All Banks/DFIs/NBFIs

Dear Sirs/Madams,

Transfer of Functions to Domestic Markets and Monetary Management Department (DMMD)

Pursuant to the realignment of functions/restructuring at State Bank of Pakistan, the following functions have been transferred to the Domestic Markets and Monetary Management Department (DMMD):

1. All policy related work pertaining to Cash Reserve Requirements (CRR) and Statutory Liquidity Requirements (SLR).
2. All functions pertaining to the Financial Derivatives Business Regulations (FDBR).
3. All Policy & Regulatory aspects of the Payment Systems will now be handled by DMMD. Operational Oversight, System Development and Business Support functions will continue to be handled by the Payment Systems Department.

It is therefore advised that all correspondence / queries pertaining to the aforesaid functions should be directed to DMMD.