Under the legal framework, the Bank has been entrusted with necessary powers and mandate mainly under the State Bank of Pakistan Act, 1956, the Banking Companies Ordinance, 1962, Microfinance Institutions Ordinance 2001 and the Foreign Exchange Regulation Act, 1947 to regulate and supervise the activities of banks, development finance institutions, microfinance banks and foreign exchange companies. These laws are regularly reviewed and updated to address the changing environment.