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Mandatory Higher Return on Savings AccountsAccording to the latest monetary policy statement of State Bank of Pakistan, the mandatory minimum interest rate offered by banks is set to increase on May 1, 2012. The new minimum requirement is 6%. The current minimum interest rate requirement is 5%, which was set in 2008. This positive move will be welcomed by millions of depositors across Pakistan. |
Banks in the UAEProud to announce our second website for the Middle East market. www.banksintheuae.com
Improve your finances in 2012In this section, we will bring you one new idea every day to help improve your finances in 2012 Automate SavingsTake advantage of your job benefits Select the bank that's right for you College education plans Payoff expensive loans Renovate your home this year Get Organized Indian Banks Ready to enter Pakistani MarketState Bank of India has agreed to enter the Pakistan Banking sector after discontinuing services for the last 45 years. Both countries agree that such ventures would help improve financial relations between the two countries. Initially, due to the high capitalization requirements, Indian banks were discouraged from entering Pakistan’s banking sector; however the parameters have been scaled down through mutual discussions and the State Bank of India will now invite their local banks to participate in investing in Pakistani Banking. |
Islamic Fixed Deposits with Top Historic ReturnsKASB Bank leading the race to buy HSBC operations!The State Bank of Pakistan, last Tuesday, has granted permission to KASB Bank to initiate their due diligence process for the acquisition of HSBC Pakistan operations. KASB Bank had been amongst the first few banks to show interest when HSBC announced their intentions to leave the Pakistani banking sector; BankingOur listing is based on Pakistan Credit Rating Agency Limited ratings. We will continue to revise our listing based on PACRA ratings.
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