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KARACHI: The State Bank of Pakistan (SBP) has announced to appoint Primary Dealers and Special Purpose Primary Dealers for Financial Year 2023-24.

Recently, SBP invited applications for selection of Primary Dealers (PDs) and Special Purpose Primary Dealers (SPDs) and Preliminary Primary Dealers (PPDs) for the Financial Year (FY) 2023-24 from all eligible institutions under rules governing Primary Dealer (PD) System.

Upon evaluation of all applicants under the criteria laid down in the rules, 10 institutions have been selected for roles as PDs and two selected for SPDs.

Bank Al-Falah Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan, Habib Metropolitan Bank Limited, JS Bank Limited, Pak Oman Investment Company Limited, United Bank Limited, The Bank of Punjab and Citi Bank N.A-Pakistan Operations has been appointed as PDs.

While, Central Depository Company of Pakistan and National Clearing Company of Pakistan Limited have been selected as Special Purpose Primary Dealer.

Copyright Business Recorder, 2023

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