Primary Dealers System
Over the years, the marketable Government securities market has grown in terms of size, number and diversity of participants and infrastructure. Accordingly State Bank of Pakistan (SBP) has made rules governing the PD system in Pakistan. SBP select PDs every fiscal after rigorous process encompassing multiple qualitative and market data based criteria.
The details about conventional PDs system are appended below, while all Islamic Banks and Islamic Arm of conventional branches are currently working as Islamic PDs for their clients.
Conventional Primary Dealership
a. Categories of PDs
- Primary Dealers (PDs)
- Preliminary Primary Dealers (PPDs)
- Special Purpose Primary Dealers (SPDs)
b. List of PDs and SPPDs for FY 2023-24 are as below;
| Name of FI | Status |
|---|---|
| Bank Al-Falah Limited | PD |
| Habib Bank Limited | PD |
| National Bank of Pakistan | PD |
| United Bank Limited | PD |
| MCB Bank Limited | PD |
| JS Bank Limited | PD |
| Pak Oman Investment Company Limited | PD |
| The Bank of Punjab | PD |
| Citi Bank N.A-Pakistan Operations | PD |
| Habib Metropolitan Bank Limited | PD |
| National Clearing Company of Pakistan Limited | SPD |
| Central Depository Company of Pakistan | SPD |
Details about selection process and performance criteria of primary dealers can be accessed at DMMD Circular No. 12 dated July 04, 2023