SBP - Banking Sector / Federal Board of Revenue

[hydrabadi_arab]

FIA registers case against FBR ex-chairman Shabbar Zaidi​

By Zeeshan Shah
October 31, 2025

Former Federal Board of Revenue Chairman Shabbar Zaidi speaks at a press conference. — State Media/File

KARACHI: A case has been registered against former Federal Bureau of Revenue (FBR) chairman Shabbar Zaidi. The FIR was registered at the Federal Investigation Agency’s (FIA) Anti-Corruption Circle, Karachi.

Zaidi is accused of misusing his authority as FBR chairman. Unauthorised payments of Rs16 billion were made, according to the text of the FIR. The money was allegedly transferred to Zaidi’s clients as refund.

Advertisement

The funds were transferred to Habib Bank, Engro and DG Khan Cement among other companies, according to the FIR, which states that the FBR and bank officials misused their authority.

Isn't he the same guy who come on TV every week to explain whats wrong with Pakistan economy?

 

[SD 10]

Isn't he the same guy who come on TV every week to explain whats wrong with Pakistan economy?

They all do it once thay are retired

 

[Mighty_Dragon_Strike]

FIA registers case against FBR ex-chairman Shabbar Zaidi​

By Zeeshan Shah
October 31, 2025

Former Federal Board of Revenue Chairman Shabbar Zaidi speaks at a press conference. — State Media/File

KARACHI: A case has been registered against former Federal Bureau of Revenue (FBR) chairman Shabbar Zaidi. The FIR was registered at the Federal Investigation Agency’s (FIA) Anti-Corruption Circle, Karachi.

Zaidi is accused of misusing his authority as FBR chairman. Unauthorised payments of Rs16 billion were made, according to the text of the FIR. The money was allegedly transferred to Zaidi’s clients as refund.

Advertisement

The funds were transferred to Habib Bank, Engro and DG Khan Cement among other companies, according to the FIR, which states that the FBR and bank officials misused their authority.

waste of resources really!

 

[hydrabadi_arab]

They all do it once thay are retired

At least he cant play pro PTI card now. Hopefully he stop preaching on tv shows now.

 

[SoulSpokesman]

@hydrabadi_arab

Isn't he the same guy who come on TV every week to explain whats wrong with Pakistan economy?

So why doesnt he do something to fix it?

Regards

 

[Fatman17]

@hydrabadi_arab

Isn't he the same guy who come on TV every week to explain whats wrong with Pakistan economy?

So why doesnt he do something to fix it?

Regards

He was kicked out by FBR babus who didn't follow his orders - so he resigned

 

[ghazi52]

Local sales tax collection: 15 sectors make major contribution​

Electrical energy leading contributor, accounting for 22.8% of total

Sohail Sarfraz
Published November 10, 2025

 

[ghazi52]

Pakistan central bank defines annual sales turnover limits for SMEs​

Annual revenue of micro enterprises set at Rs30 million, annual revenue from Rs30 million to Rs150 million set for above micro enterprises

Gohar Ali Khan

KARACHI: The State Bank of Pakistan (SBP) has defined annual revenue limits for small and medium enterprises (SMEs) to facilitate them for obtaining financing from banks in accordance with their sizes of sales turnover under the updated regulations.

The banking regulator has divided small enterprises into two categories in the updated Prudential Regulations for SMEs financing. The annual revenue of micro enterprises has been set at Rs30 million, annual revenue from Rs30 million to Rs150 million has been set for above micro enterprises.

The central bank retained annual sales turnover for medium-sized enterprises from Rs150 million to Rs800 million. A small enterprise or medium enterprise up to 5 years old will be considered as Start-up SE or start-up ME.

 

[ghazi52]

According to the regulations, SMEs and startups should be an independent, for profit, and privately owned enterprise to qualify for banks financing.

A small enterprise (micro & above micro enterprises) can avail facilities (funded and non funded) of up to Rs100 million, and a medium enterprise (ME) up to Rs500 million from a single bank or from all banks/DFIs (Development Finance Institutions )/MFBs (Mircorfinance Bank).

Banks/DFIs may deduct the liquid assets (encashment value of bank deposits, certificates of deposit/investment, Pakistan Investment Bonds, Treasury Bills and National Saving Scheme Securities) held under their perfected lien for the purpose of calculation of per party exposure limit, according to Prudential Regulations.

 

[ghazi52]

Banks/DFIs shall either develop their own digital credit scoring models or develop partnerships with reputed third parties, fintechs etc. to determine credit score of the applicant SMEs. The models, inter alia, shall have the capacity to leverage the data like:

1. transactional and cash flow data,
2. bank account activity,
3. digital supply chain data, and
4. other verifiable alternate data sources.

Banks/DFIs can take clean exposure on SMEs (the cash flow-based facilities secured solely against personal guarantees) as determined by them based on the SME’s cash flows strength, financial condition, credit worthiness, credit score etc and risk appetite of the bank/DFI.

 

[ghazi52]

SBP governor calls for regional capital market integration to mobilise climate finance​

Banking sector alone can not meet country’s long-term investment needs, Jameel Ahmad says

Salman Siddiqui

KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad on Tuesday called for integration of regional capital markets to mobilise financing for critical projects, including related to climate change and infrastructure.

He noted that the banking sector alone could not meet the country’s long-term investment needs, saying the domestic economy moved toward a higher growth trajectory.

