Staff Reporter
Karachi
State Bank of Pakistan (SBP) has appointed 12 financial institutions as primary dealers for government securities for the fiscal year 2020/2021.
The central bank said that applications were invited for selection of primary dealers for the Financial Year (FY) 2020-2021 vide DMMD Circular Letter No. 01 dated May 15, 2020 from all Banks, Development Finance Institutions, Investment Banks and Listed Brokerage Houses.
The central bank received twelve applications for appointment of Primary Dealers of Government Securities (PIB & MTB).
Upon evaluation of each applicant’s performance under the criteria laid down in the aforesaid rules, the following institutions have been selected as Primary Dealers of Government Securities (PIBs & MTBs) for FY 2020-2021.
Habib Bank Limited, National Bank of Pakistan, Bank Alfalah Limited, JS bank, Allied Bank, Pak Oman Investment bank, MCB, United Bank, Faysal Bank, Standard Chartered Bank, Citi Bank and Bank of Punjab.
Top three performing PDs during FY 2019-2020 are as under: Habib Bank Limited, National Bank of Pakistan. Bank Al-Falah Limited.
