Karachi July 5 2023: State Bank of Pakistan declared Bank Al-Falah Limited as top performing primary dealers for the FY 2022-23.
Habib Bank Limited got second position while MCB Bank Limited declared third best in the race of primary dealers.
Primary Dealers are required to actively participate in the primary market by bidding in the auctions of Government securities as conducted by State Bank of Pakistan from time to time; distribute Government securities to non-PD banks and other retail/institutional clients; play an active role in secondary market development to enhance liquidity and turnover, and to widen the investor base of Government securities by creating awareness among investors; act as a market maker in Government securities by quoting two-way prices in the market; continuously upgrade its infrastructure in terms of both physical equipment and skilled manpower for efficient participation in primary auctions and secondary market trading and provide efficient custody services to its customers (Investors Portfolio of Securities Accounts) for Government securities holding, collection and, payment of profits & maturity proceeds.
State Bank of Pakistan (SBP) upon evaluation of all applicants under the criteria laid down in the Central Bank rules, advised that the following institutions have been selected for primary dealer role for the FY 2023-24 as specified below:
| Sr.# | Name |
| Primary Dealer | |
| 1 | Bank Al-Falah Limited |
| 2 | Habib Bank Limited |
| 3 | MCB Bank Limited |
| 4 | National Bank of Pakistan |
| 5 | Habib Metropolitan Bank Limited |
| 6 | JS Bank Limited |
| 7 | Pak Oman Investment Company Limited |
| 8 | United Bank Limited |
| 9 | The Bank of Punjab |
| 10 | Citi Bank N.A-Pakistan Operations |
| Special Purpose Primary Dealer | |
| 1 | Central Depository Company of Pakistan |
| 2 | National Clearing Company of Pakistan Limited |
