PAKISTAN: A third consecutive cut in profit rates was announced by the Central Directorate of National Savings on various national savings schemes and certificates, following a 200 basis points (bps) reduction in the central bank’s policy rate. Worst hit in the latest round was the Sarwa Islamic Savings Account – down 375bps to 14.25% – while the Sarwa Islamic Term Account return was reduced by 211 bps to 14.25%.
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