The State Bank of Pakistan (SBP) has granted licence to Habib Bank (HBL) to conduct derivatives business as an 'Authorised Derivatives Dealer' (ADD) in Pakistan. The banks, which now have the licence to conduct derivatives business as Authorised Derivatives Dealers (ADDs) in Pakistan are Citibank, Deutsche Bank, Habib Bank Limited, Standard Chartered Bank (Pakistan) Limited and United Bank Limited, according to DMMD Circular No 08 of June 17, 2011.
The list of Authorised Derivatives Dealers (ADDs) may be duly updated as and when required, the circular added.