State Bank of Pakistan
Type	Central bank
Founded	Reserve Bank of India
Headquarters	Principal Office Karachi Pakistan
Key people	Shamshad Akhtar
Industry	Banking Capital Markets
Products	Loans, Credit Cards, Savings, Consumer Banking etc.
Revenue	PKR
Website	www.sbp.org.pk

The State Bank of Pakistan (SBP) is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalised, the scope of its functions was considerably enlarged. The State Bank of Pakistan Act 1956, with subsequent amendments, forms the basis of its operations today. The headquarters are located in the financial capital of Pakistan, Karachi with its second headquarters in the capital, Islamabad. Image File history File links State_bank_of_Pakistan_logo. ... The RBI headquarters in Mumbai The RBI Regional Office in Mumbai The RBI heaquarters in Delhi. ... Karachi (Urdu: كراچى, Sindhi: ڪراچي) is the capital of the province of Sindh, and the most populated city in Pakistan. ... Dr Shamshad Akhtar was appointed by the President of Pakistan as the governor of the State Bank of Pakistan for three years in December 2005. ... For other uses, see Bank (disambiguation). ... The capital market is the market for long-term loans and equity capital. ... Credit cards A credit card is a system of payment named after the small plastic card issued to users of the system. ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... Green up arrow for a positive change in revenue from last fiscal year. ... The acronym PKR can refer to:- the currency code for the Pakistani Rupee This page concerning a three-letter acronym or abbreviation is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... A website (or Web site) is a collection of Web pages, images, videos and other digital assets and hosted on a particular domain or subdomain on the World Wide Web. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 1974 (MCMLXXIV) was a common year starting on Tuesday. ... Karachi (Urdu: كراچى, Sindhi: ڪراچي) is the capital of the province of Sindh, and the most populated city in Pakistan. ... Islamabad (Urdu: اسلام آباد (Meaning Abode of Islam)), is the capital city of Pakistan, and is located in the Potohar Plateau in the northwest of the country. ...

History

Before independence on 14 August 1947, the Reserve Bank of India (central bank of India) was the central bank for what is now Pakistan. On 30 December 1948 the British Government's commission distributed the Bank of India's reserves between Pakistan and India - 30 percent (750 M gold) for Pakistan and 70 percent for India. August 14 is the 226th day of the year in the Gregorian calendar (227th in leap years), with 139 days remaining. ... 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... The RBI headquarters in Mumbai The RBI Regional Office in Mumbai The RBI heaquarters in Delhi. ... December 30 is the 364th day of the year (365th in leap years) in the Gregorian Calendar, with 1 day remaining. ... 1948 (MCMXLVIII) was a leap year starting on Thursday (the link is to a full 1948 calendar). ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ...

The losses incurred in the transition to independence were taken from Pakistan's share (a total of 230 million). In May, 1948 Muhammad Ali Jinnah (Founder of Pakistan) took steps to establish the State Bank of Pakistan immediately. These were implemented in June 1948, and the State Bank of Pakistan commenced operation on July 1, 1948. Muhammad Ali Jinnah (Urdu: محمد على جناح)  (December 25, 1876 – September 11, 1948) was an Indian Muslim politician and leader of the All India Muslim League who founded Pakistan and served as its first Governor-General. ... July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian calendar, with 183 days remaining. ... 1948 (MCMXLVIII) was a leap year starting on Thursday (the link is to a full 1948 calendar). ...

Functions

Under the State Bank of Pakistan Order 1948, the state bank of Pakistan was charged with the duty to "regulate the issue of bank notes and keeping of reserves with a view to securing monetary stability in Pakistan and generally to operate the currency and credit system of the country to its advantage". The Pakistani rupee (PKR) is the currency of Pakistan. ...

A large section of the state bank's duties were widened when the State Bank of Pakistan Act 1956 was introduced. It required the state bank to "regulate the monetary and credit system of Pakistan and to foster its growth in the best national interest with a view to securing monetary stability and fuller utilisation of the country’s productive resources". In February 1994, the State Bank was given full autonomy, during the financial sector reforms. Look up autonomy, autonomous in Wiktionary, the free dictionary. ...

On January 21, 1997, this autonomy was further strengthened when the government issued three Amendment Ordinances (which were approved by the Parliament in May 1997). Those included were the State Bank of Pakistan Act, 1956, Banking Companies Ordinance, 1962 and Banks Nationalisation Act, 1974. These changes gave full and exclusive authority to the State Bank to regulate the banking sector, to conduct an independent monetary policy and to set limit on government borrowings from the State Bank of Pakistan. The amendments to the Banks Nationalisation Act brought the end of the Pakistan Banking Council (an institution established to look after the affairs of NCBs) and allowed the jobs of the council to be appointed to the Chief Executives, Boards of the Nationalised Commercial Banks (NCBs) and Development Finance Institutions (DFIs). The State Bank having a role in their appointment and removal. The amendments also increased the autonomy and accountability of the chief executives, the Boards of Directors of banks and DFIs. January 21 is the 21st day of the year in the Gregorian calendar. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... The Parliament of Pakistan is known as the Majlis-e-Shoora (Council of Advisors). ... Monetary policy is the process by which the government, central bank, or monetary authority manages the money supply to achieve specific goals—such as constraining inflation or deflation, maintaining an exchange rate, achieving full employment or economic growth. ...

The State Bank of Pakistan also performs both the traditional and developmental functions to achieve macroeconomic goals. The traditional functions, may be classified into two groups: Macroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ...

