Pakistan

Pakistan Looks to Deepen Trade & Energy Ties with Russia

Seeking to capitalize on recent meetings with high level officials of Russia and following a July 2024 session of the

Dubai Islamic Bank Pakistan Joins IFC’s Global Trade Finance Program

Pakistani Banks Required to Arrange USDs for Import LCs

State Bank of Pakistan (SBP), the country’s central bank, has lifted restrictions on Pakistani banks opening letters of credit

Pakistan Prioritizes LCs for Tea

In advance of Ramadan 2023, the Pakistan government listed tea as an essential commodity in order to meet high domestic demand for tea, and the government ordered State Bank of Pakistan to issue mandatory instructions for banks to open letters of credit for tea, declaring tea a ‘primary import’.

Pakistan Expands Import LC Requirement

In an effort to boost protection of the country’s dwindling foreign reserves, the government has directed all importers to

Pakistan: No Restrictions on LCs

Citing media misinformation intended to create uncertainty in the oil and gas market, the State Bank of Pakistan (SBP) issued

IMF Funds USD 1.1b to Pakistan

Following its review under the Extended Fund Facility (EFF) for Pakistan, the International Monetary Fund (IMF) announced on 29 August an immediate disbursement of USD 1.1b in financial assistance to Pakistan.

Pakistan: Additional Support for Oil LCs

Prime Minister Shehbaz Sharif has promised that the Pakistani government will intervene on behalf of oil refineries facing potential shutdown

FATF Updates Its Listing of Jurisdictions Under Increased Monitoring

The Financial Action Task Force (FATF) identified 23 jurisdictions under increased monitoring in October 2021 which are actively working with

Strengthening Pakistan Rupee "top priority"

PAKISTAN: Ishaq Dar, appointed on 28 Sept as the country’s finance minister for the fourth time, has made strengthening