KARACHI: The State Bank of Pakistan would soon examine the possibilities of setting up of an export-import bank to facilitate business community, and the ministry of finance and other relevant ministries would be consulted at an earliest.

An assurance in this regard was given to businessmen by SBP’s Acting Governor Saeed Ahmed during his visit to Karachi Chamber of Commerce and Industry (KCCI) on Wednesday.

The SBP’s acting governor said that the decision to revise key interest rate in the monetary policy statement is taken after thoroughly reviewing the money supply situation and the inflation trends.

Saeed Ahmed further said that keeping in view the current inflationary trends, it is being forecast that the next monetary policy may be revised as per aspirations of the business community.

According to a KCCI press release, the acting governor said although government’s borrowing continues to remain high, the State Bank has planned to issue guidelines to commercial banks directing them to enhance lending to agriculture sector, micro-finance sector, small and medium enterprises and exporters.

On growth and challenges being faced by Islamic banking in Pakistan, Saeed Ahmed stated that the central bank wants to lay solid foundations for Islamic banking by focusing on removing inequalities and sharing profits on equitable basis.

Regarding compensation to victims of a recent robbery in a private commercial bank branch, the acting governor said that keeping in view the secrecy of lockers, it is impossible for the affected bank and the State Bank to assess the exact loss suffered by locker holders.

Only insurance companies can compensate these losses under the agreed insurance policy.

He advised the locker holders to prefer those lockers which provide compatible insurance cover as per value of their belongings to avoid such hardships in future.

KCCI President Abdullah Zaki said that formation of Export-Import (Exim) Bank is imperative for successful promotion and development of exports in Pakistan.

All regional countries, including India, Bangladesh and China, have Exim banks while Pakistan is the only country without this facility, he noted, adding that an Exim bank be established to facilitate trade related transactions and L/Cs.