SBP Detail Information
The State Bank of Pakistan is the central bank of Pakistan. It was established in 1948, with its headquarters located in the financial capital of Pakistan, Karachi. The State Bank of Pakistan is entrusted with the responsibility of implementing monetary and credit policies in line with government targets for growth and inflation, following the recommendations of the Monetary and Fiscal Policies Coordination Board, without attempting to influence macroeconomic policy objectives. The State Bank of Pakistan (SBP) operates in accordance with the State Bank of Pakistan Act, 1956. This legislation grants the SBP the role of functioning as the country's central bank. Under the SBP Act, the bank is tasked with overseeing and managing Pakistan's monetary and credit system, with a primary goal of promoting national interests by ensuring monetary stability and maximizing the utilization of the country's productive resources.
Current Governor State Bank of Pakistan
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Governor State Bank of Pakistan |
State Bank of Pakistan Functions
The State Bank of Pakistan carries out a dual role, encompassing both traditional and developmental functions to attain macroeconomic objectives. The conventional functions, akin to those performed by central banks globally, can be categorized into two main groups. First, there are primary functions such as issuing currency, overseeing the financial system, acting as the central bank for commercial banks, serving as the lender of last resort, managing government finances, and steering monetary policy. Second, there are secondary functions, including agency roles like handling public debt and foreign exchange management, in addition to advisory responsibilities to the government on policy matters and fostering close ties with international financial institutions.