenge confronting banking in the country, according to a survey...

26.11.2024 20

Dawn Business

Shahid Iqbal

Sharia governance framework for Islamic banking revised

KARACHI: The State Bank of Pakistan (SBP) has revised the Sharia Governance Framework to develop the Islamic banking industry and play a more...

23.11.2024 20

Dawn Business

Shahid Iqbal

Outflows from T-bills surpass inflows

KARACHI: Foreign investments in treasury bills (T-bills) sharply fell as outflows were four times higher than the inflows in the first week of...

22.11.2024 30

Dawn Business

Shahid Iqbal

Banks levy fees on large deposits to offset cash glut

KARACHI: In a bid to avoid a government levied tax, commercial banks have imposed a fee on deposits higher than their designated threshold, and set...

22.11.2024 20

Dawn Business

Shahid Iqbal

Banks boost lending to avoid tax

• Take measures to discourage deposits, against banking norms • Advance-to-Deposit Ratio jumps to 44pc from 39pc in a month • Much of lending...

21.11.2024 30

Dawn Business

Shahid Iqbal

Top bankers call for long-term planning

KARACHI: Frequent policy changes, low economic growth and imports, and lack of planning are among the key challenges threatening the country’s...

17.11.2024 20

Dawn Business

Shahid Iqbal

ADR falls to 37pc, IDR reaches 94pc

KARACHI: The country’s Advance to Deposit Ratio (ADR) has been gradually contracting and stood at 37 per cent in June, down from 41pc in December. ...

14.11.2024 10

Dawn Business

Shahid Iqbal

Debt-to-GDP ratio drops to 65.7pc in September

KARACHI: The country’s debt-to-GDP ratio dropped to 65.7 per cent in September, reversing last fiscal year’s upward trend, according to the latest...

12.11.2024 30

Dawn Business

Shahid Iqbal

Bank lending to private sector surges

KARACHI: Liquidity flow from banks to the private sector has changed dramatically, with advances surging to Rs447 billion in the first four months of...

10.11.2024 10

Dawn Business

Shahid Iqbal

Remittances jump by 35pc in July-October

KARACHI: Remittances from overseas Pakistani workers surged 35 per cent in the first four months of the current fiscal year, State Bank of Pakistan...

09.11.2024 20

Dawn Business

Shahid Iqbal

Falling credit profile blamed for foreign banks’ exit

KARACHI: Foreign banks are gradually withdrawing from Pakistan due to the country’s declining credit profile, while local banks, having grown...

08.11.2024 10

Dawn Business

Shahid Iqbal

Economy is on the mend: Aurangzeb

KARACHI: The country’s latest macroeconomic indicators reflect the positive developments that are reshaping its economic foundations in line with...

07.11.2024 40

Dawn Business

Shahid Iqbal

Aurangzeb links Eurobond launch with rating upgrade

KARACHI: Pakistan plans to issue Eurobonds in the next fiscal year after securing an improved ratings from international agencies, announced Finance...

06.11.2024 20

Dawn Business

Shahid Iqbal

Remittances cross $3bn in October: SBP chief

KARACHI: Higher foreign inflows are expected this month as the remittances crossed $3 billion in October, while the State Bank of Pakistan (SBP)...

05.11.2024 10

Dawn Business

Shahid Iqbal

Experts warn govt’s inability to launch Euro, Panda bonds can put economy under stress

KARACHI: The government’s inability to launch Euro and Panda bonds could put the economy under stress, which may not help the country get improved...

03.11.2024 40

Dawn Business

Shahid Iqbal

Returns on National Savings slashed

KARACHI: The government has sharply reduced returns on savings accounts by up to 360 basis points, further challenging small investors. Profit rates...

02.11.2024 20

Dawn Business

Shahid Iqbal

Govt cuts T-bill rates by 140bps

KARACHI: The government slashed the rate of treasury bills by up to 140 basis points on Wednesday in an auction held days before announcement of the...

31.10.2024 10

Dawn Business

Shahid Iqbal

NBFIs receive record Rs400bn bank loans in first quarter

KARACHI: As the private sector retires its debts, banks are increasingly lending to non-bank financial institutions (NBFIs), setting a record of Rs400...

29.10.2024 20

Dawn Business

Shahid Iqbal

Banks fail to increase lending as ADR remains at 39.3pc

KARACHI: The banks’ advance-to-dep­osit ratio (ADR) remained at 39.3 per cent last month — much below the red line of 50pc, which attracts a 15pc...

25.10.2024 20

Dawn Business

Shahid Iqbal

SBP poised for fourth straight policy rate cut

KARACHI: Most economists believe the State Bank of Pakistan (SBP) will reduce its policy rate by 200 basis points in its upcoming November meeting,...

24.10.2024 10

Dawn Business

Shahid Iqbal

Current account gap shrinks 92pc in first quarter

KARACHI: The current account posted a surplus of $119 million in September for the second consecutive month, while the current account deficit (CAD)...

22.10.2024 40

Dawn Business

Shahid Iqbal

SOE reforms fail to deliver desired outcomes: SBP

KARACHI: The state-owned enterprises (SOEs), both existing and the privatised ones, are still facing pinching issues, indicating that the reforms have...

20.10.2024 20

Dawn Business

Shahid Iqbal

Banks told to begin sugar export process for 0.5m tonnes

KARACHI: The State Bank of Pakistan (SBP) has asked banks to process the export of half a million tonnes of sugar, which may destabilise domestic...

17.10.2024 20

Dawn Business

Shahid Iqbal

Inflows rising amid growing confidence in economy

KARACHI: Improvements in the external front of the economy helped the country attract $125 million during the four days of October, taking the total...

16.10.2024 20

Dawn Business

Shahid Iqbal

Digital payments to wrap up paper-based banking

KARACHI: Digital payments, reaching 84 per cent of the overall payment ecosystem, have practically reached close to wrapping up paper-based banking in...

12.10.2024 20

Dawn Business

Shahid Iqbal

Remittances jump 39pc in July-September

KARACHI: The country witnessed a significant surge in remittances during the first quarter of the current fiscal year (FY25), with inflows jumping 39...

10.10.2024 10

Dawn Business

Shahid Iqbal

SBP jacks up incentives to boost remittances

KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced a three-time increase in monetary incentives for exchange companies to bring more...

09.10.2024 10

Dawn Business

Shahid Iqbal

Banks fail to lend ‘surplus’ cash to businesses

KARACHI: Banks have been unable to utilise surplus liquidity as the federal government seems to have discontinued borrowing for now while the private...

08.10.2024 20

Dawn Business

Shahid Iqbal

It’s not all doom and gloom in corporate sector

KARACHI: Contrary to frequent closures of local businesses, Pakistan witnessed a higher arrival of foreign companies than those leaving the country in...

06.10.2024 30

Dawn Business

Shahid Iqbal

Higher liquidity to improve private sector lending: SBP chief

KARACHI: The government adopted the buyback option for treasury bills because its financial requirement is very low, State Bank Governor Jameel Ahmed...

03.10.2024 10

Dawn Business

Shahid Iqbal

Banks trapped in surplus liquidity

KARACHI: Banks find themselves trapped in liquidity surplus these days, forcing them to start lending at throwaway rates as low as three per cent per...

02.10.2024 50

Dawn Business

Shahid Iqbal

Govt saves Rs11.5bn in historic T-bills buyback

KARACHI: In a rare move, the government on Monday opted for a buyback of costly treasury bills worth Rs351 billion at a much lower rate, saving over...

01.10.2024 90

Dawn Business

Shahid Iqbal

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