The State Bank of Pakistan (SBP) has announced an exemption for specific types of deposits from the Minimum Profit Rate requirement, as outlined in circulars issued over a decade ago. This decision was communicated in a circular released today.

According to the SBP, the minimum rate of return on saving deposits will no longer apply to deposits held by financial institutions, public sector enterprises, and public limited companies. This exemption references BPRD Circular No. 05 of 2014, dated May 27, 2014, and BPRD Circular No. 07 of 2013, dated September 27, 2013.

These new instructions will take effect on January 01, 2025. The SBP clarified that all other existing instructions on the subject will remain unchanged.