State Bank of Pakistan (SBP) has announced to appoint Primary Dealers for Financial Year 2016-17 (FY17) Applications were invited for the selection of Primary Dealers for the Financial Year (FY) 2016-17 on May 13, 2016 from all Banks, Investment Banks, Development Financial Institutions and listed Brokerage Houses.
Upon the evaluation of each applicant's performance under the criteria laid down in the aforesaid rules, some 12 institutions have been selected as Primary Dealers of Government Securities (PIB & MTB) for FY 2016-17.
According to the State Bank announcement, Habib Bank Limited, National Bank of Pakistan, Allied Bank Limited, Pak Oman Investment Company Limited, JS Bank Limited, MCB Bank Limited, United Bank Limited, Bank Alfalah Limited, NIB Bank Limited, Faysal Bank Limited, Citibank NA (Pakistan Operations) and Standard Chartered Bank (Pakistan) Limited have been appointed Primary Dealers for this fiscal year.
Top three performing PDs during FY 2015-16 were Habib Bank Limited, National Bank of Pakistan and Allied Bank Limited.