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State Bank of Pakistan
Seal of the State Bank of Pakistan
Headquarters of the State Bank of Pakistan
Headquarters
I. I. Chundrigar Road, Serai Quarter Karachi-74000, Pakistan
Established
7 January 1948; 76 years ago (1948-01-07)
Ownership
100% state ownership[1]
Governor
Jameel Ahmad
Central bank of
Pakistan
Currency
Pakistani rupee (₨) PKR (ISO 4217)
Reserves
$3.814 billion (March 2023)[2]
Reserve requirements
4.00% [3]
Bank rate
20%[4]
Interest rate target
19–21%
Interest on reserves
19%
Preceded by
Reserve Bank of India
Website
www.sbp.org.pk
The State Bank of Pakistan (SBP) (Urdu: بینک دَولتِ پاکِستان) is the Central Bank of Pakistan. Its Constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until 1 January 1974, when the bank was nationalised and the scope of its functions was considerably enlarged. The State Bank of Pakistan Act 1956,[5] with subsequent amendments, forms the basis of its operations today. The headquarters are located in the financial capital of the country in Karachi. The bank has a fully owned subsidiary with the name SBP Banking Services Corporation (SBP-BSC), the operational arm of the Central Bank with Branch Office in 16 cities across Pakistan, including the capital Islamabad and the four provincial capitals Lahore, Karachi, Peshawar, Quetta. The State Bank of Pakistan has other fully owned subsidiaries as well: National Institute of Banking and Finance, the training arm of the bank providing training to Commercial Banks, the Deposit Protection Corporation, and ownership of the Pakistan Security Printing Corporation.[6]
^Weidner, Jan (2017). The Organisation and Structure of Central Banks. d-nb.info (Dr. rer. pol thesis). Technische Universität Darmstadt. Archived from the original on 2020-05-28. Retrieved 2020-05-09.
^Reporter, The Newspaper's Staff (March 3, 2023). "SBP reserves jump on Chinese inflow". DAWN.COM. Archived from the original on March 3, 2023. Retrieved March 3, 2023.
^Shahid, Ariba (2020-04-11). "Can the monetary system ever say Bella Ciao?". Profit by Pakistan Today. Archived from the original on 2022-12-08. Retrieved 2020-07-19.
^Iqbal, Shahid (March 3, 2023). "Interest rate soars to historic high". DAWN.COM. Archived from the original on March 3, 2023. Retrieved March 3, 2023.
^"Bill to amend State Bank of Pakistan 1956" (PDF). Archived from the original (PDF) on 3 June 2013.
^""Inflation So High, Cannot Earn Enough": Pakistan Battles Economic Crisis". NDTV.com. Archived from the original on 2023-07-28. Retrieved 2023-07-28.
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Global Information
Pakistan
$3.814 billion (March 2023)[2]
4.00% [3]