Pakistan Secures $500 Million ADB Loan to Enhance Climate Resilience

The State Bank of Pakistan (SBP) announced receiving $500 million from the Asian Development Bank (ADB) under the Climate Change and Disaster Resilience Enhancement Programme (CDREP). This inflow will be included in the SBP's foreign exchange reserves for the week ending November 29, 2024, boosting the country’s import cover and stabilizing its currency. As of…

November 29, 20240Comments 261Views 0Likes

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Pakistan Moves to Secure Cryptocurrency and CBDCs, Tackling Rising Fraud

Pakistan’s central bank, the State Bank of Pakistan (SBP), has introduced a comprehensive proposal to regulate cryptocurrencies and central bank digital currencies (CBDCs), marking a turning point in the country’s financial sector. The amendments, proposed on Nov. 4, aim to legalize digital assets as legal tender and give state banks the authority to issue digital…

November 4, 20240Comments 84Views 0Likes

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