The Presidents/ Chief Executive Officers
All Banks/Digital Banks/MFBs/EMIs/PSOs & PSPs/
Private Credit Bureaus/ Exchange Companies

Dear Sir/ Madam,

Handbook for Licensing/ Authorization of Regulated Entities

State Bank of Pakistan (SBP), under Section 4C(h) of the SBP Act, 1956, is empowered to license, regulate, and supervise scheduled banks and financial institutions that fall under its domain. In this respect, SBP has been issuing various instructions on licensing/authorization of regulated entities. The existing instructions on the subject have now been consolidated and updated into a single comprehensive document titled the Handbook for Licensing/Authorization of Regulated Entities, which has been placed on SBP’s website for information and compliance by all relevant stakeholders.

2. All new applications received for obtaining a license/authorization for setting up a Bank, Digital Bank, Microfinance Bank (MFB), Exchange Company, Electronic Money Institution (EMI), Payment System Operator/Payment Service Provider (PSO/ PSP), or Private Credit Bureau will henceforth be processed under the requirements set out in the enclosed Handbook.

3. Please acknowledge receipt.