“With the [Pakistan’s] economy having stabilised and now on course for higher growth, we are in a stronger position to undertake a series of structural reforms, including deepening of our financial markets,” Governor Ahmad said speaking at the international capital market conference and exhibition 2025 titled ‘Regional Integration and innovation in Capital Markets: A New Era of Cooperation’, organiaed by the Securities and Exchange Commission of Pakistan (SECP) on Tuesday.

“In economies with low saving rates where bank financing alone cannot meet long-term investment needs particularly for climate and infrastructure projects, regional capital markets can play a pivotal role.”

He maintained that the potential integration of capital markets in Asian region represented a “historic opportunity”.

“It would be a pathway to harness the region’s savings for its own development. It will strengthen financial stability and it will amplify our collective voice in the global financial system. We must act with vision and enhanced coordination.”

 

[ghazi52]

SBP limits cash dollar transactions​

Shahid Iqbal
November 16, 2025

• Makes account-to-account transfer mandatory for dollar deposits
• Individuals no longer allowed to buy cash dollars from open market

KARACHI: The State Bank of Pakistan (SBP) has decided to limit cash dollar transactions and instructed banks to transfer dollars directly into the accounts of the purchasers. Exchange companies, however, said the decision will not affect the purchase of dollars for travel or other purposes.

The SBP issued a circular with amended instructions related to foreign currency transactions for individuals. “In order to promote cashless economy, it has been decided that, henceforth, all FCY (foreign currency) sale transactions to resident citizens of Pakistan for the purpose of deposit into FCY account will be executed through account-to-account transfer,” the SBP circular stated.

Exchange companies explained that the move means individuals buying dollars for deposits will no longer receive cash; instead, the amount will be transferred directly to their accounts. Those without foreign currency accounts will not be able to buy cash dollars.

“If you buy dollars from an exchange company for deposit in an FCY account, the company will issue a cheque of that amount, which will be deposited in the FCY account of the bank,” said the owner of an exchange company.

If a buyer receives a cheque from an exchange company, it will take at least five days for clearance when deposited into the FCY account. However, if the buyer has an FCY account in the same bank as the exchange company, the dollars will be transferred immediately.

There are restrictions for individual buyers: they cannot purchase more than $500 without providing the purpose, biometric verification and supporting documents. Travelers, students and individuals going for Haj or Umrah must provide complete documentation to buy over $500.

 

[ghazi52]

“Now, an exchange company cannot sell even $500 cash to any individual without stating the purpose,” said an exchange company representative.

Independent exchange companies said the circular will benefit bank-owned exchange companies, as the SBP has been encouraging banks to open their own outlets. The new rules will help banks’ exchange companies attract more customers.

Currency experts said individuals buying euros or pounds will face longer delays. Any euro or pound purchased from an exchange company will be issued via cheque, which will take 20-25 days to clear if deposited in the buyer’s FCY account.

“Even if you buy foreign currency from a bank’s exchange company, but your FCY account is in another bank, the transaction will take at least five days,” a currency expert said.

Money changers said the SBP circular prevents them from holding cash dollars in banks’ accounts, meaning they will have to sell directly in the banking market. “We could perform the same transactions as banks’ exchange companies, if we were allowed to hold dollars in our bank accounts,” said another money changer.

Published in Dawn, November 16th, 2025

 

[ghazi52]

Foreign assistance: Pakistan secures $2.29bn in first four months of FY26​

To keep foreign exchange reserves at a comfortable level, Pakistan held $9 billion as a term deposit

Hamza Habib
November 20, 2025

ISLAMABAD: Pakistan has received a total amount of USD 2.29 billion in foreign assistance during the first four months of fiscal year 2025-26 (FY26), which includes bilateral and multilateral loans and grants, as well as investments in the Naya Pakistan Certificates.

The statistics released by the Economic Affairs Division show that during the July-October period of FY26, total multilateral grants stood at USD26.80 million, whereas the total amount of grants reached USD5.27 million in October alone. In four months of FY26, the highest amount of grant came from the IBRD, USD15.40 million, IDA USD 8.18 million and from IFAD USD 2.72 million.

During the July-October FY26 period, the disbursement of multilateral loans reached USD1.11 billion. Whereas the multilateral loans in October amounted to USD169.5 million. In four months of FY26, IsDB provided a short-term loan of USD361 million and a long-term loan of USD50 million, IDA provided USD 304 million, IBRD provided USD173.74 million, ADB provided USD167.4 million, AIIB provided USD41.35 million, and IFAD provided USD 10 million. Alone in October, the disbursement of multilateral loans reached USD169.5 million.

 

[ghazi52]

The country received a bilateral grant of USD23.76 million, whereas in October, the grant amount was USD 4.12 million. Major bilateral grants came from China, USD 9.75 million, Japan, USD 9.69 million and Germany, USD 3.56 million.

The total bilateral loan during the July-October FY26 period remained USD 449.90 million, of which a major component was the Saudi Oil Facility with USD 400 million. Apart from this bilateral loan of USD 9.75 million received from China, USD 15.61 million from France, USD 6.69 million from Japan, USD 6.55 million from South Korea, and USD 3.56 million from Germany. The combined multilateral and bilateral grants stood at USD 50.56 million, while loan disbursements totalled USD 1.78 billion in the same period.

The FY26 budget estimates for multilateral grants are USD63.72 million, with loans projected at USD 5.04 billion. Disbursements against the Naya Pakistan Certificates in the July-October period amounted to USD 541.57 million, against a total FY26 budget estimate of USD 734 million.

To keep foreign exchange reserves at a comfortable level, Pakistan held USD 9 billion as a term deposit. Out of which the Kingdom of Saudi Arabia provided USD 5 billion, and China Safe Deposit of USD 4 billion.