1. The primary functions including issue of notes, regulation and supervision of the financial system, bankers’ bank, lender of the last resort, banker to Government, and conduct of monetary policy.
2. The secondary functions including the agency functions like management of public debt, management of foreign exchange, etc., and other functions like advising the government on policy matters and maintaining close relationships with international financial institutions.

The non-traditional or promotional functions, performed by the State Bank include development of financial framework, institutionalisation of savings and investment, provision of training facilities to bankers, and provision of credit to priority sectors. The State Bank also has been playing an active part in the process of islamisation of the banking system.

Regulation of Liquity

The State Bank of Pakistan has also been entrusted with the responsibility to carry out monetary and credit policy in accordance with Government targets for growth and inflation with the recommendations of the Monetary and Fiscal Policies Co-ordination Board without trying to effect the macroeconomic policy objectives. Moneys is an agreement within a community, to use something as a medium of exchange, which acts as an intermediary market good. ... Fiscal municipality in Huesca, Spain The term fiscal refers to government debt, expenditures and revenues, or to finance (particularly financial revenue) in general. ... Macroeconomics is a branch of economics that deals with the performance, structure, and behavior of the economy as a whole (Snowden and Vane 2002). ...

The state bank also regulates the volume and the direction of flow of credit to different uses and sectors, the state bank makes use of both direct and indirect instruments of monetary management. During the 1980s, Pakistan embarked upon a program of financial sector reforms, which lead to a number of fundamental changes. Due to these changed the conduct of monetary management which brought about changes to the administrative controls and quantitative restrictions to market based monetary management. A reserve money management programme has been developed, for intermediate target of M2, that would be achieved by observing the desired path of reserve money - the operating target.

Banking

The Stat Bank of Pakistan looks into a lot of different ranges of banking to deal with the changes in economic climate and different purchasing and buying powers. Here are some of the banking areas that the state bank looks into;

• State Bank’s Shariah Board Approves Essentials and Model Agreements for Islamic Modes of Financing
• Procudure For Submitting Claims With Sbp In Respect of Unclaimed Deposits Surrendered By Banks/Dfis.
• Banking Sector Supervision in Pakistan
• Micro Finance
• Small Medium Enterprises (SMEs)
• Minimum Capital Requirements for Banks
• Remittance Facilities in Pakistan
• Opening of Foreign Currency Accounts with Banks in Pakistan under new scheme.
• Handbok of Corporate Governance
• Guidelines on Risk Management
• Guidelines on Commercial Paper
• Guidelines on Securitization
• SBP.Scheme for Agricultural Financing

Bank Assets and Liabilities

This is a chart of trend of major assets and liabilities reported by scheduled commercial banks to the State Bank of Pakistan with figures in millions of Pakistani Rupees.[1][2][3]

Departments

• Naveed Pagal hai
• Agricultural Credit
• Audit
• Banking Inspection
• Banking Policy
• Banking Supervision
• Corporate Services
• Economic Policy
• Exchange and Debt Management
• Exchange Policy
• Human Resource
• Information System
• Islamic Banking
• Legal Services
• Payment System
• Research
• Statistics
• Real Time Gross Settlement System (RTGS System)
• Small and Medium Enterprises

Governor

The principal officer of the SBP is the Governor. During December 2005, the President of Pakistan appointed Dr. Shamshad Aktar as the new Governor of the State Bank for a three year term, to replace Dr. Ishrat Hussain, who retired on December 1, 2005. Here is a list of the Governors of the State Bank of Pakistan. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... The President of Pakistan (Urdū: صدر مملکت Sadr-e-Mamlikat) is Head of State of Pakistan. ... Dr Shamshad Akhtar was appointed by the President of Pakistan as the governor of the State Bank of Pakistan for three years in December 2005. ... Ishrat Husain was the 13th Governor of State Bank of Pakistan, Pakistans Central bank. ... December 1 is the 335th (in leap years the 336th) day of the year in the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...

Central Board of Directors

1. Dr. Shamshad Akhtar Chairperson
2. The Secretary Finance Member
3. Mr. Khair Mohamed Junejo Member
4. Mr. Ehsen Rashid
5. Mr. M. Yaqoob Vardag Member
6. Mr. Mohsin Aziz Member
7. Dr. Wasim Azhar Member
8. Mr. Kamran Y. Mirza Member
9. Mr. Alman A. Aslam Member
10. Mr. Riaz Ahmed Secretary

Dr Shamshad Akhtar was appointed by the President of Pakistan as the governor of the State Bank of Pakistan for three years in December 2005. ...

Trivia

Five hundred rupee note featuring the State Bank's premises in Islamabad

• An image of the Islamabad branch appears on the five-hundred-rupee banknote.

500 Pakistani Rupees (back) Taken from Ron Wises World Paper Money Homepage. ... 500 Pakistani Rupees (back) Taken from Ron Wises World Paper Money Homepage. ... The Pakistani rupee (PKR) is the currency of Pakistan. ... A £20 Bank of England banknote. ...

See also

• Governor of State Bank of Pakistan
• National Bank of Pakistan
• Pakistani rupee

Here is a list of the Governors of the State Bank of Pakistan. ... The National Bank of Pakistan has its headquarters in Karachi, Pakistan. ... The Pakistani rupee (PKR) is the currency of Pakistan. ...

External links

• State Bank of Pakistan
• Akhtar Named Pakistan's First Female Central Banker (Bloomberg)
• Pakistan rated 3rd in banking profitability 2006