Karachi Inter Bank Offered Rate

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Karachi Inter Bank Offered Rate

Commonly called KIBOR. The average interest rate that prime banks in Pakistan offer for term deposits.
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Currently, the Karachi Inter-Bank Offered Rate is around 11.5pc for one year which does not allow financial institutions to extend loan at low interest for housing.
However, from other gas consumers, the government is planning to recover the entire outstanding cess along with mark-up at 4% above three-month Karachi Inter-bank Offered Rate (Kibor).
Experts also urged that financing through domestic banks had been arranged at Karachi inter-bank offered rate plus 1.7 percent and Chinese lending at London inter-bank offered rate plus 3.3 percent.
It led to an average decline of 200 basis point in six-month Karachi Inter-bank Offered Rate (Kibor).
Currently Gold, Rice, Palm oil, and KIBOR (Karachi Inter-Bank Offered Rate) futures are listed on the exchange.
He added they were at the mercy of bankers, who were charging exorbitant mark-up alongside KIBOR (Karachi Inter-Bank Offered Rate), which not only increased their production cost but made them uncompetitive in domestic market.

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