KARACHI: The State Bank of Pakistan (SBP) has announced the appointment of Primary Dealers (PDs) and Special Purpose Primary Dealers (SPDs) for the fiscal year 2025-26.
Applications for the selection of PDs and SPDs were invited on May 7, 2025, from all eligible institutions under the relevant rules. After evaluating the applications in line with the prescribed criteria, the central bank has finalized ten institutions as Primary Dealers for FY26.
The selected institutions include United Bank Limited, Bank Alfalah Limited, National Bank of Pakistan, Habib Bank Limited, Habib Metropolitan Bank Limited, MCB Bank Limited, The Bank of Punjab, Pak Oman Investment Company Limited, JS Bank Limited, and Citi Bank N.A. Pakistan Branch.
Additionally, the Central Depository Company Limited and the National Clearing Company of Pakistan Limited have been appointed as Special Purpose Primary Dealers for the upcoming fiscal year.
According to SBP, the top three performing PDs during FY 2024-25 were United Bank Limited, Bank Alfalah Limited, and National Bank of Pakistan. The performance rankings for all other PDs and SPDs for the previous fiscal year will be communicated individually through separate letters.
The SBP’s primary dealership system plays a vital role in the development of the domestic debt market by ensuring efficient distribution and trading of government securities.
