State bank of Pakistan
SUBMITTED TO:
SIR MAZHAR ABBAS
SUBMITTED BY
AYESHA JAVED
ANAM ASHFAQ
SUMAIRA KALSOOM
AYESHA BATOOL
History of State Bank of Pakistan
Reserve bank of India (FRBI) was the central bank of both
Pakistan and India. On 30th December, 1948 British Govt.
commission distributed the reserve bank of India’s reserve
between Pakistan and India with the ratio of 30:70. The losses
incurred in the transition to independence were taken from
Pakistan’s shares a total of 230 million. In May, 1948 M. Ali
Jinnah took step to establish SBP.The idea were implemented
in June, 1948. SBP commenced operation on July 1, 1948.
Introduction
The State Bank of Pakistan is the central bank of the country. Usually the starting
point for a central bank is a banking system that is already in place - the banking
system necessitates the presence of a central bank. But the State Bank of Pakistan
(SBP) is unique in the sense that it started its function in a newly born country,
where it also had to shoulder responsibilities of developing and rehabilitating a
banking system and the economy, in addition to the traditional central banking
functions. Performance of the Bank since its inception in 1948, as reviewed in
subsequent pages, shows that it has faced all the challenges with a great zeal and
commitment. The founders of the Bank set a multi-dimensional target before it
that included not only regulation of the monetary and credit system but also the
growth of this system. The vision of its founders was a stable monetary system in
Pakistan with fuller utilization of the country’s productive resources (SBP Act,
1956).
Central Board of Directors
Chairman: (Governor SBP Ashraf Mehmood Wathra)
Secretory finance: (Dr. Waqar Masood Khan)
Mirza Qamar Beg
Khawaja Iqbal Hassan
Mr. Iskander Mohammed Khan
Mr. shahid Ahmed Khan
Mr. Mehmood Mandviwalla
Mr. M. Nawaz Tiwana
Mr. Muhammad Hidayatullah
Mr. zafar Masud
Objective
The SBP objectives are maintaining price stability with growth, broadening
access to financial sector, ensuring soundness of financial sector, exchange
rate reserve management and strengthening payment systems.
Mission
To provide reliable banking services to Government, financial institutions,
public and to act as an operational arm of State Bank of Pakistan.
Vision
Our vision is to develop the SBP into strong dynamic institution, equipped with
an efficient and professional human resource base, having the requisite
technology and fully capable of providing capable services to stakeholders,
while complementing the state bank of Pakistan in achieving its objectives.
FUNCTIONS OF STATE BANK OF PAKISTAN
Primary functions
Sole authority to issue notes
Conduct of monetary and credit policies
• Instruments
• Transition to indirect instruments
Regulation and supervision of financial system
• Offsite and onsite monitoring
Bankers bank
Lender of the last resort
Banker to government
Secondary functions
Public debt management
Management of foreign exchange
Advisor to government
• Monitory and fiscal policies coordination boards (MFPCB)
• Report on the state of the economy
Relationship with international financial institutions
Non- traditional functions
Development of the banking system
• Commercial banking
• Microfinance
• Promotion of the Islamic banking
Training facilities to bankers
• Institute of bankers of Pakistan
• Training department/division
• Scholarship for PHD
Development of specialized financial institutions
Credit to priority sectors
• Credit for agriculture
• Export finance scheme
Conclusion
Every authority concerned with co-operative sector will have to play its parts in
ensuring that the aspiarations of urban and rural co-operative sectors are
nutured.
References
http://www.sbp.org.pk
http://www.google.com.pk
http://www.scribd.com
http://www.mag92.com
http://www.wikipedia.com
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