All PDs categories: SBP invites applications from FIs

KARACHI: The State Bank of Pakistan (SBP) has invited applications from eligible financial institutions for the selection of Primary Dealers, Preliminary Primary Dealers and Special Purpose Primary Dealers of Government Securities for Fiscal Year 2026-27.

According to the SBP, the selection will be made in line with Rule C-1 of the Rules Governing the Primary Dealer System, issued through DMMD Circular No. 07 dated April 12, 2021.

Interested institutions have been asked to submit applications signed by their Chief Executive Officer (CEO), Chief Operating Officer (COO) or Treasurer, along with the required documentation.

Applicants must clearly indicate the category of dealership being applied for, along with a business plan approved by the Asset and Liability Committee (ALCO) in the case of banks and DFIs, and by the Board of Directors in case of other eligible institutions. The business plan must follow the guidelines provided by the SBP earlier.

Existing Primary Dealers and Special Purpose Primary Dealers are also required to submit an update on the implementation of their previously submitted business plans, including development initiatives undertaken during FY2025-26.

Applicants other than banks and DFIs shall also share the detail of the processes, mechanism and systems in place for the timely and seamless processing, clearing and settlement of transactions related to the Dealers activity including primary auctions.

Other required documents include the latest audited annual financial statements, schedule of business charges related to dealership activities, details of Investor Portfolio of Securities (IPS) accounts as of May 31, 2026, and data on non-competitive bids for the period January 1, 2026 to May 31, 2026.

Copyright Business Recorder, 2026