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SBP doubles MCR for banks
KARACHI: The State Bank of Pakistan (SBP) has announced a 100 percent increase in the Minimum Capital Requirement (MCR) for new and existing banks operating in Pakistan, citing rising operating costs associated with establishing and running financial institutions on a sustainable basis. The SBP has increased the MCR for locally operating banks including Islamic banking subsidiaries of banks from Rs10 billion to Rs20 billion. According to SBP, keeping in view the increased operating costs to establish and manage financial institutions on sustainable basis, it has been decided to enhance the MCR...
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