BRIEF OF THE WORKING OF THE
FINANCE DEPARTMENT SBP
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 Business planning and budgeting
function in the Bank and periodic reporting to the management
and to the Board.
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
Currency issuance and its overall management.
Performed By Divisions
The Finance Department is responsible to perform and manage
the functions detailed on pre-page. It controls the working
of the Offices under the provisions of Issue and Banking Department
Manuals. Issue Department deals with management of currency
operations, which includes designing, printing of currency
notes and its circulation. Banking Department relates to the
operation of offices of the Bank, maintenance of Federal and
Provincial Government Accounts, booking of financial transactions
in the books of accounts of Central Directorate and issue
of weekly Statement of Affairs as required under the provisions
of SBP Act, 1956, preparation of Profit and Loss Account and
Balance Sheet on yearly basis, formulation of budget estimates
of revenue and capital expenditure. Management of General
Provident Fund and Provident Fund balances of all employees
of the Bank. Operational control of working of offices by
framing policies and procedures under the provisions of Banking/Issue
Department Manuals, Sale/ purchase of foreign currencies,
maintenance of foreign reserves of the country. To achieve
the above objectives, the Department has been divided into
seven divisions as detailed below:
Accounts Division (FAD)
Financial Accounts Division performs the following
Preparation of Annual Financial Statements Accounting Policies
for the bank.
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.
of GL to provide information for informed decision-making.
Monitoring of contraction and expansion of Currency operations
of Departmental Budgets
Maintenance of Federal & Provincial Government Account on
the basis of receipt and
payments effected at our Field Offices and National Bank of
Preparation of daily balance position and communication thereof
to the Federal Finance
Division and Provincial Finance Departments.
or retirement of MTBs according to the “Daily Balance
Position” of Federal Government.
Securities & Investment Division (FSID)
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,
TCP etc.) and SBP.
Short/Medium term investment and Swap deposits and maintenance
of Foreign Currency
Accounts and revaluation of Foreign Currency Assets & Liabilities.
Special US Dollar Government Bonds. Payment of Profit and principal
Purchase, repurchase, acquisition of SDR, and revaluation of
IMF Loans/ facilities.
to executing agencies/ parties under various Loans/Grants of
International Donor agencies viz. IBRD/ IDA/ ADB etc.
Transactions of Sale/ Purchase of Currencies & Settlement
of ACU Account under ACU Arrangement.
of the Foreign Funded Projects including TABS etc.
Central Bank Deposits; rollover; & remittances of the interest.
SBP’s investment in share capital of the banks/DFIs.
Monthly Abstract, Daily Reserves and Weekly review reporting.
and Procedure Division (SPD)
& Procedures Division (SPD) acts as a liaison between functional
users & ISTD to ensure effective systems development, implementation,
and usage. Major responsibilities are:
of Finance Department, SBP, in various automation projects under
development / implementation (RTGS & Data Ware House).
continuous business process refinement in coordination with
business units of Finance Department SBP and SBP BSC.
in automated solutions development / configuration for SBP in
Payment Controller Division (PCD)
This Division is responsible for:
Making of payments to external suppliers and employees of the
Bank after independent verification of transaction documents
on the basis of bills/ invoices/claims approved by the processing
and verifying the selected financial transactions/cases referred
by the Director Finance to ensure accuracy and compliance to
respective rules and regulations.
Management Division (AMD)
Assets Management division is responsible for:
capitalization, assets transfers and overall responsibility
to manage and maintain
assets physical inventory, keeping track of physical location
the financial information of the assets, cost evaluation and
To ensure the smooth and unhampered running of the Fixed Assets
To record all the expenses regarding repair/ maintenance and
rent taxes for SBP buildings and equipments.
Management Division (CMD)
Currency Management Division is responsible for:
Policy making and management of Currency related matters, which
printing and issuance of Bank notes.
Issuance of Statements of Affairs of Issue Department on Weekly,
Monthly and Quarterly Basis.
of Balance Sheet of Issue Department at every financial year-end.
Support Services Division performs the function as follow:
To deal with various administrative matters arising in the Finance
To provide a healthy and sound environment to officers of Finance
To respond to various queries raised from various internal and
Dissemination of any revision in laws, policy and regulation
matters to relevant quarters