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Financial Stability |
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Structure of Financial System: |
Financial sector of Pakistan constitute banks, Development Finance Institutions (DFIs), Microfinance Banks (MFBs), Non-banking Finance Companies (NBFCs), insurance companies, Modarabas and other financial intermediaries. Latest asset structure of the financial sector is given below.
Institution |
Regulatory Body |
Licensed under |
Banks |
SBP |
Section 27 of BCO, 1962 |
of which: Islamic Banking Institutions |
SBP |
Section 27 of BCO, 1962 |
Microfinance Banks |
SBP |
Microfinance Institutions Ordinance 2001 |
Exchange Companies |
SBP |
Foreign Exchange Regulation Act, 1947 |
DFIs |
SBP |
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Nonbank financial institutions: |
SECP |
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Investment companies |
SECP |
Companies Ordinance, 1984 |
Asset Management Companies |
SECP |
Companies Ordinance, 1984 |
Mutual Funds and Plans |
SECP |
Companies Ordinance, 1984 |
Pension Funds |
SECP |
Companies Ordinance, 1984 |
Discretionary & Non-Discretionary Portfolios |
SECP |
Companies Ordinance, 1984 |
Real Estate Investment Trust |
SECP |
Companies Ordinance, 1984 |
Leasing Companies |
SECP |
Companies Ordinance, 1984 |
Modarabas |
SECP |
Companies Ordinance, 1984 |
Insurance companies |
SECP |
Companies Ordinance, 1984 |
Financial sector of Pakistan predominantly comprises of banks, as they hold the largest share of financial assets as a percentage of GDP.
State Bank of Pakistan (SBP) regulates Banks, DFIs, Exchange Companies and MFBs, while Securities and Exchange Commission of Pakistan (SECP) regulate NBFCs, Insurance Companies and Modaraba Companies.
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