The State Bank of Pakistan (SBP) has appointed primary dealers for the financial year 2017-18. Applications were invited for selection of Primary Dealers for the Financial Year (FY) 2017-18 vide DMMD Circular No. 06 dated May 18, 2017 from all Banks, Investment Banks, Development Financial Institutions and Listed Brokerage Houses.
The State Bank of Pakistan had received 13 applications for appointment of Primary Dealers of Government Securities (Pakistan Investment Bond and Market Treasury Bills). Upon evaluation of each applicant's performance under the criteria laid down in the aforesaid rules, some eleven institutions have been selected as Primary Dealers of Government Securities (PIB & MTB) for FY 2017-18.
According to SBP, Habib Bank Limited, National Bank of Pakistan, United Bank Limited, Bank Alfalah Limited, Allied Bank Limited, Pak Oman Investment Company Limited, JS Bank Limited, MCB Bank Limited, Faysal Bank Limited, Citibank NA (Pakistan Operations) and Standard Chartered Bank (Pakistan) Limited have been appointed as primary dealers. Top three performing PDs during FY 2016-17 were Habib Bank Limited, National Bank of Pakistan and United Bank Limited.