Finance Department - State Bank of Pakistan
Finance Department SBP    


   Functions of the Department:-

  • Maintenance of books of accounts and preparation of financial statements of the Bank in accordance with the IAS, as adopted by the Bank.
  • Coordination and facilitation for budgeting function in the Bank and periodic reporting to the management and to the Board of Directors.
  • Management of Federal, Provincial, and District Governments Accounts. Policy & operations related coordination with MOF, CBR, AGPR, and other Govt. agencies..
  • Maintenance of foreign currency accounts/ investments and execution of International payments and receipts.
  • Maintenance of accounts relating to International Organizations and Donor Agencies like IMF, IBRD, ADB, Asian Clearing Union (ACU) etc.
  • Currency issuance and its overall management.

    Divisions Of the Department with their funcation:

    1-Financial Control Division (FCD)

  • Coordination and facilitation in preparation, consolidation of departmental budgets and periodic variances reporting to the management and to the Board of Directors.
  • Processing the payments to external suppliers, and service providers and employees of the Bank.
  • Management of Bank’s Fixed Assets Accounting function including capitalization, transfers, physical inventory and track of physical location.
  • Maintenance of financial information relating to fixed assets, cost evaluation, and their retirements/disposal.

2-Financial Accounts Division (FAD)

  • Preparation of Annual Financial Statements.
  • • Preparation of Weekly Statement of Affairs for issuance in the Government Gazette as
    Provided in the State Bank of Pakistan Act, 1956.
  • Quarterly profit updates to the Central Board of Directors.
  • Maintenance of GL to provide information for informed decision-making.
  • Monitoring of contraction and expansion of Currency operations.
  • Preparation of Monthly IMF Reserve Template.

3-Financial Policy and Systems Division (FPSD)

  • Maintenance and recording of Cash Reserve Requirement, SCR Requirements, MCR, foreign debt payments, FE-2 deposits etc.
  • FCY payments of Govt of Pakistan (Defense, Privatization Commission etc.) and SBP.
  • Special US Dollar Government Bonds. Payment of Profit and principal payment on
  • Central Bank Deposits; rollover; & remittances of the interest.
  • SBP’s investment in share capital of the banks/DFIs.
  • SBP Monthly Abstract of issue and banking department FCY accounts.
  • Weekly review of SBP nostro accounts reporting.
  • Forward Cover Contracts Transactions of rollover/ cancellations/ its Exchange Gain& LOSS / exchange Risk cover fee on daily /revaluation weekly basis.
  • Swap and Cash FCY Notes Transactions of payment/ receipts/ imports/ shipments / counterfeit notes
  • Unclaimed deposits Transaction of receipts / refunded
  • Booking of Contraction & expansion of currency entries in Oracle.
  • Booking of Shifting/ Processing /Renewal /Opening of Bank & Branches Fee
  • SBP’s Misc . FCY Payments.
  • Issuance of Indian Securities & Booking of its Revaluation transactions on Yearly basis.
  • Hajj Transactions of receipts & Payments.
  • Booking of entries related PIBs/ MTBs on fortnightly/ quarterly/ Yearly.
  • Preparation of nomination and performance review of Banks/DFIs in which SBP investment has made.
  • Receipt and recording of dividend income on SBP investments.
  • Systems & Procedures Unit (SPU) acts as a liaison between functional users & ISTD to ensure effective systems development, implementation, and usage. Major responsibilities are:
  • Representation of Finance Department, SBP, in various automation projects under development / implementation (Globus, Oracle ERP and Data Ware House).
  • Recommend continuous business process refinement in coordination with business units of Finance Department SBP and SBP BSC.
  • Participate in automated solutions development / configuration for SBP financial areas.
  • Regular Audits of State Bank of Pakistan (SBP), Banking Services Corporation (BSC), Pakistan Remittance Initiative (PRI), Telegraphic Transfer (T.T.) Charges etc. are undertaken by Auditor General of Pakistan (Director General Commercial Audit and Evaluation of Pakistan, Karachi) every year. Government and Internal Audit Coordination Unit (GIACU) coordinates with Government / Commercial Audit to facilitate the Audit Team. Unit also coordinates with replies to DAC/PAC meetings regarding Audit Paras. Further, it also coordinates Internal Audit of Finance Department. It deals with the policy matters related to Zahid Hussain memorial scholarship, management of Retired Employee Fund (MREF), Imprest Account, and general public complains/suggestions related to Central Directorate of National Saving.

    4-Govt Accounts Division
  • To ensure effective, efficient and smooth transactions in Government Accounts by devising sustained policies, and reporting to Government Agencies.
  • To coordinate with SBP BSC to carry out Banking Businesses of Federal and Provincial Governments.
  • To provide the support in Federal & Provincial Government’ projects.
  • To monitor receipts/payments in Government Accounts maintained with NBP.
  • To coordinate in any other function for which SBP is obliged to act as banker to the Government.
  • To liaison with IDAs and Ministries of Government of Pakistan (MoF, EAD, etc) with reference to foreign funds under various loans/grants from IDAs and arrange transfer of PKR counterpart funds to Government/project authorities.
  • To deal with IMF Transactions of different types such as repurchase/purchase (receipt/payments) of SDRs under Fund Facilities/Credit, Quarterly Charges on i) use of Fund Credit ii) net cumulative allocation iii) annual Assessment Charges, Interest earned on SDR Holdings and Monthly Revaluation of IMF’s PKR balances.
  • To settle ACU Account on bi-monthly basis under ACU Arrangement and reconcile ACU accounts.
  • To manage the financial and accounting matters relating to Foreign Funded Projects.
  • To handling the matter of Demand Promissory Notes issued to various international organizations and held by SBP as depository on behalf of GoP.
  • To deal with various administrative matters of the Finance Department.
  • To provide a healthy and sound environment to officers of Finance Department.

5-Issue Department Division.

  • Policy making in and management of Currency related matter, which include designing, printing and issuance of banknotes.
  • Preparation of weekly statement of affairs of Issue Department for issuance in the Government Gazette as provided in the SBP Act 1956.
  • Payment of banknote printing charges to Pakistan Security Printing Corporations.
  • Preparation of Balance Sheet of Issue Department at every financial year end.
  • Preparation of Annual Indent of banknotes and coins.
  • Monitoring and coordination to curb counterfeiting of banknotes.



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State Bank of Pakistan
I.I. Chundrigar Road, Karachi, Pakistan.
Phone: 111-727-111, Fax: (+92-21) 9212433 - 9212436