SBP releases first and second quarterly report of Payment Systems for the Fiscal Year 2022-23

Karachi, April 11, 2023 (PPI-OT):State Bank of Pakistan released its first and second quarterly report of Payment Systems for the Fiscal Year 2022-23 today covering the period July to December 2022. The report presents major highlights of payments ecosystem in the country and comprehensive analysis of transactions processed through the payment’s infrastructure.

Raast – SBP’s initiative for providing instant cost efficient, has witnessed promising growth as number of Raast users increased from 15.0 million as of end Q4-FY22 to 21.1 million by Q1-FY23 and 25.8 million by Q2-FY23 showing a growth of 72.1% since Jun-22. Number of transactions processed through Raast increased from 7.1 million to 21.5 million (202.1%) while value increased from Rs98.4 billion to Rs578.6 billion (488.1%) since Q4-FY22.

During the quarter Q1-FY23, total e-banking transactions witnessed a growth of 4.1% in volume while value declined by 5.0%. However, in quarter Q2-FY23, e-banking showed growth in both volume (12.6%) and value (6.5%) of transactions reaching to 515 million and Rs42.5 trillion respectively. Since Q4-FY22, internet and mobile phone banking users have increased by 21% (10.1 million users) and 22% (15.0 million users) respectively.

Transactions through internet and mobile phone banking channel also showed continued growth in both quarters with combined quarterly growth of both channels of 11% by volume and 11% by value in Q1-FY23 while in Q2- FY23, volume grew by 18% and value by 15%. Number of e-commerce transactions in both quarters declined but the value increased by 11.6% during Q1-FY23 and 2.2% in Q2-FY23.

Point-of-Sale (POS) deployed across the country grew by 3.8% since previous fiscal year FY22 reaching to 108,899 by the end of Q2-FY23. During July to December 2022, a total of 94.8 million transactions amounting to Rs493.2 billion were processed at POS terminals. Number of ATMs also increased from 17,133 in Q4-FY22 to 17,547 by Q2-FY23.

Payment cards in circulation issued by Banks/ MFBs and EMI at the quarter end of Q4-FY22 was 43.0 million which increased to 46.5 million by the end of Q2-FY23. Majority of the issued cards are Debit cards (73.8%) followed by Social Welfare cards (21.8%), Credit cards (4.1%) and Prepaid cards (0.2%).

For details: https://www.sbp.org.pk/psd/pdf/PS-Review-Q1FY23.pdf https://www.sbp.org.pk/psd/pdf/PS-Review-Q2FY23.pdf

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

Workers’ Remittances in March 2023

Karachi, April 10, 2023 (PPI-OT):

Workers’ remittances recorded an inflow of US$2.5 billion during Mar 23.

In terms of growth, during Mar 23, remittances increased by 27.4 percent on m/m and decreased by 10.7 percent on y/y basis.

With cumulative inflow of US$ 20.5 billion during first nine months of FY23, the remittances decreased by 10.8 percent as compared to the same period last year.

Remittances inflows during Mar 23 were mainly sourced from Saudi Arabia ($563.9 million), United Arab Emirates ($406.7 million), United Kingdom ($422 million) and United States of America ($316 million)

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

Collection of government duties/ taxes on 30th and 31st March 2023

Karachi, March 30, 2023 (PPI-OT): (SBP)In order to facilitate the taxpayers in payment of Government duties / taxes, it has been decided on the request of Federal Board of Revenue (FBR) that all branches of banks including National Bank of Pakistan (NBP) and field offices of SBP Banking Services Corporation (SBP-BSC) shall observe extended banking hours until 04:00 P.M. and 06:00 P.M. on 30th and 31st March, 2023 respectively for collection of government taxes through ADC’s Over-the-Counter (OTC) facility.

NIFT shall arrange a special clearing at 06:00 P.M. on 31st March, 2023 (Friday) for the same day clearing of payment instruments deposited at NBP’s authorized branches for customs collections. For this purpose, all banks shall arrange to keep their clearing related branches open till such time that is necessary to facilitate the special clearing by NIFT on March 31, 2023 (Friday).

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

Branches of authorized banks to remain open on Saturday and Sunday for The collection of Hajj Application Forms along with dues for Hajj 2023

Karachi, March 24, 2023 (PPI-OT): In order to facilitate the intending pilgrims to deposit application forms along with dues for Hajj 2023,
State Bank of Pakistan has directed 14 authorized banks to keep all their designated branches open
from 09:00 a.m. to 2:00 p.m. on Saturday and Sunday (i.e., 25-03-2023 and 26-03-2023) throughout
the country.

