The State Bank of Pakistan (SBP) has amended certain rules governing the primary dealer system to streamline and further strengthen this system. The purpose of these amendments is to create a balance between privileges and obligations of Primary Dealers (PDs) to achieve the objective of development of debt market in the country. As per changes, all the banks and DFIs interested in primary dealer (PD) status, would have to ensure that their charges on Investor Portfolio Securities (IPS) accounts are reasonable and in line with SBP’s objective to broader the investor base of government securities. The PDs have been instructed to provide efficient IPS account related services to customers. PDs will be eligible to claim commission at 10 paisa per Rs 100 for all accepted Non Competitive Bids (NCBs) of individuals, employee provident/pension funds and corporate except Asset Management Companies (AMCs), Mutual Funds, Insurance/Mudarba/Leasing companies in Market Treasury Bill (MTB) and Pakistan Investment Bond (PIB) auctions.
SBP changes rules
