KARACHI: The State Bank of Pakistan (SBP) has announced the appointment of Primary Dealers and Special Purpose Primary Dealers for Financial Year 2022-23.

Applications were invited for selection of Primary Dealers (PDs), Preliminary Primary Dealers (PPDs) and Special Purpose Primary Dealers (SPDs) for the Financial Year (FY) 2022-23 on May 9, 2022 from all eligible institutions under said rules.

Upon evaluation of all applicants under the criteria laid down in the aforesaid rules, some 12 institutions have been selected for Primary Dealers.

Bank Al-Falah Limited, Habib Bank Limited, National Bank of Pakistan, United Bank Limited, MCB Bank Limited, JS Bank Limited, Standard Chartered Bank (Pakistan) Limited, Pak Oman Investment Company Limited, The Bank of Punjab, Citi Bank N.A-Pakistan Operations, Industrial and Commercial Bank Of China-Pakistan Operations and Habib Metropolitan Bank Limited have been appointed as PDs for fiscal year 2022-23.

In addition, National Clearing Company of Pakistan Limited and Central Depository Company of Pakistan have been appointed as Special Purpose Primary Dealers for this fiscal year.

According to SBP, three performing PDs during FY 2021-22 are Bank Al-Falah Limited, Habib Bank Limited and National Bank of Pakistan.

Copyright Business Recorder, 2022