Finance Department is the custodian of SBP’s books of accounts. The department is entrusted with overall management and supervision of accounting activities of the Bank, financial reporting in accordance with IFRS, currency management, coordination for various audits, preparation of consolidated SBP budget and its ongoing monitoring, financial controls and maintenance/reporting of Government Accounts and balances.
The department also maintains the fixed asset book of SBP, as well as accounts of international financial institutions, executes/makes payments to various suppliers and employees, and advises different departments of the bank on taxation issues. The department works in close liaison with the operational arm of the Bank i.e. SBP BSC in undertaking different functions particularly currency management, government banking, open market operations, central bank deposits and affairs/ transactions relating SBP’s investment and financing to banks.
The bank’s accounting system is fully automated with Globus being used to undertake and record core banking functions Oracle ERP to maintain General Ledger, financial and management reporting, cash management, generation of purchase orders and payments there against, human resources related data etc. The department strives to further streamline existing business processes and generate system based reporting of manual processes wherever possible on ongoing basis.