The State Bank of Pakistan (SBP) on Saturday announced the appointment of 14 banks and brokerage houses to act as Primary Dealers for the financial year 2005-06. The SBP Exchange & Debt Management Department through EDMD Circular No 9 addressed to banks, non-banking financial institutions, development finance institutions and listed brokerage houses here stated that the selection to act as Primary Dealers for the current financial year has been made under the criteria announced vide EDMD Circular No 8 on July 5, 2003.
The institutions selected include; United Bank Limited; Citibank, N.A.; National Bank of Pakistan; Habib Bank Limited; Pak Oman Investment Co (Pvt) Ltd; Jahangir Siddiqui & Co Ltd; Standard Chartered Bank; ABN Amro Bank N.V.; Muslim Commercial Bank Ltd; Union Bank Limited; American Express Bank Ltd; Bank Al-Falah Limited; Prime Commercial Bank Limited (New PD); and Allied Bank Limited (New PD).