SBP allows The Bank of Tokyo-Mitsubishi to work as NMI

KARACHI: The State Bank of Pakistan (SBP) has allowed The Bank of Tokyo-Mitsubishi UFJ, Ltd. to conduct derivatives business (foreign exchange options only) as Non-Market Maker Financial Institution (NMI).

According to DMMD Circular No.05 of March 21, 2012, issue here Wednesday, six banks including Citibank, Deutsche Bank, Faysal Bank Limited, Habib Bank Limited, Standard Chartered Bank (Pakistan) Limited and United Bank Limited were already allowed to conduct financial derivatives business as Authorized Derivatives Dealers (ADDs) in Pakistan.