A Review On State Bank Of Pakistan (SBP)

[billyboy00007]

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A Review On State Bank Of Pakistan (SBP)

The State Bank of Pakistan is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalized, the scope of its functions was considerably enlarged. Founded in July 1, 1948 and Headquarters of SBP is in Karachi.


Services:

State Bank's Shariah Board approves essentials and model agreements for Islamic modes of financing
Guidelines on commercial paper
Guidelines on securitization
SBP Scheme for agricultural financing
Procedure for submitting claims with SBP in respect of unclaimed deposits surrendered by banks/DFIs
Banking sector supervision in Pakistan
Microfinance
Small and medium enterprises (SMEs)
Minimum capital requirements for Banks
Remittance facilities in Pakistan
Opening of foreign currency accounts with banks in Pakistan under new scheme
Handbook of corporate governance
Guidelines on risk management

[alkatiri]

Financial institutions realize that it is not only credit that can be an effort to achieve an even national development, but banks are also finally being functioned to provide various services that make it easier for people to conduct financial transactions. Initially, banks provided transfer services to facilitate sending money from one area to another to overseas. However, over time, bank services are now increasingly diverse. Bank services can now be enjoyed by people of various classes. With these services, it makes it easier for people to make various payment and purchase transactions. For example, now banks provide payment services for electricity, telephone, and purchasing transportation tickets. With this service, payment flow becomes clearer and safer.

[Gill1]

National Bank of Pakistan (NBP) is a Pakistani government-owned multinational commercial bank which is a subsidiary of State Bank of Pakistan. National Bank of Pakistan has developed a wide range of consumer products, to enhance business and cater to the different segments of society and meet its social responsibilities. The bank provides both commercial and public sector banking services. It is a lead player in the debt-equity market, corporate investment banking, retail and consumer banking, agricultural financing, treasury services. It has implemented special credit schemes like small finance for agriculture, business and industries, administrator to Qarz-e-Hasna loans to students, self-employment scheme for unemployed persons, public transport scheme.