ADD licence issued to Faysal Bank

RECORDER REPORT

KARACHI: The State Bank of Pakistan (SBP) issued Authorised Derivative Dealer (ADD) Licence to Faysal Bank Limited to conduct financial derivative business.

Now six banks including Citibank, Deutsche Bank, Faysal Bank Limited, Habib Bank Limited, and Standard Chartered Bank (Pakistan) Limited and United Bank Limited are allowed to conduct financial derivative business as Authorised Derivative Dealers (ADDs) in Pakistan, says DMMD Circular No.02 of January 17, 2012.