Earlier, in terms of Hajj Policy 2023, the Ministry of Religious Affairs and Interfaith Harmony has authorized 14 banks (viz. National Bank of Pakistan, Habib Bank, United Bank, MCB Bank, Allied Bank,
Bank of Punjab, Bank Alfalah, Zarai Taraqiati Bank, Faysal Bank, Askari Bank, Bank Al-Habib, Habib Metropolitan Bank, Soneri Bank and Meezan Bank) to collect application forms along with dues from intending pilgrims for Hajj 2023 w.e.f. 16th March 2023 till 31st March 2023 throughout the country.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

SBP announces office and business hours during the month of Ramadan-ul-Mubarak

Karachi, March 22, 2023 (PPI-OT): During the ensuing holy month of Ramadan-ul-Mubarak 1444 AH, the following office hours will be
observed in the State Bank of Pakistan, which will also be followed by all banks, development finance
institutions and microfinance banks: – Monday to Thursday from 09:00 am to 03:30 pm with prayer break from 2:00 pm to 2:30 pm whereas on Friday’s office hours will be from 08.30 am to 1:00 pm without break.

However, it is further advised to observe the following business (banking) hours for public dealing: Monday to Thursday from 09:00 am to 02:00 pm without break whereas on Friday’s business (banking) hours for public dealing will be from 08:30 am to 1:00 pm without break. After the holy month of Ramadan-ul-Mubarak, the above timings will automatically be reverted to pre-Ramadan-ul-Mubarak timings.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

State Bank to Issue Rs. 50/- Commemorative Coin on the Golden Jubilee of the Senate of Pakistan

Karachi, March 17, 2023 (PPI-OT): The Senate of Pakistan or Aiwan-e-Bala Pakistan, constitutionally House of the Federation, is the upper
legislative chamber of the bicameral parliament of Pakistan. The Senate of Pakistan, having equal
representatives from all provinces of Pakistan, is a permanent House, symbolizing a process of
continuity in the national affairs.

The year 2023 marks the Golden Jubilee of the Senate of Pakistan. To celebrate this significant occasion, the Federal Government has authorized the State Bank of Pakistan (SBP) to issue a Commemorative Coin of Rs. 50. The coin shall be issued through the exchange counters of all the field offices of SBP Banking s Corporation from March 17, 2023.

The metal composition, shape, dimension and design of Rs. 50 commemorative coins are as under:
COMPOSITION:

The coin is in round shape milled with dimension of 30.0 mm, weight 13.5 grams and has Cupro-Nickel metal contents (Copper 75% and Nickel 25 %).

OBVERSE:

The waxing crescent moon and five-pointed star facing North West in position is in the center of the obverse face of the coin. Along the periphery, on top of crescent star the words ‘ISLAMI JAMHURIA PAKISTAN’ are inscribed in Urdu Script. Below the crescent and on the top of two springs of wheat with
arms curved upward, there is the year of issuance-2023. The face value of coin in numeral ‘50’ in bold letters and ‘RUPIA’ in Urdu script are written on the right and left sides of crescent star respectively.

REVERSE:

On the reverse side and in the center of the coin, Insignia of the Senate of Pakistan is shown with the artistic numeral wording of 50 on the right-hand side. Along with periphery on the top of the insignia is inscribed in wording ‘Pakistan Senate Golden Jubilee’ in Urdu script. The duration of golden jubilee
(1973-2023) is written below the insignia.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

The Last Date for Encashment of Withdrawn Prize Bonds Extended

Karachi, March 15, 2023 (PPI-OT): The Federal Government has given another opportunity to the public to get the withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 redeemed/encashed by June 30, 2023. Earlier, the government had fixed deadline of June 30, 2022, for redemption/encashment of these prize bonds, however, considering that some of the prize bond holders could not get their bonds redeemed a final opportunity has been given for encashment of prize bonds till 30th June 2023.

The investors of aforesaid prize bonds have following options of encashment or exchange.

a. Encashment at Face Value

b. Conversion to Premium Prize Bonds of Rs. 25,000 and/or Rs. 40,000 (Registered)

c. Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC)

The prize bonds can be redeemed from SBP Banking Services Corporation office and branches of commercial banks across the country till 30th June 2023. The SBP has issued necessary instructions to commercial banks to accept requests from general public for encashment or exchange of the prize bonds till the extended date.

The general public holding these bonds is encouraged to avail this final opportunity and get their holdings redeemed before 30th June 2023. These prize bonds shall not be en-cashable or exchangeable after the expiry of the extended deadline, thereby rendering them worthless.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk