The State Bank of Pakistan (SBP) (Urdu: بینک دولت پاکستان) 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. The State Bank of Pakistan Act 1956, with subsequent amendments, forms the basis of its operations today. The headquarters are located in the financial capital of Pakistan, Karachi with its second headquarters in the capital, Islamabad.
Read more about State Bank Of Pakistan: History, Regulation of Liquidity, Banking, Governor, Central Board of Directors
Famous quotes containing the words state and/or bank:
“If you have a message you want to send to hell, give it to me; I’ll carry it!”
—Administration in the State of Sout, U.S. public relief program (1935-1943)
“Denouement to denouement, he took a personal pride in the
certain, certain way he lived his own, private life,
but nevertheless, they shut off his gas; nevertheless,
the bank foreclosed; nevertheless, the landlord called;
nevertheless, the radio broke,
And twelve o’clock arrived just once too often,”
—Kenneth Fearing (1902–1961)