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SBP Allows DFIs to Participate in Open Market Operations
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SBP allows participation of DFIs in open market operations to facilitate liquidity management
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SBP appoints 13 banks as primary dealer of government securities for FY 21-22
July 3, 2021
The State Bank of Pakistan appointed 13 banks as Primary Dealers (PDs) of government securities and two companies as Special Purpose Primary Dealers (SPDs) for Financial Year 2021-22.
According to a circular issued by the Domestic Market and Monetary Management Department of SBP, after evaluation of received applications under the laid down criteria the central bank has selected 13 applicants for appointment as primary dealer while 2 other institutions were selected for the role of SPDs of government securities-PIB and MTB.
Primary Dealers appointed for FY 2021-22 included Habib Bank Limited, Allied Bank Limited, Bank Al-Falah Limited, JS Bank Limited, National Bank of Pakistan, MCB Bank Limited, United Bank Limited, Pak Oman Investment Company Limited, Faysal Bank limited, Standard Chartered Bank (Pakistan) Limited, The Bank of Punjab, CitiBank N.A-Pakistan Operations and Industrial and Co
SBP Invites Primary Dealer Applicants for Investment Bonds and Market Treasury Bills
The State Bank of Pakistan (SBP) has invited applications from eligible institutions for appointment as Primary Dealers, Preliminary Primary Dealers, and Special Purpose Primary Dealers of Government Securities.
The procedure is to select PDs for Pakistan Investment Bonds and Market Treasury Bills, for the fiscal year 2021-22, under the terms of rule C-1 of Rules Governing Primary Dealer System.
A circular issued by the SBP detailed the selection criteria, process thereof, privileges, obligations, and performance criteria for each category of the dealership, along with main PD rules.
According to the central bank, a business plan, approved by the Asset-Liability Committees (ALCOs), is also required in the case of banks and DFIs, and a plan approved by the Board of Directors (BoD), in case of all other eligible institutions.