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KARACHI: The State Bank of Pakistan (SBP) has withdrawn the general provision requirements for loans extended by Microfinance Banks (MFBs) against gold or other cash collateral. In case of all other loans, SBP has reduced the general provision requirement for MFBs by 50 basis points.

WASHINGTON: Pakistan will have no trouble repaying a loan from the International Monetary Fund, its finance minister said on Monday, even though the country's economy has been hurt by heavy rains and floods.

DJIBOUTI: The Islamic Development Bank loaned Djibouti $8.5 million to help build a residential and commercial center in Djibouti City, the capital.

KUALALUMPUR: Malaysia, Islamic personal loans hovered as customers' utilized telephone for their financing. Al Hadj Azahari Pawan Teh- Chief Operating Officer IDOTTV said, "Loans backed by airtime business currently expanded to 1 million ringgit but this business is expected to expand to 100 million ringgit per day in upcoming year."

KARACHI: Pakistan does not have the intent to opt for another program of IMF loan as economy could bear the pressure alone to finance its budget deficit, said finance minister Dr. Hafeez Shaikh on Friday.

LONDON: Russian republic Tatarstan's ambition to develop a Sharia-compliant market received a boost this week when the Kazan-based AK Bars Bank became the first Tatar credit to secure a murabaha loan.

ATHENS/BERLIN: The European Union postponed a summit by a week on Monday to allow time for a broader solution to Greece's debt crisis, after Athens said it had concluded talks with international lenders on an aid payment needed to avert default.